Banking

The Trump administration is seeking to fire roughly 90% of the Consumer Financial Protection Bureau's staff and is fighting for that right in court. But if the administration prevails, can other consumer protection authorities from other federal regulators pick up the slack?

The Mortgage Bankers Association chief thinks the move could fit in with regulatory goals, and it's getting pushback like an earlier version of the concept did.

Regulators' decision to lift a seven-year-old cap on the size of the megabank's balance sheet will produce benefits over the long haul, but it won't result in any sudden gains, according to CFO Michael Santomassimo.

Marianne Lake will oversee strategic growth and the company's fast-growing overseas consumer bank. 

The Department of Justice is seeking to terminate a Biden-era lending discrimination settlement with Lakeland Bank. Last month, the DOJ took similar action in a case involving Mississippi-based Trustmark National Bank.

While mortgage originations increased, borrowers focused their attention on big-ticket items, as credit account balances flattened overall, Vantagescore said.

A federal housing official pledged to take near-term action on credit score costs as two legislators have urged him not to allow fewer credit reports.

A recent deal involving a troubled Texas bank shows that even the most lopsided depository can find an exit.

Fair Isaac Corp.'s shares saw their worst day since March 2020 on Wednesday, falling alongside credit bureau stocks after the head of the Federal Housing Finance Agency questioned credit report pricing. 

As the Federal Deposit Insurance Corp.'s Deposit Insurance Fund inches toward replenishment, acting Chair Travis Hill suggested that banks should be assessed on a range of metrics rather than insured deposits alone.