Technology

Consumers across all generations, from millennials to baby boomers, want more online and digital communication with their mortgage lender, according to a survey from Velocify.

Equifax observed an increasingly well-worn ritual of scandal-ridden firms by jettisoning CEO Richard Smith: apologize, promise to do better in the future, and sacrifice your top executive in the hopes it will ward off action by Congress and regulators.

Inevitably, Equifax’s CEO Richard Smith has left his post. For the credit bureau's sake, let's hope it has a long-term plan that's better than promoting from within.

Richard Smith has resigned from the embattled Atlanta credit reporting company and will be replaced by Paulino do Rego Barros Jr., a seven-year company veteran. Board member Mark Feidler, a former telecom executive, was named nonexecutive chairman.

Acting Comptroller of the Currency Keith Noreika on Monday gave a ringing endorsement to online lenders seeking to expand into banking, suggesting they should consider taking deposits and seek out national bank charters as they mature.

Sen. Elizabeth Warren, D-Mass., is broadening her probe into the data breach to look at whether the company should have disclosed the breach sooner and if it plans to claw back compensation.

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired.

A Consumer Financial Protection Bureau proposal would limit how much Home Mortgage Disclosure Act data is released to the public in an effort to protect consumer privacy.

Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely.

Digital mortgages transform the customer experience with slick user interfaces and data integrations that streamline the process of getting a borrower hooked up with a lender. Now it's time to disrupt the rest of the process.