Jon Prior

A California regulator on Monday denied a lending license to the point-of-sale financier Sezzle in a detailed written decision that could have broader consequences for upstart consumer lenders.

The decision by the state’s Department of Business Oversight on an application for a lending license by Sezzle could guide fintechs and others seeking to make loans to consumers at the time of purchase.

Lenders have until the end of 2021 to phase out their use of the London interbank offered rate in setting interest rates, but ServisFirst Bancshares and its CEO Tom Broughton see little reason to wait when a replacement is already available.

PE firms have made investments in only seven banks in 2019, compared with 21 last year. Here's what's driving the slowdown.

But some industry watchers are tempering expectations, saying that the language is too vague to know for sure if China is serious about introducing more foreign competition.

Many business customers are putting off expansion because they can’t find enough workers to fill available jobs.

The percentage of farm lenders losing money hit a six-year high in the third quarter, according to the FDIC.

CEO Charlie Scharf said in a letter to Congress that a review is underway to determine how many customers were affected by confusion over monthly fees and that the bank will begin issuing refunds next year.

Many lenders are establishing a firm bottom on variable interest rates amid intense competition for commercial credits, rising deposit costs and the possibility that the Fed could take rates to unprecedented lows.

Rep. Katie Porter, D-Calif., wants details about refunding "hundreds of millions of dollars" in fees improperly charged on checking accounts. Wells has acknowledged the potential problem but hasn't estimated how much it owes.