Fintech

The Nashville bank has recruited a veteran commercial lender in Asheville who had worked with First Horizon, and it has hired four more bankers in Chattanooga.

The agency issued an advisory opinion warning that credit reporting bureaus and other entities using credit checks can no longer use disclaimers to bypass privacy protections.

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help. 

The Federal Reserve’s aggressive rate hikes are leading corporate clients to demand higher deposit rates, according to industry consultants. Some banks are better positioned than others to weather the changing landscape.

With alternative payment methods one app or click away, a short service disruption can lead to a permanent loss of trust.

The retail industry, which wants the Federal Reserve to lower a decade-old price cap, has been complaining that higher prices for consumers mean heftier interchange fees. But banks are pointing out that the $10 billion-asset threshold below which financial institutions are exempt from the cap hasn’t been adjusted for inflation.

It took 100 years, but St. Landry Homestead Federal Savings Bank decided on a drastic name change — to Catalyst Bank — to end confusion with a local rival and signal its loftier aspirations.

After being hard-hit financially by the pandemic and the surging inflation that followed, the generation entering adulthood is meshing their love of late-‘90s nostalgia — think cargo pants, bucket hats and disposable cameras — with a dose of old-fashioned frugality.

A dirty little secret in a $1.2 trillion world of credit is getting exposed as the Wall Street rout deepens: Private debt is now the cheaper financing option for big-ticket leveraged borrowers than the ailing public market — upending industry norms.

Inflation isn't only driving up travel costs — a key category for credit card spending — it's making shoppers more selective about how they earn and redeem loyalty points for products hit hardest by price increases.