Payments

The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.

The agency's director said both steps will come as part of an ongoing review of agency rules and show her "commitment under the law to be effective and evidence based” in providing clarity to stakeholders.

Consideration of whether each job can be done remotely is part of Payrailz's holistic approach to developing its workforce. Currently, about two-thirds of the staff works remotely.

Companies that scored highest in this year’s Best Fintechs to Work For (a ranking compiled by our parent company, Arizent) go beyond the basics of strong pay packages, generous benefits and effective leadership to take a more holistic interest in their employees’ lives, according to the data.

Yale researchers have recommended several consumer banking products and services that could help those with mental health challenges manage their money.

When the former vice president and Massachusetts senator appear together in Houston, they could present two contrasting visions of financial policy within the presidential field.

A year after the major credit bureaus agreed to strip tax liens and civil judgments from consumers' credit files, a new study says it is hampering lenders' credit decisions. But proponents of the move insist it was the right call.

Kristy Kim was an immigrant success story with a degree from Berkeley and a lucrative job — except her lack of credit history precluded her from getting a car loan. She started TomoCredit to help the many young folks who struggle to qualify for a credit card.

Mortgage activity fell at the start of the year, but lower mortgage rates are boosting refinance volume, and Generation Z is starting to creep into the housing market, according to TransUnion.

Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins.

The Minneapolis bank reported growth across several lending and noninterest income categories in the second quarter, which offset net interest margin pressures and declining deposit service fees.

The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue.

While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening.

The merged bank would set up an innovation and technology center in Charlotte as part of its bid to compete better against the largest institutions and fintech startups.

As suspense builds over which firm will be the first to seek the special-purpose charter, a side discussion has emerged over which financial services sector has the most to gain — or lose — from the new option.

Consumer lending should also be a bright spot, while mortgage lending could be suppressed by rising rates and tight housing supplies.

More consumers fell behind on their loans in the third quarter of 2018, even as average wages rose and the unemployment rate fell to a 50-year low.

In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.

Mortgage debt outstanding remains below pre-crisis levels and home equity is growing, even as overall consumer debt is on pace to surpass its previous 2008 peak by $1 trillion, according to LendingTree.

The post-recession boom in auto loans and credit cards for borrowers with marred credit histories has been winding down in recent months.