Payday lending

Springleaf's proposed acquisition of Citi's OneMain Holdings is being delayed by the Justice Department, which appears focused on preserving competition at the local level — even as a raft of new subprime installment lenders are popping up on the Web.

Traditional banks avoid the short-term-credit market because its customers demand a level of customer service that is inconsistent with current models of retail banking, the head of a payday lending group writes.

Cash America International, a payday lender in Fort Worth, Texas, has named Brent Stuart chief executive.

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including banks' subpar shareholder value and how big-data advocates can better communicate with critics who worry about the technology's potential discriminatory effects.

Small installment loans with monthly payments limited to 5% of a borrower's income offer a way for banks to serve low-income customers' credit needs while turning a profit.

In a rapidly growing market outside the purview of the Truth in Lending Act or state usury caps, online lenders' rates and fees can be next to impossible to compare.

The new regulations are meant to close loopholes in an interest rate cap that applies to active-duty soldiers and sailors. But financial institutions won at least one important concession.

The Department of Justice's Office of Professional Responsibility said it found no support for allegations that federal lawyers wrongly pursued legal online payday lenders and forced banks to cut ties with legitimate businesses.

The Republican presidential contender is reviewing legislation opposed by banks that would allow payday loan stores to expand into a variety of new products and services.

The former operators of an online payday lending scheme in the Kansas City area will be banned from the consumer finance business under a proposed settlement with the Federal Trade Commission.