Banking

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.

The National Consumer Law Center is claiming the Credit Data Industry Association wants to suppress Consumer Financial Protection Bureau complaint filings.

IMBs outperform banks, face outsized scrutiny, and confront rising affordability challenges, according to the President of the Community Home Lenders of America.

Tri-merge mandates prop up a credit bureau/FICO oligopoly, raising mortgage costs with little benefit despite risk concerns, the chairman of Whalen Global Advisors argues.

A Community Home Lenders of America adds arguments against use of single bureau while another paper takes the position that the idea merits further study.

The San Francisco-based banking giant reported solid gains in credit card and auto lending as credit remained in check and quarterly operating costs declined from a year ago.