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.” 

The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.

Bank of America is moving three months early on its most recent plan to raise its hourly base pay. “Until the labor market eases, the weight of wage growth is going to be strong,” CEO Brian Moynihan said during a CNBC interview.

The lawsuit filed by the Philadelphia company's CEO claims an opposing board faction lacks a quorum. Hill seeks to bar the group from reinstalling founder Harry Madonna.

The Federal Reserve’s forceful moves to fight inflation are resetting expectations about how quickly banks will need to start raising their deposit rates.

GradFin offers advisory services to Americans who want assistance with their student loans. The acquisition is part of the Cleveland bank’s strategy of adding niche digital businesses.