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Many leading bank trade associations have called industrial loan companies a regulatory "loophole" that must be closed, but a bipartisan group of senators has their back.

Bank of America is starting a paid sabbatical program to reward its long-term employees, starting with four weeks off for those who have spent 15 years with the company.

The neobank combines digital banking with community-based assistance.

The Consumer Financial Protection Bureau will bring BNPL fintechs under its supervision following a monthslong inquiry into consumer credit risk and data exploitation. "It's critical that this category does not hide in the shadows," says CFPB Director Rohit Chopra.

Consumer spending continues to rise, but last quarter's acceleration in loan growth is starting to lose momentum, and bankers are tempering expectations about fee income. Meanwhile, deposit outflows have yet to result in strong competition for customers' money.

Allegiance Bancshares and CBTX received the final blessing they needed from the Fed to complete their proposed deal 10 months after it was announced. But regulators say the new company must take steps to attract more African American mortgage borrowers.

The National Credit Union Administration rolled out the Simplified CECL tool on Wednesday as accounting standards are set to take effect in early 2023.

SWIFT, the messaging system used by financial institutions globally to convey instructions on tens of millions of transactions each day, is testing out blockchain.

The Consumer Financial Protection Bureau director is looking at "small ways" to hold peer-to-peer payment providers responsible for investigating allegations of fraud under the Electronic Fund Transfer Act.

The document automation company Ocrolus recently launched a new version of its fraud detection platform. Here's how it works and what other services lenders should consider.

U.S. credit unions gained their largest total chunk of the vehicle lending market in the past five years, at more than 25% in the second quarter, by underpricing their rivals. Banks are still ahead, but just barely.

The Pennsylvania banking company could use the proceeds from its initial public offering to pursue acquisitions.

The fourth-largest U.S. bank by assets has commissioned an outside law firm to assess its diversity practices. Wells had previously resisted a shareholder proposal that would have authorized a similar review.

A venture that's majority-backed by Walmart is poised to emerge from the shadows this month with digital bank accounts meant for the retail giant's 1.6 million U.S. employees and legions of weekly shoppers.

Richard Green is the third member of his family to run Firstrust Bank in Pennsylvania, but at 70, he is ready to step aside. His son Jeff is 27 and is — ironically — still too green for the role.

In global news this week, Western Union buys a digital wallet maker in Brazil, DBS in Singapore embarks on a green metaverse project, the U.K.'s Wise launches a digital cross-border payments service, and more.

The agency's invitations to "Come in and talk" often precede investigations and subpoenas.

The U.K. fintech has added support for online and in-person transactions, potentially fueling its international growth even though it reportedly faces scrutiny over its accounting practices.

A couple squatted in their foreclosed home since 2009 and are only now being evicted, highlighting stubborn problems in the foreclosure process.