Key insight: New York’s Medallion Financial is counting on a newly hired home-improvement lending team to boost loan growth in 2026. Supporting data: At the one-time taxi lender, medallion loans now comprise less than 1% of total loans. Expert quote: “The last five years, we’ve made more than we have in the first 85 combined. […]
Medallion stresses home improvement to drive 2026 growth Read More »
Key insight: Attackers are bypassing technical security by impersonating IT staff and tricking employees into handing over credentials. What’s at stake: The leak hits Figure during a critical financial window, coinciding with the pricing and upsizing of a secondary stock offering. Supporting data: The breach exposes approximately 967,000 unique email addresses, along with names, physical
Data breach hits 1 million Figure customers Read More »
Key insight: A report from the White House Council of Economic Advisers claimed that the Consumer Financial Protection Bureau’s rules raised consumer interest rates and reduced the availability of credit since its inception. Supporting data: The report says the agency’s actions raised consumers’ borrowing costs by between $237 to $369 billion over the 13 years
White House report says CFPB raised borrowing costs Read More »
Key insight: The three credit bureaus — Equifax, Experian and TransUnion — say the complaint portal is being abused by third-party credit repair firms and AI bots. What’s at stake: Credit repair firms are using the CFPB’s complaint portal to try to remove accurate but negative information from credit reports. Supporting data: Credit reporting complaints hit
CFPB implements new requirements for complaints on its portal Read More »
Forward look: Wells Fargo is projecting $50 billion in 2026 net interest income, a 5% increase over the 2025 result. Expert quote: “The cash flow, the spending levels, the credit performance has all been quite good so far.” — Chief Financial Officer Mike Santomassimo, commenting on Wells’ consumer results Supporting data: Wells’ total assets reached
Strong consumer results push Wells Fargo profits higher Read More »
Key insight: Consumers’ use of home equity lines of credit is rapidly growing, as homeowners look to tap into the value of their houses, but banks are losing market share. Supporting data: Banks hold just under two-thirds of total HELOC debt, compared with the more than 80% they held some 15 years ago. Forward look:
Banks are losing share in rapidly growing HELOC market Read More »
Key insight: The Consumer Financial Protection Bureau released a jam-packed rulemaking agenda for the year ahead. Supporting data: The latest unified agenda lists 24 rulemakings including five final rules, 10 proposed rules, 9 pre-rules and one long-term item. What’s at stake: The bureau is in a legal battle to fire between 80% and 90% of
CFPB’s deregulatory agenda aims to rewrite Biden-era rules Read More »
hand holding envelope with overdue bill- vector illustrationAdobe Stock Late-payment rates among U.S. households remained elevated in the second quarter of 2025, driven in part by another steep slide into serious delinquency by student loan borrowers. By the end of June, 4.4% of Americans’ total outstanding debt was in some form of delinquency, according to
More consumers are in delinquency as student loans sour Read More »
Americans are increasingly worried about financial fraud, a new survey finds – even if many of them are willing to bend the rules themselves. In a new report from FICO, 32% of Americans ranked fraud protection as their most important consideration when choosing a financial account, with 71% putting it in their top three issues.
Consumers fearful of fraud, but willing to exaggerate income Read More »
Senate Banking Committee Chair Tim Scott, R-S.C., left, and committee ranking member Elizabeth Warren, D-Mass.Bloomberg News WASHINGTON — Senate Banking Republicans can go ahead with cuts to the Consumer Financial Protection Bureau’s funding after the Senate parliamentarian approved nearly halving the amount that the bureau can draw from the Fed’s total operating budget. Last week,
What the big, beautiful bill now has in store for the CFPB Read More »