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The proposal comes after years of criticism that the current policy stifles innovation and hamstrings banks' ability to raise funds.

Casting aside recession fears, the credit bureau predicts credit cards, mortgages, auto loans and unsecured personal loans should all perform well — including those extended by online lenders.

PayPal — which is rarely thought of as a prepaid card company — has filed a lawsuit against the CFPB over its rules on prepaid accounts, underscoring the rapid changes in digital financial services and PayPal’s own expanding financial services ambitions in recent years.

Testing shows an overreliance on machine learning data can unfairly harm credit scores.

The long-awaited proposal by the OCC and FDIC to modernize the Community Reinvestment Act would seek to make grading simpler and more transparent while allowing banks to spread loans and investments across a broader geographic area.

From appointments to prestigious committees to new members of the executive team, local honors and more, here are some of the latest personnel moves from across the industry.

Casting aside recession fears, the credit bureau predicts credit cards, mortgages, auto loans and unsecured personal loans should all perform well — including those extended by online lenders.

France’s Orange Bank, the online bank launched in 2017 by telco Orange, is expanding its mobile payment app’s reach by adding Google Pay through an integration via Wirecard.

In updating its point-to-point encryption standard, the PCI Security Standards Council says the resulting simplified validation process for component and software providers will result in more products available for cardholder data protection.

In a rare move, the House Financial Services Committee chairwoman will lead a congressional delegation to a public FDIC board meeting as it considers releasing a proposal to rework the Community Reinvestment Act.

TD Bank claimed the top spot in J.D. Power’s national bank satisfaction survey, but Wells Fargo showed the greatest year-over-year improvement.

Apple Inc.’s digital wallet is expanding in Europe just as regulators crack down on the tech giant’s move into financial services.

The rapid pace of technological change will force financial services companies to invest in more efficient digital offerings for clients, eliminate jobs and retrain staff to focus on higher-value work, according to an Accenture report.

As bank locations close, credit unions are filling the gap in many major cities, but the study also showed CU facilities closing up shop in high numbers.

In order to overcome this digital payment inertia we need to design solutions that allow buyers and suppliers to focus on a more critical aspect of the transaction experience—the sale itself, says Billtrust's Nick Babinsky.

March 2-4, 2020 | New Orleans, LA
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The average price of a previously owned car has fallen in two consecutive months, and if the trend continues, lenders could see losses mount, Richard Fairbank said this week.

The company will significantly boost its origination volume after buying 51% of BrandMortgage.

The bank joins rivals in predicting a better than expected Q4; JPM exec says AI could help create products for savings.

The National Credit Union Administration is widely expected to approve another budget increase during its December board meeting, but that doesn’t mean the industry is happy about it.