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At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.
10h ago -
Investors are facing recent pressure after Republic First's collapse, allegations of criminal activity by an executive at Old National and a pending CFPB rule affecting credit card fees.
May 20 -
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Gaps in traditional means of assessing creditworthiness are being filled by new kinds of information, such as cash flow data. The result will be good for both banks and borrowers.
May 20 -
The payday loan industry is looking to extend its years-long legal fight with the Consumer Financial Protection Bureau. It's planning to ask a federal appeals court to revisit a ruling that upheld a proposed limit on how often payday lenders can try to pull money from their customers' accounts.
May 17 -
The $116 million deal to acquire HMN Financial in Rochester would mark the 26th acquisition of this century for Alerus. The transaction is slated to close in the fourth quarter.
May 15 -
The VantageScore 4plus product pulls in standard credit file information while also analyzing bank account balance and other transactional data to create an adjusted score
May 15 -
The number of borrowers who are at their credit limits is approaching its pre-pandemic level, and the percentage of balances that are sliding into delinquency has hit its highest rate in more than a decade, according to new research. Still, card companies are generally expressing optimism about their credit outlooks.
May 14 -
The small business lender's bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.
May 14 -
Executives also say funding pressures have begun to ease, though high interest rates and deposit costs remain a leading worry, according to new surveys.
May 14