Credit

The digitally savvy lender MyBucks, which has lent money through a smartphone app and chatbots on WhatsApp and Facebook Messenger, could be a good role model for U.S. banks thinking of using AI in credit decisions.

The credit bureau enraged many with its response to a massive data breach this fall, but closing the company down would ultimately harm consumers.

Readers sound off on Mick Mulvaney’s plan to hire political appointees at the Consumer Financial Protection Bureau, question what’s behind the failure of Washington Federal Bank for Savings in Chicago, react to an argument that Equifax must endure, and more.

It was a bad year for the CEO of Equifax, the founder of a high-flying fintech and the regulatory agency bankers love to hate.

The two government-sponsored enterprises have relied on the “classic” FICO credit scoring model for the past 12 years. But the Federal Housing Finance Agency is weighing whether the GSEs should upgrade to more recent scoring alternatives.

The credit bureau enraged many with its response to a massive data breach this fall, but closing the company down would ultimately harm consumers.

The company will set aside more than $10 million, with most of the provision addressing an issue with a commercial loan.

Acting director Mulvaney has major concerns about cybersecurity at the agency; the commission says a Canadian company's initial coin offering is a 'scam.'

The bank has taken a decisive step to protect its asset quality, but the move also raises questions about what will drive loan growth in the future — and whether the company is on the block.

Citing the dim financial outlook for a business it entered just six years ago, the Wayzata, Minn., company will stop making auto loans on Dec. 1.