Consumer lending

The $22 billion-dollar earned wage access industry is vigorously opposing the Consumer Financial Protection Bureau's plan to classify paycheck advances as consumer loans requiring disclosures of fees and costs, and says it will fight the rule in court.

The credit card company sold its student loan business, which long drew the ire of regulators. It also set aside substantial funds to cover looming regulatory penalties.

Payroll advances would be considered consumer loans under an interpretive rule by the Consumer Financial Protection Bureau that would require disclosures of annual percentage rates and fees under the Truth in Lending Act.

The Detroit-based auto lender has been dealing with an imbalance in deposit costs and loan yield since rates rapidly rose. Now, the bank's fixed-rate loans from before are maturing.

The credit card company is seeing fewer customers fall behind on their payments. But with lower-income consumers still being pinched by inflation, Synchrony isn't loosening its lending standards.

A federal appeals court ruled that the Equal Credit Opportunity Act prohibits not just outright discrimination but also the discouragement of prospective applicants for credit.

The Cincinnati bank has agreed to pay a total of $20 million to settle a lawsuit by the Consumer Financial Protection Bureau over fake bank accounts and to resolve separate violations involving force-placed auto insurance.

A law that took effect this week allows Florida consumers to ask state regulators to investigate why a financial institution canceled an account or rejected a loan application. The law, which applies to federally chartered banks, could lead to a legal battle over the limits of state powers.

This year Texas banks dominated American Banker's annual list of the top-performing larger community banks. See which institution came in at No. 1 for this asset class.

A federal judge granted a preliminary injunction sought by industry groups that sued to block a Colorado law. The law, which would cap interest rates on consumer loans, targets partnerships between fintechs and out-of-state banks.