Fintech

Banks and financial institutions face a barrage of lawsuits from consumers alleging they failed to investigate inaccurate information on a credit report. Industry blames the uptick in litigation on social media sites and the proliferation of credit repair companies.

The Consumer Financial Protection Bureau's attacks on credit card reward programs don't square with the fact that the vast majority of consumers are very satisfied with their service.

The best-performing larger Main Street Banks, those in the $2 billion to $10 billion asset class, were asset sensitive, a position that worked to their advantage as rates continued to climb in 2023.

U.K. banks are testing machines that can accept deposits from multiple machines.

The Biden administration should widen the scope of its junk fee initiatives and provide small- and medium-size businesses with relief from excessive international payments charges.

The rocky journey and abrupt end of the technology company's fledgling buy now/pay later service underscores ongoing challenges facing fintechs that offer point-of-sale installment loans, and how banks may benefit from the changing BNPL ecosystem.

A $30 billion settlement between Visa Inc., Mastercard Inc. and retailers to cap credit-card swipe fees is likely to be rejected by a federal judge in Brooklyn, a setback in the two decade-long litigation.

PNC has cut its credit card late fees to $8, and Wells Fargo has eliminated the charges on one new card. The moves signal that issuers are already adjusting to a CFPB rule that's currently on hold amid a court challenge.

Fifteen million Americans who owe a combined $49 billion in medical debt would benefit from a proposal by the Consumer Financial Protection Bureau to scrub medical debts from credit reports and ban their use in underwriting decisions.

Late payments, which have been on a steady rise since 2021, are now climbing at a slower rate or even declining at some major card issuers. Risks remain, but there's 'reason to be cautiously optimistic," one analyst said.