Credit

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.

Bay Bancorp shareholders will get the added payouts if the Maryland bank's management settles a lawsuit and addresses a number of bad credits.

The Consumer Financial Protection Bureau settled a $1.1 million enforcement action on Monday with Xerox Business Services, alleging that its software misreported borrower information to credit reporting agencies.

The Consumer Financial Protection Bureau is seeking more information about consumers' experience with free access to credit scores.

Equifax Inc.’s massive data breach is proving costly.

The San Francisco firm is the latest U.S. lender to tighten credit standards amid concerns that consumers are shouldering too much debt.

Readers weigh in on a blockchain-based credit bureau, react to the CFPB’s arbitration rule and chime in on calls to invest more in women.

The Consumer Financial Protection Bureau said 42% of car loans issued in the last year had a repayment term of six years or more, a huge leap over the 26% with such terms in 2009.

Additional data such as college major enhances the ability to provide credit to thin-file consumers. But could it create other issues?

Text analysis holds the promise of improving lenders’ ability to evaluate which borrowers will repay, but it also carries substantial risks.

Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger.

The Alabama bank's provision for loan losses rose 59%, but it still reported an 8% increase in 3Q profits thanks to stronger margins and fee income.