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"In many cases, these are fees where there's not even a service provided or where the bank or financial institution doesn't even do any work,” Rohit Chopra of the Consumer Financial Protection Bureau said Thursday in public remarks.
February 10
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The Pennsylvania bank expects to generate $1 billion in loans this year from new lines of business focused on broker-dealers, insurance companies and more.
February 10
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The Federal Trade Commission recently issued an advisory opinion that could make it easier for consumers to recover their legal costs from banks in situations where they were defrauded by a car dealer.
February 9
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With their costs soaring, farmers may need credit to make ends meet. Bankers see this as a chance to offer more loans, but worry that some borrowers may not be able to make their payments.
February 9
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The company has agreed to pay at least $3.75 million to resolve allegations that it violated the District of Columbia’s 24% interest rate cap.
February 8
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One group seeks a change in leadership, the other a sale of the Philadelphia community bank, which is led by Vernon Hill. Both are ratcheting up their campaigns against the board.
February 8 -
Banks that rank high on a Fintech Similarity Score made the most government-backed small-business loans outside their local area, a study found.
February 8
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Borrowing on plastic climbed by $52 billion in the fourth quarter, the New York Fed found, as consumers splurged on holiday shopping and inflation drove up the cost of goods and services. It's the biggest jump in the 22 years the data has been tracked.
February 8
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Buffalo, New York-based M&T is the latest bank to announce changes that will save customers money but also reduce service-fee revenue.
February 8
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The March hearing, to be hosted jointly by the Federal Reserve and the Office of the Comptroller of the Currency, is coming at a time when lawmakers and community groups are pressing federal agencies to apply more scrutiny to bank mergers.
February 7
