Capital One delivers earnings beat as merger scrutiny intensifies
The credit card heavyweight outpaced analysts’ profitability expectations in the third quarter, but its pending acquisition of Discover Financial Services faces a new potential obstacle.
Fed cites bank named in Ponzi scheme suit
The Federal Reserve said it identified consumer compliance deficiencies in a recent examination of Washington State-based UniBank.
California begins registration of financial service providers
California’s Department of Financial Protection and Innovation is requiring registration by mid-February of debt settlement firms, earned wage access providers, private secondary education financing and student debt relief services.
Eagle in Maryland grinds to a profit, but turnaround in early innings
The bank cut its dividend, raised capital, hired multiple top executives and vowed to reduce its commercial real estate concentration after a bruising first half of 2024.
Upstart pivots to prime lending for partners like Alliant Credit Union
The credit union has been using Upstart’s AI-based loan decision model to help creditworthy consumers consolidate their credit card debt.
CFPB’s Chopra wants Basel rule finalized ‘as quickly as possible’
Consumer Financial Protection Bureau Director Rohit Chopra said regulators urgently need to implement the Basel III endgame bank capital proposal, suggesting his opposition to the revised rule centers on the process of re-proposal rather than more substantive opposition to suggested revisions.
CFPB issues guidance on modern-day worker surveillance
The Consumer Financial Protection Bureau warned companies about modern-day surveillance of workers and requirements to follow the Fair Credit Reporting Act.
American Banker Young Women’s Leadership Award
The Young Women’s Leadership Award grants four $5,000 college scholarships given to New York City high school seniors who are first generation college students.
Election season, economic power drive latest interest rate volatility
While the recent upward movement has dampened borrowing activity, housing researchers reported encouraging signs for business this fall.
Townstone Financial may settle redlining case with CFPB
A federal appeals court this year reversed Townstone Financial’s earlier victory, ruling the regulator had authority to apply a lending law to prospective applicants.