The first credit union in Virginia was established in 1923 to serve postal workers who lacked access to traditional banking services. In exchange for their service to people of modest means, credit unions were granted a generous tax exemption. That ...

Throughout the banking history of the United States, credit unions have played a distinctive role in providing financial services to their local small- to medium-sized businesses (SMBs). Rooted in regional communities and built around a member-owned model, credit unions earned ...

Pre-market trading indicates investor unease surrounding Fannie Mae, driven by a fresh industry report highlighting rising loan defaults. The data arrives amid ongoing scrutiny of the mortgage giant's recent easing of borrower qualifications, prompting market participants to question the sustainability ...

Auto lenders and dealers are likely to face tighter scrutiny and more aggressive enforcement from Democratic state attorneys general, guided by a new playbook Rohit Chopra helped design while running the CFPB. His move into a formal advisory role for ...

Bank of America expects artificial intelligence (AI) to have a growing effect on the economy next year and beyond. Speaking Monday (Dec. 22) with Bloomberg Television, Bank of America CEO Brian Moynihan said that AI had an increasing impact this ...

The CFPB has allocated $46 million to victims of Synapse Financial Technology’s collapse. The Consumer Financial Protection Bureau (CFPB) announced the payment from its Civil Penalty Nov. 28, though it came to light late last week in reports from Bloomberg ...

The CFPB’s new Buy Now, Pay Later (BNPL) market report shows that BNPL is still growing quickly, but growth is slowing, loan sizes and usage per user are rising, and credit performance has improved even as more consumers use these ...

California is helping lead a coalition of 21 states and the District of Columbia suing the Trump administration over a freeze on funding for the Consumer Financial Protection Bureau (CFPB). The states argue the administration is illegally trying to defund ...

Fifth Third Bancorp has appointed former Fannie Mae president and CEO Priscilla Almodovar to its board of directors, effective January 7, 2026, succeeding retiring director Thomas H. (Hal) Harvey. Almodovar brings more than 35 years of leadership experience in complex, ...