Credit

Banks should not point blame at the credit bureau but rather should step up and demonstrate their commitment to their customers. If you punt the problem to Equifax, it suggests you don’t really care.

Senate Finance Committee leaders sent a letter to Equifax CEO Richard Smith scrutinizing the scope of the company's data breach and its response.

Lawmakers signaled Monday that Congress will likely have a swift and powerful response to revelations that the credit reporting company Equifax was hacked, exposing 143 million people to identity theft.

Overall mortgage lending increased by 20% in the second quarter but was still down from a year earlier, according to Black Knight Financial Services.

As head of Fannie Mae's single-family mortgage business, Andrew Bon Salle wants to ease the burden of loan-level price adjustments, streamline condo loan approvals and expand rep and warrant relief. But even he admits there are limits to his power.

A credit service provider agreed to exit the industry on Wednesday after a yearlong lawsuit with the Consumer Financial Protection Bureau.

Millennial credit scores are lower than when Generation X consumers were coming of age, reflecting changes in credit consumption and other consumer behaviors.

Auto, personal and credit card originations have fallen as delinquencies have risen, but researchers called the slowdown a temporary rebalancing by lenders.

FHFA Director Mel Watt said Fannie Mae and Freddie Mac cannot use alternative credit models until other issues are resolved first.

A bipartisan duo of lawmakers is set Tuesday to introduce a bill designed to increase homeownership opportunities for “credit invisible” consumers.

The share of closed purchase loans remained flat in June, affected by the lack of homes for sale, according to Ellie Mae's Origination Insight report.

Executives at four former credit repair companies agree to pay $2 million for charging consumers millions in illegal advance fees.

The HUD secretary said millennials are being shut out of the market but the purchase of a condominium unit is often the first step to homeownership.

The accounting board has scheduled a meeting that bankers hope will produce eleventh-hour modifications to reserving requirements.

Lower credit scores for mortgages refinanced in the first quarter are likely to lead to increased defaults of these loans, said Black Knight Financial Services.

An aggressive band of community, regional and investment banks is stepping into the commercial real estate void left by more cautious lenders, saying there are still good CRE loans to be made or bought.

This is a good time for bank risk managers and bank regulatory examiners to evaluate the effects of a deepening retail crisis on the financial services sector.

The Wisconsin regional's profits rose 35% in the first quarter on healthy loan growth, wider margins and an improved efficiency ratio, and it said its "satisfactory" CRA rating had been restored.

The Consumer Financial Protection Bureau said Experian sold consumers an "educational" credit score and falsely claimed in advertisements that the score was used by lenders to make credit decisions.