News Topic: Morning scan

Online lender’s co-founder says “negative press” from lawsuits has become a “distraction”; company sought lighter regulation and limited legal liability for credit bureaus. ... Read full article

The FBI and at least two states are looking into the data breach; Harvey shut lots of banks, but mobile banking apps keep customers operating. ... Read full article

Credit bureau says records of 143 million consumers were compromised; state agency penalizes Habib Bank for enabling terror financing. ... Read full article

Company is third fintech firm in the past few months to seek its own bank charter; vice chair’s departure gives Trump four vacancies to fill on the Federal Reserve Board. ... Read full article

Husband and wife claim they were fired for raising concerns about the bank’s sales practices; commercial mortgage-backed securities on pace to top last year’s volume. ... Read full article

CFPB director gives political speech but avoids saying if he will run for governor in Ohio; Treasury is looking into getting rid of the "too big to fail" label. ... Read full article

Bank undercounted fake accounts and says it also opened more than 500,000 bill-pay accounts; CFPB director provides “no further insights” on his future. ... Read full article

Bank of New York basically controls the market for clearing Treasuries and repos after Chase withdraws; compliance pushed back to July 1, 2019. ... Read full article

Following short-term disruptions from Harvey, Texas bankers expect a long-term lift to the local economy; Buffett’s company officially becomes the bank’s largest shareholder. ... Read full article

CFPB and OCC are looking at auto lenders’ policies regarding so-called GAP insurance; banks want greater collateral from retailers. ... Read full article

Fed chair says post-crisis financial reforms have strengthened the banking system and the economy; consumers again comfortable borrowing against their home equity. ... Read full article

U.S. Bank and Wells Fargo to use Blend software to speed up mortgage origination processes; Robert Kaplan wants to keep stress tests on big banks. ... Read full article

The credit card issuer paid $95 million to settle charges it offered inferior terms to customers in American territories; Mitsubishi UFJ wants to become a top 10 U.S. bank. ... Read full article

Bank earnings rose nearly 11% in the second quarter, according to the FDIC; Goldman lobbying to kill or weaken the rule to boost its bond trading performance. ... Read full article

Hackers are stealing enthusiasts’ phone numbers, then changing the passwords to clean out their financial accounts; bank makes pledge to human rights groups. ... Read full article

Prodigy Finance, a London-based graduate student lender, gets $240 million in new funding round; Bitcoin Cash value soars. ... Read full article

The bank agrees to pay $6 million to a California couple a judge said was illegally foreclosed on; do rewards programs help or hurt card issuers? ... Read full article

Basel Institute says enforcement is the problem; wealth advisor says bank steered clients away from her to white colleagues and blocked her promotion. ... Read full article