Banking

Trade groups are challenging a provision of the CFPB’s payday lending rule that limits lenders’ ability to withdraw funds from a consumer's bank account after two consecutive failed attempts.

New enlistees typically lack credit histories, so the $1.2 billion-asset lender is using other transaction data to underwrite loans. It's a common practice among large banks and fintechs but rare for a community bank.

Year to date through June 30, 2021. Dollars in thousands.

As the expiration of a national eviction moratorium puts economic pressure on low-income households, the Consumer Financial Protection Bureau is said to be considering investigating credit bureaus, debt collectors and large landlords accused of harming renters. But some argue the agency would be overreaching.

Consumers are saving more and borrowing less, making it harder for credit unions to meet a key ratio that the National Credit Union Administration uses to gauge their financial health.

The company created through the combination of BB&T and SunTrust Banks expects to hit two final milestones in the first quarter of 2022. The bank is now turning its focus to performance, CEO Bill Rogers said.

Shane Berger, who has been at the helm of Beehive for nearly 37 years, will hand over his responsibilities to Craig Gummow on Jan. 4.

The lender will take a $21.6 million charge related to damage a customer sustained from Hurricane Ida, leading analysts to predict a major drag on earnings. So far, there is little indication that other banks have been similarly affected.

Combined, the two would have over $11 billion of assets and nearly 80 branches serving members of the armed forces across five states and in Italy.

The bank, which acquired General Electric’s health care lending business in 2015, is looking to expand its presence amid a merger boom in the sector.

The new ATMs deter card-skimming fraud through encryption, individually paired card readers and a design that requires users to dip their cards at an angle.

Goldman Sachs Group posted a surprise jump in its trading business, rounding out a stellar quarter for Wall Street’s biggest banks.

The cryptocurrency exchange, which has been embroiled in a dispute with the Securities and Exchange Commission, says the federal government should create a stand-alone body to supervise the marketplace for digital assets.

In a bid to boost fee income, the Minneapolis company is upgrading its payments technology to allow businesses to manage inventory, payroll and other functions — as well as make payments — all in one place. The tech is modeled after an offering from Square.

The bank looks at every opportunity to expand in the U.S. through organic growth or acquisition and will consider them all as they become available, the head of Toronto-Dominion Bank’s U.S. operations says.

Jane Fraser told analysts the company will spend what’s necessary to satisfy regulators’ concerns about risk management and internal controls. That includes incentives to encourage senior executives to resolve the problems promptly.

U.S. consumers have been more punctual than ever before in paying back debts as the economy rebounds from the pandemic. 

Talwar, who is leaving his job as chairman of Goldman's consumer bank this month, explains his philosophy on innovating within a large organization, making a digital-only unit work within a 150-year-old institution, and how he deals with skeptics.

The company posted a 58% increase in net income, fueled by increased loan demand from both consumers and businesses, as pandemic fears ease. It expects strong GDP growth through next year.

After extending its deadline for request for comment on cryptocurrency by a month, the National Credit Union Administration heard from credit unions and other organizations that want clarity on the boundaries the agency plans to set.