The Equifax breach has millions of Americans now thinking about freezing their credit to guard against identity theft. But those who act could be cutting themselves off from the nation's vast credit economy.
Mike Cagney’s eventual successor will have to decide whether to continue his focus on rapid growth. Also on the table are strategic decisions about when to go public and whether to pursue a bank charter.
Millennials — many of whom joined credit unions in recent years as the movement's membership expanded — are relying more heavily on personal loans than their Gen X predecessors while paring back on credit cards and mortgages.
It’s highly debatable whether the artificial intelligence engines that online lenders typically use, and that banks are just starting to deploy, are capable of making credit decisions without inadvertent prejudices.
As Republicans policymakers pursue efforts to revamp the Consumer Financial Protection Bureau and replace its leadership, state agencies are already preparing to fill any vacuum that might ensue if the CFPB steps back.
A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders.