Retail & Commercial

The plan underscores how Chief Executive David Solomon is seeking to reshape U.S. operations geographically as he looks to rein in expenses, placing thousands of jobs in cheaper locales.

Rohit Chopra, who was the Consumer Financial Protection Bureau's first student loan ombudsman, is expected to crack down on unfair debt collection and other practices once he is confirmed by the Senate to lead the bureau. Observers predict he'll work closely with former CFPB Director Richard Cordray, who now oversees the Education Department’s $1.7 trillion portfolio of federal student loans.

The Consumer Financial Protection Bureau issued a temporary final rule that allows mortgage servicers to initiate foreclosures on abandoned properties and certain delinquent borrowers, but it also outlined additional measures that shield distressed homeowners.

Amerant Bank has invested $2.5 million in Marstone to provide a digital alternative to personal wealth advisors for new and existing clients. The technology "gets planning capabilities into the hands of any customer that wants them," says Jerry Plush, the Florida bank's new CEO.

For years, women have gotten a foot in the door to the finance industry by becoming bank tellers. Now that path is disappearing.

Ginnie Mae is allowing lenders to securitize modified home loans with this extended term as the Biden administration works to make more housing options available for struggling borrowers.

Lorch, who has been with the company since the launch of the online-only First Internet Bank more than two decades ago, will inherit the job from David Becker, who remains chairman and CEO.

In a 5-4 ruling, the Supreme Court said that a majority of plaintiffs in a class action were not entitled to damages because the credit reporting company did not share faulty information with banks, landlords or other third parties.

As banks pull back from energy lending, some of the world’s biggest hedge funds are rushing in to fill the gap in oil country.

Deserve, a credit card technology startup, raised $50 million from backers including Mastercard and Ally Financial’s strategic investment arm, its chief executive said in an interview.