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VersaBank plans to use the one-branch Stearns Bank Holdingford in Minnesota as a platform to expand a lucrative niche business acquiring loan and lease receivables from point-of-sale lenders.

The Consumer Federation of America and Consumer Reports sent a letter to the Consumer Financial Protection Bureau urging it to require banks to search for less discriminatory models. Later the same day, the CFPB issued a report saying it's doing just that.

The plan from the Heritage Foundation, a group the first Trump administration was largely in line with, would shutter CFPB, break up HUD and raise FHA premiums.

Leaders that have created virtual "branches" weighed in at American Banker's Digital Banking conference on how to approach implementation and what results have been like.

But economists seem to differ on what the latest movement in mortgage rates means for the summer home sales business.

The cryptocurrency sector is only the latest in a long line of corporate interests seeking to distort our democracy by converting their financial power into political power.

When TD Bank launched an audio brand identity across its communication channels early this year, the new jingle triggered a surprising reaction from consumers using the firm's ATMs.

Banks and financial institutions face a barrage of lawsuits from consumers alleging they failed to investigate inaccurate information on a credit report. Industry blames the uptick in litigation on social media sites and the proliferation of credit repair companies.

Evolve Bank & Trust acknowledged the ransomware group published customer data from the bank, but the number of affected people remains unclear.

The Federal Reserve attributes the uptick in simulated losses in this year's stress test examination to heightened risks on bank balance sheets and higher expense levels. Credit cards and corporate lending were top areas of concern for the central bank.

Last year, the CFPB referred 18 matters to the Department of Justice and initiated 28 fair lending examinations or targeted reviews, the highest number of such actions by the agency ever.

Darren King, who has been overseeing retail and business banking, will depart from the bank in August, M&T said Wednesday. A company spokesperson cited personal reasons.

The technology company faces fines over potential anti-competition practices; Takis Georgakopoulos is on his way to Fiserv.

Eras come and go, but the ongoing investments in developing, empowering, leading and retaining superior personnel will remain the highest priority of top-performing financial institutions.

Four large banks were dinged in their resolution plan reviews for shortcomings in their plans to unwind their derivatives positions in times of stress. But whether the problem is with the banks' plans or the regulators' expectations for a legally ambiguous product is a matter of debate.

General Motors' financial arm has halted its quest for an industrial loan company charter from the FDIC, but is signaling that it will try again. Observers said the automaker may wait until after the presidential election to decide how to move forward.

Funding Circle US fought to win a coveted license to make SBA 7(a) loans only to see its London-based parent company agree to a sale before it could make its first government-guaranteed loan

The Consumer Financial Protection Bureau extended the deadline for lenders with the highest volume of small-business loans to July 18, 2025, and will not assess penalties for reporting errors for a year.

Ransomware group LockBit threatened on Sunday to publish the stolen data Tuesday evening. Ransomware experts said it was likely that the group was bluffing.