Banking

The findings from the California Department of Business Oversight, which also included data on interest rates and delinquencies, could be a precursor to new state regulations.

CFPB Director Richard Cordray testified before a U.S. Senate committee Thursday and was questioned about the bureau’s recent report stating service members complaints are nearly twice as likely to be about debt collection compared with the general population.

A New York man who claimed a collection agency and law firm illegally garnished his wages under a state court default judgment cannot pursue federal claims against the firms, according to a ruling Thursday.

Hampton Roads Bankshares in Virginia Beach juggled a search for a new chief executive while also arranging for its eventual merger with Xenith Bankshares in Richmond, Va.

U.S. household borrowing climbed in February compared with January, supported by financing for automobiles and college education.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

The bank says the partnership will improve the online experience for borrowers. It is just the latest example of banks and online lenders teaming up to speed up decision-making and win over new customers.

Sen. Jeff Merkley, D-Ore., and nine other Democrats are attempting to block a go-around they say payday lenders use to avoid complying with state laws.

Edward Duffy, who was chairman of the holding company for the former Marine Midland Bank in Buffalo, N.Y., has died. He was 89.

Speaking before the Senate Banking Committee, CFPB Director Richard Cordray said fintech companies should be held to the same standards as depository institutions. At the hearing, Cordray fielded questions on payday loans, indirect auto lending and regulation by enforcement rather than rulemaking.

Even as JPMorgan Chase tries to beat fintech firms at their own game it's still looking to these upstarts for inspiration, its CEO says.

LAS VEGAS – Office of the Comptroller of the Currency chief Thomas Curry said Thursday that banks have reached a do-or-die moment and it is up to them to keep up and outinnovate nonbank rivals.

The housing market has been improving but mortgage credit remains "stubbornly" tight on loans bought by the government-sponsored enterprises, according to a chief housing adviser at the White House.

Richard Hunt, the president and CEO of the Consumer Bankers Association, weighs in on recent moves by regulators to scrutinize fintech firms and whether the agencies are going far enough.

BofI Holding is looking to make more acquisitions and its leader says he doesn’t think accusations from a former employee are unlikely to hold up a deal, even though they’ve dragged down the stock price.

Banc of California in Irvine has agreed to sell its wholly owned investment adviser subsidiary, The Palisades Group.

A proposed class-action lawsuit accusing collection agency LVNV Funding and law firm Eltman Eltman & Cooper of abusive collection practices can proceed, a federal judge has ruled.

Rising home values continue to provide consumers with a strong incentive to keep up with their home-equity loan payments.

Charlie Hallinan, who pioneered the tactics payday lenders have used for years to stymie state regulators, was indicted on federal conspiracy and fraud charges.

The Alabama Senate has voted in favor of legislation that would extend payday loan repayment periods to six months.