Credit

Many institutions have delayed planning for a big change to reserve accounting despite a belief that they should start testing systems and methodologies next year.

Huntington executives are surprised that chargeoffs are still so low and say they're prepared for things to get worse, yet they remain aggressive in auto and other categories. The juxtaposition is a sign of the times for lenders.

As more loans go bad across the credit card industry, the Riverwoods, Ill.-based company boosted its provision for loan losses by 51%.

The U.K. Financial Conduct Authority opened an investigation into the hack of credit reporting company Equifax Ltd. that saw personal data stolen from at least 143 million people.

The store-branded credit card issuer reported that more borrowers fell behind on their payments in the third quarter. Still, net earnings were stronger than expected.

Readers weigh in on online lending growth, how President Trump’s healthcare policies affect lenders, regulation’s effects on community banks and more.

Cybersecurity and breach notification procedures have caught the most public attention following the massive hack at Equifax, but lawmakers are also interested in the accuracy of credit reports.

Martin Chavez reminded analysts Tuesday that while the Wall Street firm may be new consumer lending, the executives leading the unit are all veterans of the sector.

Equifax Inc.’s political troubles expanded, as a top U.K. Parliament lawmaker demanded information from the company and its British regulator about the hack that exposed sensitive data for nearly 700,000 U.K. consumers.

CFPB Director Richard Cordray is using the Equifax breach to suggest the CFPB be given power to examine credit reporting agencies for potential cybersecurity lapses.

Equifax Inc. has seen no evidence that the cyberattackers who got access to sensitive information on 145 million U.S. consumers worked for the company, former Chief Executive Officer Richard Smith said.

Congress may soon try to limit the personal identifiable information that companies and the government can collect on consumers based on their reaction to the massive data breach at Equifax.

Richard Smith came to Capitol Hill this week to speak about the massive breach at Equifax, but it was clear Tuesday that he will be defending the entire credit reporting industry.

Richard Smith came to Capitol Hill this week to speak about the massive breach at Equifax, but it was clear Tuesday that he will be defending the entire credit reporting industry.

The recent Equifax breach wasn't just a failing of one company's digital defenses — it exposed a fundamental weakness of how the entire financial services industry handles consumer identity. What's surprising is how deep the problem goes.

Equifax Inc.’s former chief executive officer said the credit-reporting company didn’t meet its responsibility to protect sensitive consumer information, confirming that the failure to fix a software vulnerability months ago led to the theft of more than 140 million Americans’ personal data.

Tim Welsh has spent his first two months on the job thinking about how to make U.S. Bank as central to consumers’ lives as Amazon, develop new personal financial management services, and expand into new cities.

Equifax Inc.’s board of directors has formed a special committee to review the sales of stock that executives made days after the company found out it was hacked.

Not only will banks be on the hook for counterfeit loans to identity thieves, but they will likely lose loan volume, and ultimately revenue, from changes in consumer behavior.

Yes, the credit bureau goofed badly on data security, and it proved to be worse at crisis management. But other companies have been just as sloppy with cyber defenses, and business and government leaders should have tackled these problems long before now.