Retail & Commercial

No Republicans voted for the package of bills intended to overhaul the credit reporting system, casting doubt on its chances in the GOP-controlled Senate.

The benefits include improved financial inclusion, the chairman of the NCUA argues.

The promise of post-closing payments encourages top executives to pursue deals that aren’t necessarily in their self-interest, but investors may eventually raise concerns that the packages are expensive and too focused on the short term.

The Los Angeles company set aside more money to cover a problem loan after an updated appraisal of the credit's collateral.

The Wall Street bank aims to double consumer deposits and triple outstanding consumer loans in five years. A checking account is slated for 2021, and more cobranded credit cards could be coming.

Loans made for Fiat Chrysler represented the largest chunk of Santander Consumer's lending in the fourth quarter, and Mahesh Aditya said their relationship is his top priority.

Cassandra McKinney's promotion to executive vice president of the retail bank is the latest executive move by Curt Farmer, who became the Dallas company's CEO in April.

The Financial Services Committee will also hold hearings next month on monetary policy, the CFPB and "astroturfing" worries, among other things.

If consumers suddenly change bill pay habits, many processing systems and third party collectors will be overtaxed, says Alorica's Jay King.

JPMorgan Chase plans to dismiss several hundred workers from its consumer unit as the lender seeks to rein in costs, according to people briefed on the matter.