Banking

Noninterest income at the Minneapolis-based company jumped more than 10% during the third quarter, while asset quality improved and expenses held steady. "Our focus is very much on organic growth," said CEO Gunjan Kedia.

America's second-largest bank revised its net interest income target upward after what analysts called a "clean" third quarter.

Plaid said LendScore should be viewed as complementary to FICO and other traditional players in the space, but there could be room for disruption in the future.

CEO Bill Demchak said there seemed to be "some confusion," after PNC's stock fell some 4% on Wednesday.

If Experian eventually charges for VantageScore 4.0, it will be offered for at least a 50% discount compared to what Fair Isaac Corp. charges for its FICO score.

The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman.

The megabank's multiyear effort to simplify its business model and improve its risk management is starting to pay off in the form of more consistent profitability and improved returns, CEO Jane Fraser told analysts.

In order to believe in the idea of "competition" in credit scores, the Washington housing community must believe that large institutional investors who buy whole loans and mortgage-backed securities are really, really dumb, writes the Chairman of Whalen Global Advisors

Equifax will hold costs for scores from FICO rival Vantagescore through 2027 and offer other incentives meant to drive adoption of the alternative metric.

New Federal Reserve research reveals that identity theft victims who use extended fraud alerts often see significant and lasting credit improvements.

Federal Reserve Gov. Michael Barr is warning small banks about the growing threat from fraudsters' use of AI-generated deepfakes. But he also says AI may be able to help community banks fight fraud more effectively.

The truth is straightforward: the VantageScore 4.0 credit score outperforms the outdated FICO Classic credit score for mortgage, writes the chief data scientist at VantageScore.

Fifth Third announced it plans to buy the Dallas bank in a $10.9 billion transaction.

VantageScore's claims of outperforming Classic FICO rely on flawed methods and biased comparisons that overstate its impact, according to analysts from AEI Housing Center.

The credit scoring agency's rollout comes after years of criticism from home lenders over its prices, with delivery costs rising over 40% in the past year.

FICO's claims about its 10T score highlight how its monopoly has stifled innovation and raised costs for homebuyers, according to the CHLA's Rob Zimmer.

The move will lead the New Jersey-based bank to eliminate over 100 employees, primarily within its mortgage lending operations, according to a state filing.

VantageScore 4.0 is more predictive than Classic FICO, offering a measurable lift in identifying high-risk borrowers and avoiding losses, according to the chief data scientist at VantageScore.

The deal for the Class A office building owner will be funded from Rithm's cash as well as liquidity on the balance sheets, plus possible co-investors.

The government-sponsored enterprise is making changes to mortgage-backed securities and servicing disclosure files to support use of the advanced credit score.