Retail & Commercial

Faster payments would help the economy in general and individuals and small businesses in particular. It's time for banks to step up.

The consumer agency’s latest data analysis takes issue with how Equifax, Experian and TransUnion have dealt with a deluge of grievances. One analyst called it a “starting point” for stricter regulations and enforcement actions.

A new group within the Alabama company's equipment finance subsidiary will be led by Jay Cannon, who recently left U.S. Bancorp.

A gauge of U.S. firms extending credit climbed in December to the highest level in almost 18 years, signaling a strong bet on the economy’s prospects and heavy investment in automation.

The Los Angeles company, set Thursday to complete a merger with a special-purpose acquisition company and raise more than $3 billion in a stock offering, plans to develop new banking and cryptocurrency-related services this year, CEO Jason Wilk says.

While some in the industry support the change, mortgage broker trade group AIME called on the agency to reconsider it.

Banks and credit unions that cater to members of the armed forces are partnering with fintechs or patenting their own tools to help users convert currency, borrow money and handle financial matters in environments with unreliable internet service.

The credit bureaus plan to add repayment data for installment loans, a move that can inform credit decisions and help answer regulators' questions about how such borrowing affects consumers' financial health.

The last three months of 2021 were strong for most lenders, which will report results soon. But the outlook for the coming months has been clouded by the spread of the newest coronavirus variant, which has many banks grappling with staffing shortages and branch restrictions.

Bank of America hired Benjamin Saunders from JPMorgan Chase for its financial institutions investment banking business.