Credit

The nation's largest private student lender plans to curtail its use of forbearance, a move that could well save some borrowers money but could also result in more defaults.

Why the Toronto bank is focusing on digital features; complaints about credit monitoring plans flood CFPB; the strategies midsize banks are relying on to stimulate growth; and more from this week’s most-read stories.

Newcomers to the U.S. tend to have a hard time getting credit cards because they lack credit history here. Amex has deployed technology from a fintech, Nova Credit, that could change this.

The credit card issuer, which recorded an 11% decline in net income last quarter, took one-time charges in connection with a U.K. sales scandal, the start of a new partnership with Walmart and a recent data breach.

Readers react to Regions Financial's plan to replace its core deposit system, a House bill meant to curb jobs moved overseas, a resurgence of consumer complaints against the credit bureaus and more.

The online lender posted a profit for the sixth consecutive quarter, as higher margins helped offset a decline in loan originations.

Executives say they are passing on more loans as bank and nonbank competitors cut rates and forgo traditional safeguards.

It has already been modifying more problem loans and investing in efforts to recover charged-off loans, and now the credit card lender is ready to tighten underwriting in case the economy weakens.

The company says the upgrade will support future digital investments. It also said Tuesday that third-quarter profits climbed 8% but reported a sharp increase in criticized business loans.

Regulators have long warned the credit bureaus about deceptive marketing that causes consumers to sign up unwittingly for paid monitoring services. But the practice has persisted, according to complaint data.