Continue in 3 seconds
The British banking giant has been testing its new online lending platform with a handful of its U.S. customers and plans to roll it out in full force next year. It's all part of a broader effort to expand its U.S. consumer business beyond credit cards.

Get AB in your inbox

The Latest

  • What banks can be thankful for this year

    The past year has been a wild ride for everyone, but it has left bankers in particular with many reasons to count their blessings.Consider, first of all, the recent legislative action on Capitol Hill. After the surprise Republican sweep during last year's elections, bankers began putting together a wish list for policymakers, which included lower corporate taxes and a higher asset threshold for systemically important financial institutions. Congress has taken steps to address both issues.Regulatory agencies in Washington are also becoming more business friendly. In early February, days after the administration took office, The Wall Street Journal asked White House economic adviser Gary Cohn how the president planned to rein in the Consumer Financial Protection Bureau. “Personnel is policy," Cohn responded.Important personnel changes swung into motion this month. CFPB Director Richard Cordray last week announced his long-anticipated resignation, setting off a wave of speculation about his potential successor. Additionally, the Senate confirmed Joseph Otting as comptroller of the currency. The president also named Jerome Powell his choice for chairman of the Federal Reserve, to succeed Janet Yellen.In addition to public policy matters, business is going well. Big banks such as JPMorgan Chase and Bank of America have posted their highest profits since the financial crisis. Community banks are holding their own in commercial lending as the rest of the industry struggles at it.So, bankers, say a word of thanks for the current business and political environment. Yet remember — as last year's election demonstrated — things can change quickly.
  • JPMorgan said to weigh offering CME bitcoin futures to clients

    Bitcoin’s eight-fold surge in value this year is forcing Wall Street banks to balance clients’ interest in speculating on the cryptocurrency with executives’ skepticism about its future.
  • Fed interest payments to banks are here to stay, Yellen says

    Federal Reserve chair Janet Yellen said interest on bank reserves should remain the central bank’s primary monetary policy tool
  • Uber concealed cyberattack that exposed data on 57M people

    Hackers stole the personal data of 57 million customers and drivers from Uber Technologies, a massive breach that the company concealed for more than a year.
  • Ripple adds former NYDFS head to board of directors

    The digital-currency startup, which markets software to banks, appears keen to signal that it wants to play by the rules.
  • CFPB orders Citi to pay $6.5M for student loan failures

    The Consumer Financial Protection Bureau on Tuesday ordered Citibank to pay $6.5 million in consumer relief and penalties for student loan servicing failures.
See all of The Latest

BankThink

See all BankThink

Research

See all Research

Resources

See all Resources