Michigan on Monday approved a charter for a new financial institution designed for lesbian, gay, bisexual and transgender customers, clearing the way for online service to begin early in 2020.
A legislative measure would have made the Golden State the first in the nation where aggrieved borrowers could sue their servicers. The bill was delayed until 2020 after banks and other financial companies expressed opposition.
A subsidiary of Citizens Financial Group placed first in a recent J.D. Power ranking of car dealer satisfaction with noncaptive auto lenders. However, that group — primarily banks and credit unions — lagged other types of auto lenders.
Deutsche Bank overhaul plan will put taxpayers and the financial system at risk; the San Antonio company names three women to key technology positions; issuers like Chase and Citi need to think beyond traditional card options; and more from this week's most-read stories.
Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom.
