Auto lending

A California company called NEFT wants to provide the online meeting place where debt-laden borrowers get together with lenders and credit bureaus to negotiate repayment plans. Backed by some prominent investors, NEFT says it offers carrots to get all the parties to participate.

The Consumer Financial Protection Bureau hit an indirect auto lender and a subsidiary with $48.3 million in fines and restitution on Thursday, accusing it of deceptive collection tactics.

Lawmakers from both political parties on Tuesday sharply criticized the Consumer Financial Protection Bureau's attempt to restrict or eliminate auto dealers' ability to markup a loan by citing their partnering lenders, arguing it would result in higher prices for consumers.

The CFPB hired Dr. Bernard Siskin three years ago to serve as the agency's expert witness when it brings discrimination cases against lenders. But Siskin has also been hired by JPMorgan Chase, Citigroup and other big banks to represent them in bias cases against the CFPB, causing issues for the agency.

WASHINGTON — Fifth Third Bank must pay a total of more than $21 million to settle separate claims by the federal government that the bank's indirect auto-loan business discriminated against African-Americans and that the bank deceptively signed up customers for a credit card add-on product.

Activity at credit unions has been on the rise since the Bank Transfer Day movement in November 2011. It remains to be seen, however, if credit unions can succeed at keeping many of those relationships.

Alliance Data Systems has agreed to work with Toyota on a new line of private-label credit cards and to manage the Japanese automaker's existing co-branded card program.

Bank of Montreal, Canada's fourth-largest lender, has agreed to buy General Electric's transportation finance business in the U.S. and Canada.

Prestige Financial Services, which focuses on car buyers who are in the bankruptcy process, is trying to keep pace in a fast-growing market.

Banks are seeing steady growth in consumer loan demand nationwide, particularly in auto loans and mortgages, according to a report released Wednesday by the Federal Reserve Board.