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The Ohio-based bank concentrated most of its lending branches in majority-white neighborhoods and did nothing to compensate for its lack of physical presence, the DOJ claims.

The small businesses said in a lawsuit that the bank used "misleading marketing and business practices" to rake in processing fees from oversized Paycheck Protection Program loans. A bank spokesperson placed responsibility on PPP borrowers for the representations they made in loan applications.

The Treasury will join with a group of Federal Reserve and other agencies to develop standards that they hope will shape both foreign CBDCs and a U.S. government digital dollar, should Congress authorize one.

Citizens Financial Group, which has offered point-of-sale financing for iPhones sold through Apple since 2015, is finding that as objects such as refrigerators become more complex and internet-connected, they are also more frequently replaced — creating new categories for installment lending.

Credit card issuers say they need more time to respond to the substantial data request made by the Consumer Financial Protection Bureau in its proposal to slash late fees.

The merger of Columbia and Umpqua has created a $52 billion-asset bank rooted in the Pacific Northwest. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah.

With Dan Schulman leaving, a replacement would have to take on Apple, Google, and a host of fintechs.

The legislation cleared the panel Tuesday night, but Democratic misgivings mean it faces an uphill climb in the Senate.

Archway, which will help community and regional banks integrate third-party providers with their existing systems, has raised $15 million of venture funding in connection with the spinoff.

The Consumer Financial Protection Bureau is warning that excessive fees can chip away at the cash sent to the most vulnerable consumers who opt to receive Social Security and other public benefits via prepaid cards.

The only way for Fincen to assure that banks have the tools to identify illicit shell companies is for the agency to verify the information in its new beneficial ownership database.

Uncertainty over a proposed merger between TD Bank and First Horizon causes shares to drop 14 percent.

This week's global news roundup include Canada's crackdown on crypto operators, Westpac's cloud project and more. 

Consumer Financial Protection Bureau Director Rohit Chopra says the bureau is continuing with its enforcement agenda and that financial firms face risks from the Supreme Court case.

The London fintech now allows users to send funds across borders to new payees without sharing sensitive bank account details.

Banks reported record growth in net interest margins in 2022, but net income still fell, and the industry "continues to face significant downside risks" from inflation and other factors, Martin Gruenberg says.

The Canadian bank now expects loan growth in the mid-single-digit range this year, down from a high-single-digit forecast three months ago. "We're not slowing, but the economy is," one executive said.

The collapse of the Sam Bankman-Fried's controversial crypto exchange changed consumers' view of digital assets. Credit unions, in turn, pivoted to focus on lower-risk services.

A group including Dr. Bernice King, Martin Luther King Jr.'s daughter, and former SBA Regional Administrator Ashley Bell says the deal struck Tuesday to acquire Holladay Bank & Trust in Utah marks the first time Black investors have acquired a non-Black bank.

Americans for Financial Reform say in an amicus brief that the Second Circuit should revisit a 30-year old decision ruling that loan participations were not securities.