Commercial lending

The public-private effort, aimed at expansion-minded tech and other companies with proven track records, would be backed by the country’s six largest banks, insurance companies and regional lenders.

The Kennesaw, Ga.-based firm, which makes online installment loans to borrowers with blemished credit records, currently operates in 14 states.

The Innovative Lending Platform Association and the Coalition for Responsible Business Finance announced Monday that they are joining forces.

Personal financial management tools have long relied on financial data aggregation. Now, aggregators are hoping traditional lenders will take a cue from alternative lenders and use the technology to quicken their underwriting decisions.

Much like how Amazon went from selling books to selling cloud services, the online lenders that succeed well into the future will change how they do business, Scott Sanborn said.

Credit unions are working with crowdfunding platforms to help businesses find additional capital.

Vacancies and rent-slashing have some banks worried that certain markets are overheating, but others say the decline in nonperforming loans is a sign the sector has never been healthier.

The San Carlos, Calif., firm is following a similar blueprint as other online lenders — launching with a particular loan product, refining its algorithms, and then seeking to expand into other corners of consumer finance.

KPMG said Webster did not properly document a change in the way it calculates its provision for loan losses. The bank does not expect to restate its results or incur any meaningful increase in costs because of the problem.

It would encourage tighter underwriting of commercial mortgages, something the investors say is sorely needed.

Banks are seeing mostly positive or neutral trends in loan demand and broader economic indicators in the first six weeks of 2017 and are upbeat about future prospects, according to the Fed's Beige Book.

The largest U.S. bank’s yearslong effort to do more business with midsize commercial firms has progressed in fits and starts but never met expectations. More patience will be required, but executives say the payoff could be sooner rather than later.

The longtime bank analyst is one of many who lost their jobs when CLSA shut its U.S. equity research unit; marketplace lender forms group to buy $5 billion of loans

Prosper Marketplace will receive as much as $5 billion in loan funding under a deal that will provide investors an equity stake in the San Francisco company

It’s unclear whether connecting lenders and borrowers over the internet offers any advantages over traditional lending, according to panelists at the Structured Finance Industry Group conference in Vegas.

Commerce Union had been focused on expanding around Nashville, Tenn., until a lender based 120 miles away was available to hire.

Banks are partnering with tech companies to win back some of the small-business customers that the industry lost to fintechs.

The industry had cause to celebrate when the regulator revamped its MBL and FOM regulations, but several fights are brewing.

The Pittsburgh company is acquiring the U.S.-based commercial and vendor-finance operations of ECN Capital.

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