Banking

The CEOs of both Upstart and Oportun said this week that while they will maintain their existing interest rate limits, some higher-risk customers will no longer qualify for their loans as borrowing costs rise.

The Minneapolis company believes a new partnership with LiquidX will grow its niche supply-chain financing business by 'multiples.' The goal is to help more suppliers get paid early in a system that's been pinched throughout the pandemic.

Roughly 24,000 people had new foreclosures listed on their credit reports in the first quarter, up from about 9,000 three months earlier, a Federal Reserve Bank of New York report says. States are trying to cushion the blow on homeowners now that many pandemic-related federal protections have ended.

Think Stack's purchase of Emergifi also brings it an equity stake in Corporate Central Credit Union, which founded the Milwaukee organization in 2017.

Rick Schmidt, who has been the credit union's chief executive since 2010, plans to step down in January.

Banks such as Capital One and Ally Financial are taking a page from fintechs and adopting early payday and eliminating overdraft fees.

Amid fresh competition from newcomers seeking to build brand recognition, banks that sponsor pro sports teams are leaning into content that tells a story about their connections to local communities.

Borrowers must be protected against discrimination at all steps of the credit process — including after they’ve already been granted credit, the regulator affirmed.

On Dec. 31, 2021. Dollars in thousands.

On Dec. 31, 2021. Dollars in thousands.

GradFin offers advisory services to Americans who want assistance with their student loans. The acquisition is part of the Cleveland bank’s strategy of adding niche digital businesses.

On Dec. 31, 2021. Dollars in thousands.

After combining with Brazosport Teachers Federal Credit Union in Clute, Texas, Space City will become a $160 million-asset institution.

The Minneapolis company announced $100 billion in investments, including substantial spending in California, over the next five years. The agreement with groups that previously withheld their support removes a major hurdle in winning regulatory approval for the $8 billion deal.

The founders of the Credit Union Women's Leadership Alliance are establishing workshops for networking and training with the hope of helping female leaders grow their organizations.

Nearly three in four banks said in a recent survey that finding people with the right skills is a hurdle as they try to comply with decade-old rules regarding their financial models.

The company is focusing on the future of online retail banking. Next on its agenda: real people in its wealth management division.