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. ... Read full article
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. ... Read full article
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. ... Read full article
New American Customer Satisfaction Index data shows consumers slightly favored banks, which are benefiting from investments in technology. ... Read full article
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. ... Read full article
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. ... Read full article
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. ... Read full article
As Congress continues to seek answers about the proposed ccryptocurrency, the appearance by Facebook’s CEO cast further doubt on the project’s future. ... Read full article
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. ... Read full article
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. ... Read full article
Hood's comments mark an unusual turn for an industry famous for its bipartisanship. ... Read full article
Officials said Thursday that they will not take regulatory action against state-chartered banks and credit unions solely for serving licensed cannabis businesses. ... Read full article
By declaring that she has too much statutory power, the agency’s director has potentially opened a floodgate of litigation. ... Read full article
