The Consumer Bankers Association and the Center for Responsible Lending said the Consumer Financial Protection Bureau should renew its efforts to level the regulatory playing field between larger bank and nonbank companies that make installment and other kinds of personal loans.

More than 350 investors put money into Agility Bank, a de novo minority depository institution that opened in May. It raised nearly $41 million, well surpassing its $30 million goal.

The Minneapolis company, which increased its minimum wage to $18 an hour in June, will bump it up to $20 in response to inflationary and competitive pressures.

Auto loan growth eased substantially in the second quarter amid competitive pressures from credit unions and other lenders.

As regulators mull the Toronto bank's deal for First Horizon and broader guidelines around bank combinations, community groups called for stronger investment commitments from the two banks before they are allowed to merge. 

A new bipartisan senate caucus organized around community development financial institutions is just the latest sign that the sector's political influence is reaching new heights. 

The Consumer Financial Protection Bureau said a company doesn't need to experience a data breach for the agency to consider taking action.

Rising interest rates, lower stock prices and other headwinds have caused many banks to pump the brakes on dealmaking. But some are betting that these trends will be too short-lived to deter them from engaging in mergers and acquisitions.

Huntington Bancshares has hired Shawn Lough, a veteran Truist Financial banker and West Point graduate, to help guide the sales strategy and goals of its consumer and business banking operation. It also expanded the duties of Digital Director Mark Sheehan to include deposits.

The Consumer Financial Protection Bureau's review of credit card late fees has ignited pushback from industry that supports an expected 9% jump in fees next year pegged to inflation. 

The Consumer Financial Protection Bureau is investigating some of the bank's credit card practices, including refunds, billing errors and credit bureau reporting, according to a securities filing Thursday.

Even though delinquency rates were previously at extremely low levels, the recent uptick among poorer consumers is worth monitoring, New York Fed researchers said.

The McLean, Virginia, company is starting to “trim around the edges” of its auto portfolio, CEO Richard Fairbank said. That move stands in contrast with Capital One's leaning into its credit card business, which helped push marketing spending above $1 billion.

Like other mortgage lenders, the San Francisco megabank has been cutting staff since refinancing volumes started to fall. Additional layoffs are expected over the next couple of quarters, according to the bank’s chief financial officer.

Klarna Bank, which advertises itself as a way to spread the cost of the latest brands and smartphones, is shelling out loans for milk and gas with cash-strapped customers looking for ways to cover basic necessities.

Business owners are seeing their cash flow strained by the highest inflation in 40 years and mounting costs to borrow money.

The two regional banks announced plans to abandon nonsufficient fund fees and make other moves that will reduce the revenue they collect from cash-strapped consumers.

The credit card issuer Synchrony Financial recently used FICO’s top competitor in a $1 billion deal. The choice is significant for VantageScore, but FICO remains the dominant credit score in the securitization market, according to analysts.

Increased interest income would boost lending profitability, but only if borrowers are confident enough in the economy to take out loans. And that's just one of the issues hammering banks' shares.

Martin Gruenberg, the agency' acting chair, said it will be watching commercial real estate and other assets as matters of “ongoing supervisory attention.”