Commercial lending

Top Democrats in the House and Senate sent a letter to Mick Mulvaney on Wednesday questioning his decision to delay the implementation of the Consumer Financial Protection Bureau’s payday loan rule.

The tool runs the numbers and tells small-business people if they would qualify for an SBA loan, and if not, what they need to do to become eligible.

The cloud-based vendor was formerly a division of Live Oak Bank.

Commercial lending and mortgage income surged in the fourth quarter at the West Virginia bank thanks to two acquisitions, but a tax charge cut into profits.

The House Financial Services Committee held a hearing Tuesday on the fintech industry as Congress is still beginning the conversation about what a legislative approach should look like.

The Minnesota bank was able to realize a large net tax benefit in the same quarter it took a big charge to exit auto lending, so in the end its profits doubled.

The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending.

The credit union’s members want products to help with cash flow, working capital and business expansion

The results included a $222 million goodwill impairment charge and other one-time items.

The online lender to small businesses is expanding its business deeper into traditional banks’ territory with larger loans.

On Sep. 30, 2017. Dollars in thousands.

The proposed legislation would give the agency authority to increase funding for the 7(a) program — with several caveats designed to manage exposure.

Meta Financial expects to originate $500 million to $1 billion in personal loans as part of a three-year partnership with Liberty Lending in New York.

The proposed legislation would give the agency authority to increase funding for the 7(a) program — with several caveats designed to manage exposure.

Earnings at the Santa Clara, Calif., company were boosted by a 16% increase in lending and gains on the company's investments in Roku.

Mick Mulvaney and Richard Cordray set themselves apart from the run-of-the-mill Beltway bashing of late when their war of words over the CFPB went positively bookish.

Despite the increase in loan demand, the New Jersey company swung to a loss in the quarter as it devalued its deferred tax asset.

David Nelms said that many digital lenders do not understand how to underwrite personal loans properly, and he took a dig at their lack of profitability. The upstarts say their industry's ability to attract capital speaks for itself.

The new tax law also resulted in more than $22 million of charges at the New Jersey-based bank.

Double-digit growth in total loans more than offset higher chargeoffs and a decline in fee income at the Pasadena, Calif., company.