Critics have knocked the product, which provides workers access to their wages before payday, as another form of predatory lending. But California has a new bill that would create a legal framework for this short-term lending alternative, and policymakers ... Read full article
Regions Financial said Thursday that it will not renew its contract with GreenSky — a move analysts say could prompt other banks to re-examine their lending arrangements with the fintech. ... Read full article
"Institutional support" spurs cryptocurrency price gains; the regulation limits what banks can charge for going negative on accounts. ... Read full article
The Defense Credit Union Council and the Association of Military Banks of America sent dueling letters to Congress about whether banks should pay for space on military installations. ... Read full article
It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed. ... Read full article
The legislation from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez is part of an effort to shift the range of what is thinkable in Washington to the left. It may also serve to highlight the vulnerabilities of Democrats with bank-friendly records. ... Read full article
The Atlanta company reported a first-quarter revenue increase of 22%, and it has established a more aggressive target for the full year. ... Read full article
Proposals to modernize the Community Reinvestment Act should be geared toward making concrete improvements, not upending parts of the law that are already working. ... Read full article
MidFlorida Credit Union has agreed to buy the $730 million-asset Community Bank & Trust of Florida in Ocala. ... Read full article
Readers respond to JPMorgan's Twitter gaffe, weigh the role banks should play on issues like climate change, consider the impact of artificial intelligence on fair lending and more. ... Read full article
Conduent Education Services has agreed to pay $3.9 million to the CFPB for failing to provide accurate account balances on more than 200,000 student loans. ... Read full article
Government officials must address the policy questions raised by the use of artificial intelligence in credit decisions. ... Read full article
The surge in originations during the first quarter more than offset a decline in demand for new leases. ... Read full article
Even as consumer and CRE lending slowed in the first quarter, business lending — particularly to middle-market companies — surged. But some banks are already warning that the growth could taper off as competition from nonbanks heats up. ... Read full article
The Birmingham, Ala., bank's profits fell 32% as its loan-loss provision tripled. The expense covered “isolated, one-off issues” in its commercial and consumer loan portfolios, CEO Javier Rodriguez Soler said. ... Read full article
Thirty-day delinquency rates, a harbinger of future write-offs, also increased at all seven of the largest U.S. card issuers in the first quarter. ... Read full article
The strong growth in commercial lending made up for more modest gains in credit card and auto lending, its two largest business lines. ... Read full article
The Wilmington, Del., company's new product relies on technology developed by Earnest, a startup that it acquired in 2017. ... Read full article
A panel of federal judges determined that Think Finance and an online tribal payday lender must comply with state interest rate and licensing laws. ... Read full article
As the bank's board conducts its search for a new CEO, it should exclude Wall Street titans from any shortlist. ... Read full article
