Banking

A "spike in unusual traffic" caused service degradation for the infrastructure giant, disrupting digital banking for customers.

The multi-year, $100 million agreement will allow users to take financial actions without leaving the ChatGPT app.

Mortgage credit availability increased 2.3% to 106.8 last month, marking the fourth consecutive month of growth.

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.

The Consumer Financial Protection Bureau is considering a proposal to reduce its oversight of auto finance lenders, saying the benefits of supervision may not justify the "increased compliance burdens."

At its first investor day in a decade and a half, the nation's second-largest bank pegged its guidance for return on tangible common equity at a slightly higher level than what it reported last quarter. Not all investors were impressed.

The Consumer Financial Protection Bureau has seen a rapid drop in the effectiveness of its cybersecurity program, according to a new report from the Fed's Office of Inspector General.

Late-stage mortgage delinquencies hit the highest level since January 2020 in September, a new report from VantageScore found.

Several claims in a recent Loan Think column misrepresented how credit scores and resellers work in mortgage lending, according to the president of the National Consumer Reporting Association.

The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.

Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention.

Regulators are nearing a key step in overhauling credit scoring as the MBA touts its influence on GSE policy and close alignment with Washington leaders.

Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.

Other studies have found fewer credit pulls could be viable, but this shows millions more would be adversely impacted than in a bi-merge.

Transunion will offer the credit scoring model for $4 in 2026, following previous moves made by VantageScore partners Experian and Equifax.

Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.

Renters who pay on time deserve credit toward homeownership, and new data tools can make that possible, according to the owner of Burkentine Real Estate Group.

The Cincinnati, Ohio-based bank delivered third-quarter earnings that mostly met expectations, even as it took a $200 million blow to credit.

The Charlotte, North Carolina-based bank reported net income of $1.45 billion for the third quarter and earnings per share of $1.04, which beat analysts' forecast of $0.99 per share.

Zions Bancorp. is among the latest banks to report material losses due to alleged borrower fraud. Stocks of regional lenders plunged on Thursday.