The Consumer Financial Protection Bureau ended a consent order earlier than expected against the credit bureau TransUnion, saying the company already paid a $5 million fine and $3 million to consumers.
The lender reported $33.3 million in net income in the third quarter this year, up from the second quarter and same period a year earlier.
Rocket Companies lost $124 million on a GAAP basis, but its management celebrated milestones regarding its Redfin and Mr. Cooper acquisitions.
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A trade group for participants in the clean energy loan program argues the upcoming regulations will be too burdensome and costly for participants.
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The volume of home equity lines of credit expanded for the 14th consecutive quarter, driven largely by fintechs and other nonbanks that are accounting for more and more of the business.
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Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.
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A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments.
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Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
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VantageScore's claims of outperforming Classic FICO rely on flawed methods and biased comparisons that overstate its impact, according to analysts from AEI Housing Center.
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FICO's claims about its 10T score highlight how its monopoly has stifled innovation and raised costs for homebuyers, according to the CHLA's Rob Zimmer.
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With comments on the proposed repeal due Sept. 26, stakeholders must demand decisions based on data — not politics, according to the founder of 480 Advisors.
Mortgage companies see a lending future backed by artificial intelligence, but there may be as many questions as answers to what the path might look like.
There's a 13-percentage-point differential in the use of "advanced" mortgage fraud detection tools between banks and non-banks, with costs as a major reason why.
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ON-DEMAND VIDEOKC Mathews, executive vice president and chief market strategist at Commerce Trust breaks down the FOMC meeting.
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ON-DEMAND VIDEOThe markets are waiting for the Federal Open Market Committee to make its next move.
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ON-DEMAND VIDEOThe Federal Open Market Committee will meet on June 17-18. While no rate cuts are expected at this point, things can change quickly. Lauren Saidel-Baker, economist at ITR Economics, provides her take on the meeting the new Summary of Economic Projections and Fed Chair Jerome Powell's press conference.
