The three former Washington Federal Bank for Savings board members were accused of giving the OCC false information in an attempt to hide embezzlement. They could face up to five years in prison for attempting to deceive the OCC.

The racially targeted mass shooting at a Buffalo, New York, grocery store in 2022 has renewed conversations about whether banks have a duty to help segregated, impoverished communities that were shaped in part by discriminatory lending practices. What do banks owe the Black community, and what influence could they have?

Rising interest rates on loans, greater borrowing and higher fees on deposit accounts all contributed to the increase. "Altogether, this paints a picture of debt that could really start to strain the checkbooks of American families," said Meghan Greene, a researcher at the nonprofit organization that authored the report.

The American Bankers Association's Economic Advisory Committee said access to loans is likely to further soften, while defaults and credit losses could increase in the second half of the year.

Consumer Financial Protection Bureau Director Rohit Chopra warned that "powerful firms" must not dominate the new open banking landscape.

The Providence, R.I.-based bank has been scaling down its indirect auto lending program since last year.

The Consumer Financial Protection Bureau issued only 20 enforcement actions in 2022, but some observers say the enforcement numbers belie the results that director Rohit Chopra is getting from other ways of holding companies accountable.

Community banks tapped the brakes during the first quarter, citing higher interest rates, recession threats and fallout from regional-bank failures. Fed data shows the trend has continued into May, and executives are preaching caution.

Delinquency rates in credit cards, auto and personal loans are effectively back to normal after three years of unusually strong credit performance. Industry executives say the current situation is easily manageable, but they do anticipate that key metrics will continue to worsen.

The Philadelphia-based company will eliminate an undisclosed number of jobs as part of a plan to refocus on core business lines and markets, CEO Thomas Geisel said.