Retail & Commercial

The measure, just the second of its kind the nation, mandates that fintechs, factoring firms and other nonbank small-business lenders clearly explain the terms and conditions to borrowers.

The legislation would let banks postpone the start date of the Current Expected Credit Losses accounting standard and delay categorizing pandemic-related loan modifications as troubled debt restructurings.

With one study showing consumers racking up additional credit card debt this season, some members may be eager to consolidate their balances in the year ahead.

One engineered a big M&A deal, another struggled with his bank's credit issues and another abruptly resigned. Here are their stories and more.

The bank has been streamlining common activities for commercial clients as part of a yearlong digital transformation.

Underpinning the technology with mathematically sound models can make a better case to consumers and regulators for why a loan applicant was denied.

The legislation allows the Small Business Administration to waive fees and raise the guarantee for 7(a) and 504 loans, which could encourage more small businesses to apply for loans as the economy recovers.

The Consumer Financial Protection Bureau said that the Dallas-based auto lender knowingly supplied inaccurate consumer data to the three major credit reporting agencies.

The consumer bureau said the bank’s migration to a new servicing platform led to unauthorized payment withdrawals, misrepresentations about what borrowers owed and violations of a prior 2015 enforcement action.

Bank of America’s chairman of global corporate and investment banking, Anne Clarke Wolff, is leaving the firm.