Commercial lending

The Treasury Department announced Tuesday that members of the public will have an additional month to submit comments about the online marketplace lending industry.

First National Bank of Pana in Illinois has agreed to buy The State Bank of Blue Mound in Illinois.

Social Finance Inc. has hired Joanne Bradford, a veteran of the technology and media industries, as chief operating officer.

While marketplace lenders have introduced valuable innovation into financial services, they carry a fundamental flaw that threatens to undermine their business, destabilize financial markets and cause real economic hardship.

The Wall Street titan, having borne the costs of being a regulated bank for a number of years, is now looking to reap some of the benefits that come with a banking license.

In his first interview since taking over HSBC's U.S. bank late last year, CEO Patrick Burke contends that the U.S. bank could prove to be HSBC's hidden gem provided it focuses on multinational corporate clients and cooperates better with its global affiliates.

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As the Small Business Administration's flagship 7(a) loan program breaks records, its other loan program stagnates. Advocates for so-called 504 loans hope a drive to permit CRE refinancing will inject new life.

Banks, marketplace lenders and other nonbank lenders were dealt a setback when a federal appeals court declined to reconsider a ruling that has set off alarm bells across the consumer finance industry.

FNBH Bancorp in Michigan has been unable to make an important move without its primary regulator's OK in the six years since its nonperforming assets hit double digits. It's an extreme example of the tension between past problems and future visions that freezes many banks.

C2FO, the operator of an online marketplace for small-business financing, announced a $40 million equity funding round led by a Singapore investment firm.

Farmer Mac reported higher second-quarter profit, citing an increase in the value of financial derivatives and hedged assets.

The Office of the Comptroller of the Currency is trying to "supercharge" its process for reviewing financial innovations in an effort to keep pace with a glut of new products inside and outside the banking system.

Community Trust in Ruston, La., took the rare step of replacing its hodgepodge legacy core system. The move should cut processing costs in half. In the meantime, the bank's taking a lot of calls from confused customers.

Rejiggering the credit-scoring system won’t do much to expand credit access. Instead, banks and financial services companies should start thinking about new ways to evaluate the situational factors that influence borrowers’ reliability.

Capital One Financial is in exclusive talks with General Electric to buy the company's health-care finance unit, people familiar with the matter said.

Lending Club and Funding Circle are among the firms pledging to adhere to a range of self-imposed standards in small-business lending.

BB&T will dismiss most of a 21-person small business lending group who had been employed by Susquehanna Bancshares.

The next financial crisis will probably originate from online lenders, hedge funds or other unregulated entities that are taking on some of the greatest credit risks, CIT Group Inc. Chief Executive Officer John Thain said.

In the worst-case scenario, they'll get state licenses and reprice a portion of their loans, but executives of the highflying industry say they doubt such steps will be necessary.