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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.

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.

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.

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.

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.