It’s the company’s responsibility to come forward with the information about how an algorithm that could be discriminating against women borrowers was designed and the exact impact of it, she said. ... Read full article
Home loan originations rose by double digits in the third quarter while auto loan originations approached an all-time high, according to new household credit data from the New York Fed. ... Read full article
The Veterans and Consumers Fair Credit Act would extend Military Lending Act protections to all consumers. ... Read full article
Top officials at Bank of America and Wells Fargo said that commercial loan demand is weak, even as U.S. consumers show strength. Their comments echo recent findings by the Federal Reserve. ... Read full article
After shaking up the financial services industry last month by eliminating commissions for all online trades, Charles Schwab is setting its sights on building out its lending services. ... Read full article
Businesses scaled back investment plans in the third quarter, but consumers continued borrowing; the bank now plans to raise its minimum wage to $20 in 2020. ... Read full article
Bank of Montreal's push into the U.S. has proved fruitful for its employees — and challenging for a company seeking to get its expenses under control. ... Read full article
Figure Technologies, which has made $600 million in home equity loans in the past year, says its next move will be refinancing student loans. ... Read full article
The credit card issuer, which recorded an 11% decline in net income last quarter, took one-time charges in connection with a U.K. sales scandal, the start of a new partnership with Walmart and a recent data breach. ... Read full article
The combination of low unemployment, rising wages and falling interest rates means more households are taking out loans for big-ticket items like speedboats and mobile homes. ... Read full article
It has already been modifying more problem loans and investing in efforts to recover charged-off loans, and now the credit card lender is ready to tighten underwriting in case the economy weakens. ... Read full article
The credit card lender responded to the closing of Toys R Us stores last year by issuing Synchrony-branded cards to the retailer's customers. Now it's testing a general-purpose card with a wider array of clients. ... Read full article
Fisher Investments is out more than $1 billion following Ken Fisher’s controversial remarks at a conference. Where do men pull ahead of women in promotions? Right from the start. Plus, a girls’ high school soccer team makes national news. ... Read full article
On Jun. 30, 2019. Dollars in thousands. ... Read full article
On Jun. 30, 2019. Dollars in thousands. ... Read full article
While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike. ... Read full article
The Minneapolis bank says recent investments in its retail operation contributed to strong improvement in home lending and mortgage banking fees. ... Read full article
During the firm's earnings conference call, Chairman and CEO David Solomon attempted to reassure investors about the costs of Marcus, declining to say when the investment bank might break even on the initiative. ... Read full article
CEO Michael Corbat said he “wouldn’t rule out” building branches to keep the momentum going. ... Read full article
Its quarterly results show lower rates and emerging credit risks can be overcome. Whether most banks have all the same levers to pull is another matter. ... Read full article
