Retail & Commercial

Though still a microscopic part of the estimated $11 trillion consumer lending market, peer-to-peer lending is going to matter in a big way sooner than you think, say those familiar with the sector.

San Francisco-based Credible announced Monday the launch of a service that will allow private student loan borrowers to price-shop online for a refinanced loan.

The Consumer Financial Protection Bureau levied a $83,000 civil money penalty on Monday against Connecticut-based First Alliance Lending, a specialty firm that focuses on providing loss-mitigation financing to distressed borrowers.

Fees on checking accounts continue to climb, especially at the largest banks, as free checking accounts slowly become an endangered species. But the price creep doesn't seem to have cost them customers.

OceanFirst Financial (OCFC) in Toms River, N.J., has added its president and chief operating officer to its board.

American National Bank in Oakland Park, Fla., has been freed from an enforcement action from the Office of the Comptroller of the Currency.

Bitter weather, the qualified mortgage rule's restrictive guidelines and the lingering effects of the foreclosure crisis have put a crimp in homebuying at an inopportune time for lenders.

A federal court has entered a temporary restraining order halting a deceptive work-from-home scheme that conned millions of dollars from consumers by falsely telling them they could easily earn thousands of dollars a month by purchasing bogus business coaching services and establishing their own Internet businesses.

BancAlliance processed its first member referral for a shared credit, providing hope that banks are starting to regain trust in each other to land bigger borrowers.

Fannie Mae's sales of real estate owned dropped 14% in the fourth quarter from the previous quarter, as demand for foreclosed properties weakened.