Banking

Senate Democrats want acting CFPB Director Mick Mulvaney to explain why the agency is no longer policing student loan lenders and servicers, but any impact on credit unions remains to be seen.

U.S. credit card issuers are already caught in the middle of intense debates over guns, marijuana and cryptocurrencies. Gambling on sports is next.

Banks were helped by better loan spreads thanks to higher net interest margins, but the recently enacted tax cut helped boost profits by 27% from a year earlier.

The company will snag its first branches in three towns in Connecticut and Rhode Island after buying locations from Webster Financial.

A British court throws out Serious Fraud Office charges that the bank conspired with Qatari investors to prop it up; investigators open 70 cases against potentially fraudulent cyber deals.

James Ayers' stake in the Tennessee company will drop below 50% after a planned stock offering.

The Asian-American bank agreed to buy SWNB Bancorp for $77 million.

The information you need to start your day, from PaymentsSource and around the Web. Today: A big IoT project takes shape in Japan; A crypto ATM opens in Liverpool; Transactive Systems gains faster pay ground; Walmart tries to gain visibility into its resale market.

Most of Generation Z desires more robust and holistic payments management experience, making it a requirement that the financial services industry create new solutions with these preferences in mind. Technology partners and open development can help meet these needs, writes Zavida Mangaru, executive vice president of product strategy and innovation at North American Bancard.

CEO Tim Sloan said that the bank has "pulled back enough" on auto lending and is poised to grow the business again.

The Chicago company will close 19 branches and eliminate 150 jobs, partially reflecting changing customer preferences.

A number of credit unions and banks have been accused of operating websites that violate the Americans with Disabilities Act. Here’s why trial lawyers are targeting them and are expected to sue more.

An effort to oust two directors at the Seattle company was nullified after the investor failed to seek the required approval from the bank's state regulator.

The high multiple Fifth Third is paying for MB Financial raises questions about whether it can cut enough costs, realize enough growth and win over skeptical investors.

The CFPB policy was aimed at preventing discriminatory markups on indirect loans made by car dealers, but current acting CFPB Director Mick Mulvaney said the guidance "seemed like a solution in search of a problem."

Traditional credit scoring is under siege from alternative underwriting, and TransUnion is joining the future by investing in other emerging trends such as mobile device security and health care payments.

Sageworks, a financial services software firm that provides institutions with lending and risk solutions, was sold to Silicon Valley-based Accel-KKR.

Fintech challenger banks like Simple, Moven, Varo and Chime have faced separate headwinds in recent years. Here's how they’re taking up the charge again.

The Nashville company significantly reduced the 2018 earnings projection for its mortgage business.

Several dozen banks have been accused of operating websites that violate the Americans with Disabilities Act. Here’s why trial lawyers are targeting them and are expected to sue more.