Banking

Big banks and institutional lenders approved small-business loans at record rates in May, according to data from Biz2Credit.

The Consumer Bankers Association praised banks' discipline on managing credit quality for student loans after a report showed a drop in delinquencies.

The Federal Trade Commission, in testimony before the U.S. Senate Special Committee on Aging, highlighted its approach to protecting consumers from unwanted telemarketing calls and illegal robocalls.

The Spanish-language TV channel Univision has launched a new online small-business lending platform.

Citizens Financial in Providence, R.I., has signed a five-year agreement to outsource some of its IT infrastructure to IBM.

The number of vacant and abandoned properties that are in foreclosure decreased in the second quarter, according to a RealtyTrac report.

Marketplace lending company Lending Club is teaming up with a California-based nonprofit organization to make loans to small businesses that otherwise would have had their applications rejected.

The mortgage lender Nationstar Mortgage Holdings is pouring a lot of energy into a digital and mobile homebuying platform called Xome. The strategy could attract tech-savvy millennials but carries plenty of risks including whether consumers would be improperly steered to its products.

The Consumer Financial Protection Bureau issued a final rule Wednesday that allows it to monitor the biggest nonbank auto finance companies.

More than a dozen housing groups are urging lawmakers to pass legislation that would grant lenders a formal grace period for implementing new disclosure forms later this summer, arguing that the industry needs greater certainty than the Consumer Financial Protection Bureau has so far provided.

Prosper Marketplace, the first peer-to- peer lender in the U.S., is planning to charge an extra fee to investors who want to bundle its loans into bonds in order to offset its increased costs from the securitization process.

The digital currency world is readying itself for more regulatory penalties over the failure to meet Bank Secrecy Act and anti-money-laundering requirements following federal agencies' action against Ripple Labs last month.

Big banks and institutional lenders approved small-business loans at record rates in May, according to data from Biz2Credit.

New Buffalo Savings Bank in Michigan has filed plans to convert from a mutual thrift to a stock-owned institution.

The "Digital Bankers of the Year" for 2015 selected by Bank Technology News are innovators pushing their organizations to better serve customers. Their high-tech efforts range from reaching the underbanked in Africa to helping prospective homebuyers look beyond the "for sale" sign through a mobile app.

Bank of America will close drive-up teller windows at a dozen branches in Nashville and reduce in-store hours at an additional group of branches, The Tennessean reported.

Young Americans Bank, a niche institution in Denver focused on children, has a mission to create good future banking customers, but CEO Richard Martinez says kids today are cautious about credit after watching their parents struggle through the downturn.

With the onset of the new integrated disclosures rule, mortgage lenders owe it to their companies to make sure that operations folks have the chance to get out to events and workshops that will keep them informed and updated on new industry requirements.

Diebold contacted Wincor Nixdorf about a potential acquisition last week, according to a person familiar with the matter who asked not to be identified because the matter is confidential.

City National in Los Angeles, which is being acquired by Royal Bank of Canada, has hired three wealth advisers for its New York office.