Banking

Leigh Brady recently took over as chief executive of SECU, the second-largest credit union in the U.S. Don't look for any mergers under her leadership, Brady said, but she will focus on branch expansion and improving SECU's use of technology.

Mass arbitration is a fact of life in modern consumer finance litigation. Those hoping it will go away through court decisions or legislative change are primed to be sorely disappointed.

High interest rates could dampen demand for refinancing, which took a hit during the pandemic-era pause in federal student loan payments. "Curb your enthusiasm," one analyst said.

Adjusted for inflation, consumer spending has largely stalled after surging at the start of the year. Delinquency rates, meanwhile, are ticking up. 

Some of the biggest banks on Wall Street are expected to go to trial in Illinois next month to face allegations they inflated interest rates on bonds to finance public works.

The $4 billion-asset United Federal Credit Union partnered with the Nevada Housing Division to offer first-time homebuyers access to down-payment assistance.

New regulations on small-dollar lending are leaving consumers with few viable options when they need emergency access to cash.

The Cleveland-based regional bank recently announced a $20 million line of credit for Lendistry, a Los Angeles-based, minority-led community development financial institution.

Citigroup executive Jay Collins says the company is "absolutely interested" in arranging new deals in the market for debt-for-nature swaps, which allow countries to restructure their debt in exchange for promises to protect the environment.

We surveyed 164 professionals at banks and credit unions to find out their tech agenda for this year, including investment plans, tech priorities and thoughts on transformational tools. Here's what we found out.

Twenty lenders from across the country are participating in Underwriting for Racial Justice, a collaborative effort to develop new criteria that will enable marginalized borrowers to gain access to credit.

California Bankers Association taps insider as next CEO, Spotify cuts off subscribers who use Apple's high-cost payments, Relay Payments backs auto-racing team and more in this week's banking news roundup.

The Consumer Financial Protection Bureau, the Treasury Department and the Department of Health and Human Services released a request for comment on medical debt financing products. At the same time, the White House said that the agencies will explore whether efforts to sign up customers are breaking the law.

Deposits of Listerhill and Avadian credit union customers were compromised by fraud conspirators, one instance in a rise of card skimming cases across the country.

The acquisition of Malvern Bancorp, expected to close this month, would hasten First Bank's efforts to further fortify its footprint stretching from Philadelphia to New York City.

A recent breakthrough transaction demonstrates the promise of credit union sub-debt offerings for investors looking to enter the ESG space.

Under a written agreement, Quontic pledged not to distribute capital without the permission of its regulators. It's the third enforcement action in five years against the small New York-based bank.