Banking

The root of the credit reporting sector’s problems may be its dominance by a handful of big firms, lawmakers from both parties said at a hearing.

The foray into digital consumer lending follows a similar move by rival Citigroup.

The Small Business Administration should consider partnering with fintechs, which have the capacity to approve loans quickly, to help avoid the kind of application backlog the agency faced after the last government shutdown.

Credit Union Student Choice's decision to open a management center in Texas follows a similar move by Pentagon Federal Credit Union earlier this year.

The company also said at its investor day that the fourth-quarter slowdown in trading activity has continued into the new year.

Neptune Financial, an online business lender, will help the global bank reach commercial customers it was missing before and could ultimately be a $1.5 trillion opportunity, an HSBC executive says.

Consumer lending margins in the United States strengthened at the Canadian bank, which overall saw more growth in business lending than consumer lines in its fiscal first quarter.

Bank makes first hires for its corporate cash management business; the former Fed chair says the industry is too focused on profits.

The information you need to start your day, from PaymentsSource and around the Web. Today: Target's using incentives to push third party sales; Android gets FIDO certification; Timex adds wearable pay technology; Merchant lending draws investment in South Africa.

The bank said in its annual report that anticipated store closings could reduce both new account acquisitions and purchase volume.

Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.

The Badger State's institutions also saw earnings and allowance for loan losses increase.

Alan White, who will step down in April, and Jeremy Ford have served as the company's co-CEOs since September 2016.

The Senate Banking Committee will likely vote on Todd Harper and Rodney Hood's nominations to the federal regulator, while lawmakers hold hearings on a host of credit union priorities.

Tiny banks are recording healthy returns by carefully managing expenses and credit quality.

Midwest BankCentre in St. Louis, with the help of a stable of fintechs, started Rising Bank to keep up with big banks in the hunt for deposits and millennial customers.

The House Financial Services Committee chair said in an open letter that she wants to empower bureau staff amid reports of low morale.

Year to date through Sep. 30, 2018. Dollars in thousands.

The agency recently proposed gutting the ability-to-pay standard in its small-dollar loan rule, a move that would benefit the payday loan industry and harm consumers.

E-commerce merchants with just a few employees that sell through Amazon or Walmart often fall through the cracks for traditional bank loans, but for Payoneer they're the sweet spot.