Credit

The bill, similar to legislation that passed the chamber last year, would permit the inclusion of items such as rent and telecom payments to help consumers build their credit profiles.

A study by FinRegLab of six nonbank lenders' use of cash-flow data in underwriting decisions finds this type of "alternative data" helps predict loan performance.

Lawmakers who called for sweeping reforms after the massive breach are likely to scrutinize the settlement with regulators and continue to push for changes.

The timing of the settlement serves as a warning to other companies of the risks they face in an increasingly data-focused economy.

After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers.

A bill by Rep. Patrick McHenry, R-N.C., would give the CFPB authority to oversee cybersecurity efforts at the credit bureaus.

The South Dakota company warned that it will charge off millions of dollars in loans to dairy and cattle farmers.

The decision gives the vast majority of banks and credit unions another year to implement the controversial accounting method for loan losses.

The San Francisco company said its loan pipeline would be strong the rest of this year.

Installment payments are catching on quickly with merchants and their customers, creating a fierce competition among rivals who are building competing technology and business models to approach the new market.

Much as the fintech wave has sparked investments and deal-making among legacy bank technology vendors and payment processors, Experian, TransUnion and Equifax are entering partnerships and making investments.

In a downturn, some fintechs, such as independent lenders, will be more vulnerable to economic forces than those working to service banks' regulatory needs.

As lawmakers meet this week to discuss artificial intelligence, they should work with regulators to create universal and workable definitions.

As lawmakers meet this week to discuss artificial intelligence, they should work with regulators to create universal and workable definitions.

Aura is one of the few fintechs in the nation to have a community development financial institution designation from the Treasury Department.

Democratic presidential candidate Pete Buttigieg said the way credit scoring is done in the U.S. is fraught with inequality and he's worried the process may get worse with systems based on artificial intelligence.

Banks fear that more competition from nonbanks in commercial real estate will drive down pricing and lead to a relaxation of terms.

The large credit card issuers are becoming more selective about who they are extending credit to and how much they are willing to lend, their CEOs said Tuesday.

Targeting consumers with poor or thin credit, Amazon is offering a secured card with rewards on par with those offered to mainstream cardholders.

The U.S. economy is on solid footing except for one potential trouble spot, according to Bank of America's Chief Executive Brian Moynihan: leveraged loans — a business the bank has dominated for a decade.