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The Chicago subprime lender had previously warned that regulators were investigating its military lending practices. Its stock price rose by about 9% after the disclosure that the probe has wrapped up.

There's still a month left in the federal government's fiscal year, and the Small Business Administration's 504 program is perilously close to hitting its congressionally mandated funding limit for new loans.

The Houston company has agreed to pay a $3 million penalty, provide $4 million in loan subsidies to new borrowers and make other investments aimed at improving home buying opportunities for Black and Hispanic households.

It’s been going on in Europe for some time, but more U.S. banks are working with retailers, health care providers and other companies behind the scenes to offer loans, cards and other financial services.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.

LOC Federal Credit Union and MemberFocus Community Credit Union aim to utilize the flexibility of the latter’s state charter to enlarge membership.

Compensation needs to be competitive, of course, but employees also need to feel appreciated. In a challenging labor market, here’s how banks can retain their best workers and keep them motivated.

As more banks and fintechs offer installment loans at the point of sale, CO-OP Financial Services and PSCU are designing products to allow credit unions to compete in this market as well.

Dave banking app originally created to do away with overdraft charges has taken the industry by storm. It's on a mission to advance financial opportunities for all Americans. Join Penny Crosman, Executive Editor of American Banker and Jason Wilk, CEO and Co-Founder of Dave as they talk about how this app is changing the way people manage their money and what’s in store for the future of one-stop-shops for finances.

Many insiders are wondering about a contingent of senior executives who oversee some of the pillars of the Wall Street powerhouse that Tom Montag helped build: dealmaking, trading and commercial banking.

PNC Financial Services Group said it will raise its hourly minimum wage to $18 an hour from $15, joining the ranks of firms increasing pay amid labor shortages.

Daily edition for August 30, 2021

The e-commerce giant will partner with Affirm to offer installment payments as point-of-sale credit becomes increasingly popular as a finance option.

Federal Reserve Gov. Lael Brainard spoke with the Biden-Harris Federal Reserve transition team in January and with the president’s Council of Economic Advisers in May, her calendar shows.

The Fed, FDIC and OCC have issued guidance that says community banks should consider risk factors such as financial strength and business experience when evaluating potential fintech partners.

Some credit unions are leaning heavily on tech partners to speed payments and loan decisions, offer online financial planning sessions and deploy virtual assistant technology developed at MIT.

Regulators are calling for creative alternatives to the arduous de novo process. Pairing groups that want to open credit unions with lagging institutions would be quicker and could help preserve the sector, one credit union service organization says.

Shareholders in the troubled Mexican nonbank lender Credito Real will vote on proposals to sell the company’s U.S. operations at a meeting on Sept. 10.

The move is part of CEO Jes Staley’s broader strategy to beef up the British bank’s U.S. consumer business and strengthen relationships with retailers who may eventually need investment banking services.