CFPB at long last defines enigmatic ‘abusive’ standard

01/24/20

In the past, the agency cited the legal term in enforcement actions without stating what it meant, but Director Kathy Kraninger has sought to give the industry clearer guidance.

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Sallie Mae's foray into personal loans proves short-lived

01/24/20

The company best known for student lending expanded into personal lending less than two years ago. Now it says it is refocusing on core strategic priorities.

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Discover's shares tumble after warnings on costs, credit quality

01/24/20

The credit card lender has seen problem loans spike since it introduced a feature that lets at-risk customers restructure loans through its online and mobile channels.

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CFPB backers tell high court that agency's structure is legal

01/24/20

Democratic lawmakers, state attorneys general and others filed briefs with the Supreme Court rebutting claims that the agency’s leadership structure is unconstitutional.

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Food delivery apps to blame for stressed restaurant loans: BankUnited

01/24/20

As more consumers order in using such services as Uber Eats and Grubhub, restaurants are selling fewer desserts, drinks and other high-margin items, said CEO Rajinder Singh.

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New York faces more empty storefronts as bank branches shrink

01/24/20

With mobile banking on the rise, New York City is joining a trend that's already sweeping the rest of the country. Fewer bank branches. Smaller bank branches.

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Critics of credit union-bank mergers have it all wrong

01/24/20

Bankers may not want to hear this, but communities benefit when credit unions buy banks.

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FICO gets tougher on credit scores; Goldman pushes diversity

01/24/20

The changes will mean a bigger gap between the best and worst borrowers; the bank will require companies they take public to have a ‘diverse’ board member.

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Far from cheering CRA reform, CDFIs are worried

01/23/20

Community development financial institutions could stand to gain from efforts to modernize the Community Reinvestment Act, but they fear the proposal offered by regulators may end up draining their capital.

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Behind Wells Fargo's ploy to pin sales misconduct on 1% of employees

01/23/20

Documents released by the Office of the Comptroller of the Currency Thursday allege that senior leaders had reason to know that the wrongdoing was widespread but failed to act.

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