Fitch Rating says it noticed a greater preference for consumers to use cellphones for a longer period and previously decreased the assumptions for upgrade losses to 0.25%, from 0.35%.

The Consumer Financial Protection Bureau said it would undertake a rule to regulate large participants in the personal loan market and consider a joint rulemaking with the Federal Reserve on check and ATM hold times.

Treasury was notified on Dec. 8 by a third-party software provider that a hacker had gained access "to a key used by the vendor to secure a cloud-based service."

The company's closure comes in a year when it touted successful capital investments but also faced growing legal scrutiny.

The Financial Stability Oversight Council's annual report underscores mounting challenges in commercial real estate, escalating cyber threats, and regulatory gaps in third-party services and stablecoins, urging stronger oversight and legislative action.

The two companies will retain ties as Daniel Wallace moves to an operational leadership position at a time when non-agency mortgage opportunities are opening up.

As it gets ready for more competition from VantageScore, the company also did not comment on reports of yet another impending price hike.

The company, which helped consumers strategize their credit card payments and pivoted to a B2B model earlier this year, has sold its intellectual property two months after it folded.

Companies announced new product rollouts and capital raises last month, but some are also facing lawsuits as the industry encounters heightened attention to the lack of consumer protections.

Federal Reserve Gov. Lisa Cook called for weighing the costs and benefits of artificial intelligence, and flagged bias and fraud as areas of concern.

The company has signed an agreement to sell Continental Finance its entire card portfolio.

The banks are testing quantum computing's ability to speed up applications, to alleviate bottlenecks and to do more while consuming less power.

Federal Reserve Gov. Michelle Bowman said a lack of banking experience among regulatory officials has led to unintended consequences. She flagged mergers, fintech partnerships and liquidity proposals as prime examples.

At a New York event, industry practitioners shared how they are addressing cultural, compliance and logistical objections to making loans based on bank account data.

The Swedish institution is adding savings accounts to its signature buy now/pay later service as it plots an IPO. Analysts say it will be a struggle to go against U.S. institutions.

A long-time industry observer and bank regulation expert spells out the steps banks should take to ensure their fintech relationships are safe.

The federal Project Fortress initiative provides defensive tools for banks. Community banking groups and regulators' associations say small banks in particular need the free and accessible help.

The cybersecurity company promised more rigorous tests for software updates after a widespread IT outage last month.

Michigan-based University Bancorp is paying $30 million for a 50.5% stake in a business Voxtur acquired for $101 million in 2022.

Investing in data governance, compliance and staffing appropriately can help manage the risks of offering banking as a service, experts say.