Credit

If consumers suddenly change bill pay habits, many processing systems and third party collectors will be overtaxed, says Alorica's Jay King.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation has garnered no Republican support.

The largest bank in Puerto Rico said hundreds of millions of dollars of its mortgages and consumer loans are tied to the parts of the island hit by the recent quake or still recovering from two hurricanes.

Shares of Discover Financial Services slumped the most in more than a decade after credit card lender warned that it will spend more on marketing and technology, including to beef up collections on troubled debt.

The credit card lender has seen problem loans spike since it introduced a feature that lets at-risk customers restructure loans through its online and mobile channels.

Mastercard will financially back Indian merchant commerce platform Pine Labs' embrace of multi-channel installment financing as a payment option in addition to cards.

The changes will mean a bigger gap between the best and worst borrowers; the bank will require companies they take public to have a ‘diverse’ board member.

The promotion of Melinda Chausse was one of several leadership changes the Dallas company announced this month.

Franklin Financial agreed to be sold less than a year after issues surfaced in its portfolio of shared national credits.

The Dallas bank’s troubled energy loans reached a nearly two-year high as crude prices plummeted.

The Arkansas bank is bracing for a rough 2020 amid record prepayments and a big substandard loan in its commercial real estate book, but CEO George Gleason insists shareholders will see "a nice payoff" in the long run.

Under terms of the settlement approved by a Georgia court Monday, Equifax may also have to pay an additional $125 million if the initial amount doesn't cover all the claims.

Regulators are beginning to recognize the importance of using alternative data to provide credit for the underbanked. Now is the time to expand its use across the industry.

The FHFA’s attempt to move some of its balance sheet into the private sector could leave investors with greater liabilities than they were initially told.

Franklin Financial CEO J. Myers Jones is trying to reduce his company's exposure to shared national credits and health care loans, which have enjoyed solid yields but come with a downside.

Susan Riel succeeded Ronald Paul as CEO of the Maryland bank shortly before questions surfaced about credit quality and lending practices.

Paul Murphy took full responsibility for a recent spike in charge-offs at the Houston company. His challenge in 2020 is keeping credit issues in check.

One found a buyer, another announced plans to retire, and others took steps to reinvent their banks.

Financial regulators’ statement cautiously encouraging lenders to go beyond traditional underwriting in their lending decisions is a big step forward for the use of alternative data and artificial intelligence, bankers say.