Banking

The Consumer Financial Protection Bureau said in an annual report to Congress that unpaid medical debt is plagued by inaccuracies, and that consumers are often faced with opaque pricing and uncertain insurance coverage.

Gov. Jim Justice alleges that Carter Bancorp engineered a technical default on a multi-million lending relationship and has blocked his company's efforts to refinance with other lenders. The lawsuit extends a dispute that started after the death of the bank's founder in 2017.

The neobank's original problem was that it grew too fast. Its latest is that it's grown too slow.

Whether it's bracing for a hurricane or helping members reduce their environmental impact, many credit unions are making the planet's health a focal point of community engagement.

Experts across the financial services space hold that the White House's new mandates won't bring wholly new rules to the industry, but will hopefully explain what the path forward for governing agencies will look like.

The agency's insistence on churning out new requirements — even as courts question its constitutionality — is harming the very consumers it purports to help.

Just a week after Brazil's Nu Holdings announced a yield of 15% on its high-yield savings accounts in Mexico, Argentina's Ualá is raising its own by three percentage points to 15%. The speed of the decision highlights the frantic battle for customer acquisition.

OFG Bancorp's CEO José Rafael Fernández has weathered tough times during Puerto Rico's economic downturn. Now he is hopeful that his bank can seize on the better times ahead.

The regional bank announced a near-doubling of the size of its most-senior leadership team, plus expanded roles for two former SunTrust executives and the hiring of a wholesale banking chief from Wells Fargo. Truist is under pressure to improve both its efficiency and its financial performance.

At the American Fintech Council's 2024 policy summit, banking-as-a-service was the talk of the town as experts shared how to avoid missteps in the business.

The $7.7 billion-asset federal credit union in East Lansing announced its third deal in as many months — the planned purchase of in-market peer Gabriels Community Credit Union. And it has two bank acquisitions pending.

Executives at Capital One, U.S. Bank, BMO and Atlantic Union Bank are striving for seamless onboarding and more efficient branch bankers, among other projects on their technology drawing boards.

As CEO, Gary Fukuroku has helped turn the Hawaiian-based institution into one of the largest in the state and has raised significant funds to help those affected by this year's wildfires.

There's a reason why successful bankers with long careers look back on their time spent as vice presidents as among the best of their working years.

A key gauge of activity that tracks startups most likely to create jobs declined in October, potentially signaling the start of a slowdown after the rapid increase in interest rates. It presents a red flag for community banks and credit unions that are major lenders to small businesses.

Bank failures last spring forced many startup businesses to shift where they store their cash. JPMorgan Chase appears to be the top beneficiary, but other banks say they are just as eager to reel in deposits and do more business with the innovation economy.

The agreement includes funds for small-business lending and mortgages for low- and moderate-income borrowers in California and Massachusetts. It puts an end to questions about the fate of an $11.2 billion plan that Silicon Valley Bank inked before it failed in March.

Don't underestimate how lonely and messy entrepreneurship is, Walter said at American Banker's Small Biz Banking conference.

The program helped more than 23,000 consumers establish credit scores in its first year through partnerships with three fintechs, all of which were chosen to renew their participation.

Amid a deal drought that has dragged on for more than a year, Wells Fargo is cutting 40 to 50 jobs in its corporate and investment bank division, say people with knowledge of the decision.