Credit

The company received bad news about the commercial loan after it reported a narrow profit in mid-February.

The Consumer Financial Protection Bureau is among several agencies that "continue to investigate events related to" last year's Equifax brief, the credit reporting firm said in a securities filing.

The tax reform law passed late last year, which significantly cut the corporate tax rate, has been widely popular among banks, but a one-time hit to the value of their deferred tax assets was felt far and wide.

Artificial intelligence is expected to bring financial services to millions, yet it could also make unethical decisions that unfairly deny credit and widen the divide between haves and have-nots, says Nicolas Economou of the nonprofit Future Society.

Stuart Gulliver’s final set of results at HSBC Holdings Plc weren’t quite the swansong he’d hoped for as he hands the reins over to his long-term lieutenant, John Flint.

For many newcomers to the U.S., establishing credit is a big challenge. A handful of entrepreneurs are developing tools to help verify their financial histories.

It is unclear whether the Consumer Financial Protection Bureau is abandoning its supervisory oversight of Equifax or just taking a back seat to the Federal Trade Commission as the latter investigates the credit bureau.

The Federal Housing Finance Agency said Friday it will give commenters more time to weigh in on a potential update to the credit scoring requirements for Fannie Mae and Freddie Mac.

After reporting its fourth-quarter earnings, the subprime auto lender said it expects the new tax law to enable more car owners to stay current on their loans.

The proposed legislation would give the agency authority to increase funding for the 7(a) program — with several caveats designed to manage exposure.

The proposed legislation would give the agency authority to increase funding for the 7(a) program — with several caveats designed to manage exposure.

David Nelms said that many digital lenders do not understand how to underwrite personal loans properly, and he took a dig at their lack of profitability. The upstarts say their industry's ability to attract capital speaks for itself.

The hunt for solid credit card customers is driving issuers to try creative new approaches, including digging deeper for good prospects who fall outside the usual parameters of U.S. credit scoring models.

Burned by a 2007 deal in Florida, Park National in Ohio had several years to reflect on lessons learned before agreeing to buy NewDominion Bank in Charlotte, N.C.

The results also included a large one-time benefit tied to recently passed tax reform.

The Arkansas company has spent two years trying to reassure nervous investors and analysts that it can rapidly book real estate loans using conservative practices.

The Arkansas company's net income topped $100 million for the first time, though it largely reflected the revaluation of its deferred tax liability.

Housing regulators should not adopt an alternative credit scoring model until the banking industry is on board.

Readers react to the Federal Housing Finance Agency considering changing its credit scoring policy, slam the possibility of enforcing mandatory penalties for data breaches at credit reporting agencies, weigh the possible nomination of a credit union regulator to the CFPB, and more.

In some ways the Canadian bank's U.S. consumer business is only now shaking off many of its crisis-era problems here. CEO Darryl White is pinning his retail-comeback hopes on a rejuvenated sales culture and a focus on more profitable customers.