In her New Year’s message, CFPB Director Kathy Kraninger called on the agency to ensure that consumers are treated fairly and that “the marketplace is innovating.”
Facebook’s WhatsApp unit has been testing its payments app in India since May; investors price in an almost a 90% probability of no Fed hikes this year.
Bank portfolios are chock full of loans to industries — think agriculture, tourism, real estate and energy — that could be particularly hard hit by warming temperatures. Some large banks are engaging in "scenario analysis" to mitigate the risk.
New CEO John Turner hasn't fully laid out his vision for the future, but it clearly will involve hiring specialized lenders, balancing labor-saving AI with old-fashioned relationship building, and more streamlining.
One bank is tracking the habits of its 4.4 million customers, giving them discounts on services if they visit the gym or get a flu shot. Other companies may soon follow suit.
Several fintechs are testing apps that let customers gain more say over how third parties use their data — and hope to one day be able to give them the power to revoke access to it entirely.
With a divided Congress in place, policymakers will face challenges in passing major financial legislation this year. But there are still a number of core issues set to be debated.
Spirit Community Bank is the 15th bank to get the agency's approval this year. That list also includes Community Bank of the Carolinas, which was approved in early December.
A Colorado businessman's request for a preliminary injunction to stop the bank from using the name “Erica” has been denied. The overall case could still go to trial, but skeptical comments by the judge suggest BofA will likely prevail.
