Banking

Fair Isaac Co. revealed Thursday that its revamped credit score model will not weigh medical debt as heavily as previous versions, a key change given that medical debt accounts for nearly half of all unpaid collections on consumers' credit reports.

Santander Consumer received a civil subpoena from the Department of Justice about its subprime auto lending business, part of a probe into practices in the booming area of financing car purchases for people with spotty credit.

Northern Trust in Chicago has appointed Peter Jordan as head of global fund services for the bank's Asia-Pacific region.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Fair Isaac's new credit scoring model includes enhancements to evaluate borrowers with limited credit histories and quantify the risk associated with different types of debt.

Fair Isaac Co. revealed Thursday that its revamped credit score model will not weigh medical debt as heavily as previous versions, a key change given that medical debt accounts for nearly half of all unpaid collections on consumers' credit reports.

More than 1,300 consumers victimized by two related mortgage relief scams will be getting approximately $800,000 as a result of a settlement announced Friday by the federal government.

The deal is for approximately $70 million in cash with Encore Capital making additional payments totaling $126 million to retire some of Atlantic Credit & Finance's debts and obligations.

Gemalto NV, a developer of software and chips that make transactions more secure, agreed to buy data-protection company SafeNet Inc. for $890 million in cash to bolster its offerings against threats such as hacking.

Banner Corp. in Walla Walla, Wash., has agreed to buy Siuslaw Financial Group in Florence, Ore.

Peoples Bancorp in Marietta, Ohio, has raised $40 million through a private placement.

Peyton Patterson has resigned from Bankwell Financial in New Canaan, Conn., less than two months after she was ordered to pay $350,000 in Amex bills and had to resolve other personal financial matters. She had led the company since 2012.

Two separate cases involving collection agencies that allegedly violated federal debt collection laws were closed Thursday in settlements announced by the Federal Trade Commission.

Fifth Third Bancorp has agreed to pay about $1.5 million to settle allegations it discriminated against mortgage borrowers with physical disabilities.

A loyal patron of the Connecticut bank celebrated her upcoming 95th birthday with some flowers courtesy of the CEO and a chauffeured ride to the annual meeting.

Ocean Bank in Miami has signed a three-year agreement to put its name at the top of Florida International University's football stadium.

The Canadian bank's viral YouTube clip comes as the industry struggles to use social media effectively.

Heritage Bank in Jonesboro, Ga., became one of the first banks to retire trust-preferred securities held by the FDIC after a complex, year-long negotiation. The transaction could be a model for dozens of other lenders trying to avoid default and possible bankruptcy.

FICO has launched a credit risk prognosis tool financial institutions can use to stress-test their consumer loan portfolios.

A federal court has halted, pending litigation, an operation that allegedly stole hundreds of thousands of dollars from small businesses, doctors’ offices, retirement homes and religious schools by charging them for unwanted listings in an online directory.