Banking

TransUnion cuts VantageScore 4.0 to $0.99, aiming to boost lender choice and affordability as FHFA pushes mortgage score modernization and competition.

The House Financial Services Committee passed a legislative package heavily favored by banks in a 26-16 vote

Banks like Grasshopper are already starting to use AI agents where in the past they would have bought software as a service.

Chicago-based mortgage lender Rate is partnering with Westlake Financial to offer in-app auto loans, advancing its push into product diversification and broader household financial services.

Willamette Valley Bank cited consumer shifts to nonbanks and stubborn interest rates behind the decision, joining a line of institutions to exit since 2025.

Total consumer debt in the United States hit $18.2 trillion by the end of last year, with $12.8 trillion attributed to first mortgages, according to Equifax.

Competitive credit could offer nine-figure cost benefits, according to a study VantageScore cited. FICO, which just added a new borrower tool, disagrees.

The agreement between servicing technology platform Vertyx and Great Lakes Credit Union arrives as the mortgage industry sets its focus on borrower retention.

The New York City-based lender, whose roots lie in taxi lending, believes an expanded home-improvement loan operation will generate mid-teen loan growth this year.

TransUnion projected moderate growth in 2026 for mortgages, projecting purchases and refinances to increase 4% and 4.2% year over year.

Data breach extortion group ShinyHunters used social engineering to steal customer names, addresses and phone numbers from the blockchain lender.

A White House Council of Economic Advisers report published Tuesday found that the CFPB cost consumers between $237 and $369 billion since its creation, an analysis that consumer advocates and some financial academics say is flawed.

An ugly legal dispute between two San Diego credit unions offers a warning about what can go wrong when careful relationship-building doesn't precede a marriage.

The Consumer Financial Protection Bureau's complaint portal has been flooded in recent years, but corporate debt collectors, industry attorneys and consumer advocates question whether the bureau's efforts to reduce the volume will help consumers as much as it helps the firms they're complaining about.

Mortgage tech's speed is undermined by flawed credit data, causing costly fallout. Lenders must treat data accuracy as a pipeline risk, not a peripheral issue, according to the founder of Consumer Attorneys

A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.

Bowing to industry pressure, the Consumer Financial Protection Bureau is warning consumers with notices on its complaint portal not to file disputes about inaccurate information on credit reports, among other changes.

American Banker's 2026 Predictions report finds that nonbank entities and check fraud are major threats to local banks in the coming months.

Fraudsters and modestly dishonest employees can use generative AI to quickly create convincing fake utility bills, pay stubs, passports and other documents banks rely on.

The documents that the Housing Policy Council obtained from FHFA show past debate over one newer score and concerns about a single report with redacted context.