Banking

A growing number of marketplace lenders and other fintech companies say they no longer use FICO scores or are using them in a limited way. The open question is whether their alternative methods will be more effective.

Mortgage lenders, debt collectors and credit card companies have borne the brunt of the Consumer Financial Protection Bureau's public enforcement actions over the past four years, yet banks have paid the most in penalties and restitution, according to a new study released by an agency insider.

Consumer advocates are urging the Consumer Financial Protection Bureau to strengthen its proposal to rein in payday lending, arguing it would still allow borrowers to be abused.

Synchrony Financial said Tuesday that it is expecting loan losses to rise over the next year as more consumers struggle to pay off their credit card balances.

The FCC's Consumer Advisory Committee recently reviewed its proposed rule on government debt collection calls and offered ideas about how to inform current rulemaking to implement TCPA amendments.

A megabank on the surface might not seem like the right fit for the financing needs of upstart craft breweries, but Bank of America's Brian Mulvaney has cooked up quite a niche business.

Fears about repurchase requests made by Fannie Mae and Freddie Mac persisted beyond the crisis, but those fears don't match actual repurchase numbers.

JPMorgan Chase announced it is closing its Houston auto loan collections unit and laying off 90 workers.

Cybercriminals understand psychology just as much as they do technology. Here are steps your bank employees must take to mitigate the risk of phishing and other attacks.

Never mind gender parity – just having executive committees consisting 30% of women is still a long way off for the financial services industry, according to a new study.

Ontario Systems announced Monday it has acquired Columbia Ultimate Business Systems in a deal joining two of the largest ARM industry vendors, with each holding distinct market-leading positions in adjacent verticals.

Byline Bancorp in Chicago is expanding into Wisconsin with a deal to buy Ridgestone Financial Services in Brookfield, Wis., for $105 million in cash and stock.

Consumer advocates are urging the Consumer Financial Protection Bureau to strengthen its proposal to rein in payday lending, arguing it would still allow borrowers to be abused.

Small-business lenders are scrambling for financing to accommodate a possible real-estate-related borrowing surge once a key federal rule change takes effect next week.

First NBC Bank Holding in New Orleans, which delayed the release of its 2015 annual report earlier this year, said it has submitted a plan to Nasdaq to get back on schedule with its filing of financial statements.

WASHINGTON — Ripple Labs obtained a virtual currency license from the New York State Department of Financial Services on Monday, making it the fourth company with a BitLicense.

Visa's Digital Commerce App is allowing banks to develop their own mobile wallets. Many of its clients are larger community banks that may not otherwise have the resources to develop such a product internally.

Nonbanks now set the digital banking experience bar, but in less than a decade large banks will have swallowed them up and will have become digital financial superstores.

The Federal Trade Commission claims two Southern California law firms bilked people for $15 million in a single year in a mortgage scam.

State student loan authorities sense a business opportunity helping graduates who are gainfully employed lower their payments. Their low-cost funding could put them in competition with banks and marketplace lenders.