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Grupo Coppel and Insikt, an online lender, would appear to be cut from different cloth, but they share an expertise in providing credit to working-class, largely Hispanic consumers. The retail conglomerate also operates 1,000 bank branches in Mexico, mixing banking and commerce in a way that U.S. regulators have not allowed.
December 13 -
Assemble allows Mastercard partners or issuers to provide checking, budgeting and payment features, as well as additional money management.
December 12 -
Jenn LaClair will replace Chris Halmy, who is retiring. She most recently headed up PNC's business bank.
December 12 -
House and Senate bills contain a provision that would let financial firms in all states use digital scans of photo IDs to verify identities of prospective customers. That could ease the account-opening process for consumers in areas where branches are few and far between.
December 12 -
Some are in new roles or replacing legends, others are embracing new strategies or eyeing big deals and at least one is currently out of banking — but could soon resurface. Here are the industry executives to keep an eye on in 2018.
December 11 -
OneUnited is trimming branches and expanding digital offerings as it builds its brand as a backer of social justice that develops innovative products such as a Black-Lives-Matter-themed debit card.
December 11 -
House and Senate bills contain a provision that would let financial firms in all states use digital scans of photo IDs to verify identities of prospective customers. That could ease the account-opening process for consumers in areas where branches are few and far between.
December 11 -
The short-term loan industry is suddenly playing offense in Washington following Mick Mulvaney's appointment as acting head of the Consumer Financial Protection Bureau.
December 8 -
The grant monies will go to 12 credit unions in 17 different states.
November 29 -
California-based CU grew loans by 15.2 percent, assets, memberships rise.
November 20 -
Carver Bancorp, which has spent 70 years serving minorities in Harlem and surrounding neighborhoods, is struggling to turn a profit. As black-run banks nationwide struggle to stay afloat, Carver's CEO insists the institution is on the right track.
November 20 -
Spuck will take over at the credit union in early December as longtime CEO Jim Brisendine prepares to retire.
November 16 -
Evidence that the credit characteristics of online installment borrowers at the time of repayment are consistently worse than at the time of borrowing should be a sobering thought for lenders that have not been fully tested in a credit downturn.
November 15
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The Cleveland Fed's conclusion that U.S. consumers are typically worse off after getting online loans encountered strong pushback from industry groups and the company that provided the data.
November 14 -
Consumers who have borrowed from online lenders owe more and have lower credit scores than similarly situated consumers who have not used online lenders, according to a study released Thursday by the Cleveland Fed. The provocative findings seem likely to spark intense debate.
November 10 -
The credit union's board has appointed CFO Arlene Bernard to the position of interim CEO while a nationwide search for McFadden's successor is underway.
November 9 -
Nick Moalli succeeds John Keet, who is retiring from the credit union after nearly two decades there.
November 9 -
Adding retirement accounts broadens the app's offerings to millennial clients.
November 8 -
Comerica's chief accounting officer since 2010, Carr will replace David Duprey, who is retiring early next year.
November 8 -
The banks' newest offerings hope to attract young clients and keep them there for life. But they face stiff competition.
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