The industry’s profit was $60.2 billion, a more than 7% increase from the previous record set in the first quarter and a 25% leap from a year earlier, the agency said in its quarterly report on the industry's health.
The service can be useful for customers short on cash, but financial institutions need to clarify overdraft rules and develop alternative forms of credit.
Upgrade, a marketplace lender founded by Laplanche just a few months after he was ousted from LendingClub, has secured more than $100 million in equity capital and says it is poised to offer more consumer credit products.
The 100 dismissals in asset management follow job cuts in other divisions; the agency cites the lack of protections against fraud and market manipulation.
Sen. Heidi Heitkamp, D-N.D., has compromised with Republicans on key issues and supported other Trump nominees, but she said Kathy Kraninger lacks enough experience to run the consumer bureau.
A heist in India appears to be the very thing U.S. law enforcement had foretold. But banks shouldn't let their guard down, because cybercrooks have raised raids on cash machines to an art form.
Enforcement actions are on the rise despite recent rollbacks of regulations. Fair lending, money laundering compliance and CRA remain focal points for examiners.
