Consumer lending

Some deficit hawks worry such a move could worsen the inflation that is already weighing heavily on Democrats’ chances of maintaining control of the House and Senate. But that dollar amount may not go far enough to appease progressives.

Bankers object to the Consumer Financial Protection Bureau's request on “exploitative junk fees” that produce billions in income for financial institutions, arguing that banks are compliant with statutes that require fees be disclosed to customers.

The Cleveland bank, which currently charges around $33 when customers spend more than they have in their accounts, is planning a series of overdraft-related reforms. Key follows numerous other large and midsize banks that have taken similar steps.

President Biden said he’s considering a plan to relieve student debt in the coming weeks, but that it would fall short of the sweeping forgiveness sought by Senate Majority Leader Chuck Schumer and progressive Democrats.

The Consumer Financial Protection Bureau director told Congress he will revise some rules as the bureau looks to address late fees.

The Consumer Financial Protection Bureau will conduct supervisory exams of nonbank fintech companies that pose risks to consumers as Director Rohit Chopra seeks to level the regulatory playing field with supervised banks.

To appeal to a younger audience, credit unions are teaming up with third parties that can help them offer Bitcoin accounts, real-time payments and other cutting-edge services.

The U.S. moratorium on student-loan payments is slated to be lifted at the end of August, but more than half of borrowers said in a survey that they wouldn’t be able to make a single monthly payment today if they had to.

The Dallas bank reported an increase in energy loans for the first time in nearly three years, but executives don’t expect fossil-fuel lending to rebound to its previous highs.

Bank of America expects 3% GDP growth this year and a 2% improvement next year, even in the face of rising rates. Consumers’ continued willingness to spend and borrow, which was evident in the bank’s first-quarter results, is a key reason for that outlook.