Commercial lending

CIBC's Victor Dodig has big plans for the U.S., but other bank execs speaking at an investor conference Monday warned of risks in certain sectors.

Millennials — many of whom joined credit unions in recent years as the movement's membership expanded — are relying more heavily on personal loans than their Gen X predecessors while paring back on credit cards and mortgages.

The agency has earmarked all funds from a Hurricane Harvey recovery package for direct relief, despite calls to get more bankers involved in the process. It remains to be seen how the agency will handle the cleanup for Hurricane Irma.

It’s highly debatable whether the artificial intelligence engines that online lenders typically use, and that banks are just starting to deploy, are capable of making credit decisions without inadvertent prejudices.

Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.

The digital bank will also help San Francisco-based Lendeavor’s expansion efforts.

The Wall Street giant on Wednesday played up its customer service skills, saying that representatives of its Marcus personal-loan unit answer calls within 10 seconds.

The company said it could use the proceeds to fund acquisitions and to make more loans.

Quaint Oak in Pennsylvania is making a big push in real estate brokerage, a business that many state-chartered banks might think is illegal for them to pursue.

Snap Finance provides credit at the point of sale, primarily to consumers with bad credit.

On Jun. 30, 2017. Dollars in thousands.

Karen Mills, former head of the Small Business Administration, says the glut of online lenders could help entrepreneurs obtain funds quickly.

Manuel Mehos, CEO of Green Bancorp in Houston, looks back at his company’s decision to exit energy lending last year. “The oil business is not what it used to be,” he says.

The agency has a relatively new program designed to quickly get funds into disaster-stricken areas. The problem is that many bankers don't know it exists.

Sure, personal loans have a long way to go to catch up in market share with other forms of consumer credit, but millennials are relying more heavily on them than their Gen X predecessors while paring back on credit cards and mortgages. Online lenders are a big reason, and banks are exploring ways to adjust to changing habits.

The Canadian bank blamed flat profits at its U.S. business, which includes Chicago-based lender BMO Harris Bank, partly on Washington gridlock that has stalled pro-business reforms.

The startup, which offered credit lines of up to $1,000, hoped to tap into the millennial generation's frustration with overdraft fees.

The designation allows the $1 billion credit union to process SBA loans within 36 hours and to approve them without sending them to the agency first.

Federal Reserve Chair Janet Yellen defended post-crisis reforms but allowed that further adjustments may be necessary to reduce adverse effects on small businesses and subprime borrowers.

With the deadline for a federal-debt-limit renewal nearly a month away, bankers are dreading the prospect of higher funding costs, strained liquidity, weaker commercial loan demand and other ramifications if Washington does not act.