cuj bulletin lead

'Out of the shadows': Use of alternative data in lending gains ground


Financial regulators’ statement cautiously encouraging banks to go beyond traditional underwriting in their lending decisions is a big step forward for the use of alternative data and artificial intelligence, bankers say.


Bankers may turn to Supreme Court in credit union membership suit


An appeals court on Thursday denied bank groups an en banc hearing from all 11 appellate judges, but bankers said Friday that they're considering turning to the Supreme Court.


Credit unions prevail over banks in battle for military base access


House and Senate lawmakers have denied a push by banking groups to grant banks the rent-free access to military installations that credit unions have.


Banks top credit unions in customer satisfaction, survey finds


New American Customer Satisfaction Index data shows consumers slightly favored banks, which are benefiting from investments in technology.


Arizona ballot effort reframes payday lending debate


Over the last decade, American voters have proved remarkably receptive to bans on high-cost consumer loans. Next year, a proposed ballot measure in a traditionally red state trending purple will offer a test case for the durability of that consensus.


What CFPB’s day in court will mean for FHFA


The Supreme Court is ready to weigh in on the CFPB’s leadership structure, but both agencies are facing similar constitutional challenges, suggesting a broader impact of any decision.


Nothing comes easy for CFPB in payday lending rule


The restriction on how often a borrower’s account is debited was supposed to be relatively straightforward, but one lender is trying to fight that provision.


Zuckerberg fails to assuage lawmakers on Libra


As Congress continues to seek answers about the proposed ccryptocurrency, the appearance by Facebook’s CEO cast further doubt on the project’s future.


ICBA plans major offensive in fight against credit unions


The group's Wake Up initiative will include legislative and regulatory proposals, along with added resources to help members push for a level playing field.


CFPB extends temporary HMDA relief for small institutions


Institutions that offer fewer than 500 open-end lines of credit will get another two-year exemption from reporting requirements under the Home Mortgage Disclosure Act.