Banking

Compared to their older counterparts with similar limited credit history, Gen Z and millennial borrowers were also more likely to move into higher tiers of creditworthiness between 2021 and 2023, according to new research.

Lower commodity prices and decreases in government assistance are expected to push farm income lower this year and raise credit risk for banks.

The Justice Department and the CFPB are increasingly relying on emails among employees that contain discriminatory comments to strengthen their hand in cases against lenders.

State restrictions on the use of credit scores appear to help a wide range of consumers cut homeowner insurance costs to varying degrees, according to Matic.

It will take time for the banking industry to work through issues with CRE loans, Brian Moynihan says in discussing the aftermath of last year's banking crisis and New York Community Bancorp's recent warning about its exposure to troubled debt.

The troubled Long Island-based lender laid out steps that it's taking to improve its loan-review process. The remediation efforts follow a massive loan provision last quarter, which led to a management shake-up and a $1 billion rescue led by former Treasury Secretary Steven Mnuchin.

The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.

Voters approved Proposition C, which offers a tax break for developers to convert up to 5 million square feet of commercial space by 2030.

The commercial real estate market is already contending with a historic downturn, but some investors now worry that servicers will make surprise decisions that end up significantly hurting their returns in deals.