Credit

Princeton Bancorp, which has $2.3 billion of assets, reported a sizable impairment charge tied to participation loans on a pair of office properties.

The card issuing fintech has worked for years to expand its business outside of Block. Mike Milotich, who in February became the third person to hold the fintech's top job in as many years, has been tasked to do just that.

Because of the Consumer Financial Protection Bureau's onerous regulation governing prepaid products, Americans who rely on them as their primary personal banking tool are being denied access to features available to users of similar products, such as checking accounts.

Investors seemed to agree with CEO Barry Sloane's argument that strong earnings will outweigh a jump in nonaccrual loans.

The bureau's Tuesday afternoon announcement follows an earlier statement that it would walk back a rule that places buy now/pay later loans under the Truth in Lending Act's Regulation Z, a move that will ease compliance for fintechs that offer installment loans.

Tokenization is a natural fit for the private credit market, and could help create new investment opportunities. But regulators must create clear rules of the road.

The Consumer Financial Protection Bureau sided with two trade groups in asking a federal court to vacate the medical debt rule. Consumer groups have asked to intervene and a judge has not yet ruled on the motion.

BCB Bancorp in Bayonne, New Jersey, swung to an $8.3 million loss in the first quarter due to a troubled cannabis loan. The crowded weed marketplace in the New York area is leading to tighter margins.

Affirm is reporting consumers' buy now/pay later loans to Experian, following a February study with FICO. It's one of the first steps in credit reporting for BNPL, potentially complicating banks' assessments for other types of lending.

Lower credit costs and better expense control helped the San Francisco-based titan offset the impact of lighter-than-expected revenue.

The first year of Otting's tenure as the New York lender's CEO brought substantial change, but the job isn't done. His goal: to build a powerhouse, profitable regional bank.

Lawmakers have a short window of time in which they can use the Congressional Review Act to nullify the Consumer Financial Protection Bureau's misguided rule striking medical debt from credit reports.

As Klarna wins installment lending for the retail giant's OnePay app, rival Affirm seeks to downplay the loss.

The payment company's listing comes amid market and political volatility, but the Swedish firm has its strong recent financial performance and distribution deals with JPMorgan Chase and Walmart on its side.

GetAugie targets consumers new to credit, undercutting mainstream banks' secured cards that often charge an annual fee and carry hefty annual percentage rates.

Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau's rule barring medical debt from credit reports.

The Federal Deposit Insurance Corp. said while bank earnings rose in Q4 2024, smaller banks weren't as fortunate amid realized losses on securities sales.

Big banks are investing in quantum computing. What does that mean for the future of finance? And, more importantly, will they ever become useful?

As it closes in on a New York listing, the Swedish fintech partners with the largest merchant acquirer in the U.S. by payment volume.

The Consumer Financial Protection Bureau, now led by Treasury Secretary Scott Bessent, agreed to temporarily halt enforcement and litigation over its medical debt rule, handing the banking industry an immediate reprieve.