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The industry’s profit was $60.2 billion, a more than 7% increase from the previous record set in the first quarter and a 25% leap from a year earlier, the agency said in its quarterly report on the industry's health. ... Read full article

The service can be useful for customers short on cash, but financial institutions need to clarify overdraft rules and develop alternative forms of credit. ... Read full article

The 100 dismissals in asset management follow job cuts in other divisions; the agency cites the lack of protections against fraud and market manipulation. ... Read full article

Upgrade, a marketplace lender founded by Laplanche just a few months after he was ousted from LendingClub, has secured more than $100 million in equity capital and says it is poised to offer more consumer credit products. ... Read full article

Sen. Heidi Heitkamp, D-N.D., has compromised with Republicans on key issues and supported other Trump nominees, but she said Kathy Kraninger lacks enough experience to run the consumer bureau. ... Read full article

The regulation implements a recent legislative provision dealing with how banks comply with post-crisis liquidity requirements. ... Read full article

A heist in India appears to be the very thing U.S. law enforcement had foretold. But banks shouldn't let their guard down, because cybercrooks have raised raids on cash machines to an art form. ... Read full article

JPMorgan Chase, Citigroup and Goldman Sachs are among foreign lenders protesting a Russian central bank plan that would drastically reduce their ability to move funds from local units to their parent companies outside of Russia. ... Read full article

After years of scant progress on diversity measures, Citigroup has created hard targets for raising the percentages of women and African Americans in management positions by 2021, according to an internal memo from Chief Executive Officer Michael Corbat. ... Read full article

With strategic changes at key trade groups and attention shifting away from regulatory relief for community banks, the interests of large institutions have taken on more prominence. ... Read full article

The agency said the market for larger rental investors may not need additional liquidity from Fannie Mae and Freddie Mac. ... Read full article

The employee who made sexual harassment allegations against the agency’s director also claims Watt withheld her pay increase after she refused his advances. ... Read full article

The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages. ... Read full article

The senator's proposed legislation includes a ban on individual stock ownership and restrictions on government employees joining the lobbying ranks. ... Read full article

Thibault Fulconis recently became CFO of the digital banking venture Varo Money, which has applied for a national bank charter. ... Read full article

Canadian banks will likely report profit gains of as much as 10% in the third quarter as four rate increases by the Bank of Canada make consumer and commercial loans more profitable. ... Read full article

New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks. ... Read full article

The bank said the candidate planned to accept money from the medical marijuana industry; the crash in digital currency prices’ long-term consequences. ... Read full article