Banking

A FICO survey shows 33% think exaggerating income on credit applications is acceptable. Ironically, many also prioritize strong fraud prevention from banks.

As high interest rates make refinancing impossible for many homeowners, increasing numbers of them are turning to HELOCs and home equity loans for cash.

The student loan giant fell far short of Wall Street's expectations, but its leaders say President Trump's "Big Beautiful Bill" is likely to bring it billions of dollars in new business.

The two Southeast banks agreed to combine in a transaction valued at $8.6 billion. Synovus CEO Kevin Blair would be chief executive of the combined bank, but a slim majority of board members would come from Pinnacle.

Flagstar Bank wants to merge its holding company into the bank, which would cut $15 million in annual expenses and eliminate regulatory oversight by the Federal Reserve, leaving the OCC as its primary regulator. The bank's CEO, Joseph Otting, is a former comptroller of the currency.

Complaints to the Consumer Financial Protection Bureau have skyrocketed in the first half of 2025, due in part to an increase in payment scams generated by social media that target peer-to-peer payment platforms such as Zelle, Venmo and other apps.

A July pickup in activity is just a start, experts say. The banking industry's drive for scale and greater efficiency is expected to drive a renewed wave of consolidation, pushing the institution count lower.

The North Carolina-based regional bank still expects its revenue to outpace its spending this year, though if interest rates hold steady, it could "create some risk," a top executive said Friday.

Calls for applications for a bank-specific program within the Community Development Financial Institution Fund have been delayed, raising the possibility that those funds are unspent before the appropriated money expires.

Historically high interest rates and falling late-payment rates suggest that credit card issuers are tightening their underwriting standards amid economic uncertainty.