Consumer lending

LendingClub, Prosper, SoFi and other fintechs are driving the expansion, according to new data from TransUnion, and that could spell bad news for credit unions.

Credit unions have seen massive gains in auto lending in recent years, but one analyst fears CUs may be too focused on that and losing share of wallet elsewhere as a result.

Jennifer Jackson will succeed Shane Holdaway as head of the Toronto-based unit, which has 1,200 employees.

Consumer advocates are urging local governments and courts to consider a person’s ability to pay before assessing fines and fees for such infractions as unpaid traffic tickets. Such changes could help low-income households avoid bankruptcy — and perhaps even make them more bankable.

Virginia National will set aside up to $950,000 to cover losses after ReliaMax, a firm that issues surety bonds for student loans, was placed into liquidation.

The final sale price came it at $6.9 billion, or about $900 million more than what the two firms agreed upon when the deal was announced in November.

A decades-old Fed charter could help banks develop new cooperatives to combat economic inequality.

LendingClub, Prosper, SoFi and other fintechs are driving the expansion, according to new data from TransUnion.

FutureFuel.io CEO Laurel Taylor and Edmit.me CEO Nick Ducoff discuss approaches to helping students repay their loans and make good debt decisions.

The Office of the Comptroller of the Currency’s bulletin is seen as just one piece of the regulatory puzzle to coax banks into installment lending.

Joel Tucker is the brother of Scott Tucker, who in January was sentenced to 16 years in prison for perpetrating an unrelated payday-loan scheme.

The Office of the Comptroller of the Currency’s bulletin is seen as just one piece of the regulatory puzzle to coax banks into installment lending.

The bank can pay out 40% more than it is expected to earn; the German bank’s stock slide may lead to its removal from a major European bank index.

Nelnet’s planned bank would be an online enterprise focused on gathering deposits and making private student loans.

The comptroller of the currency has tiptoed around the issue of discrimination even though he wants to overhaul a key fair-lending law.

Deutsche Bank failed and Goldman Sachs and Morgan Stanley restrained; antitrust lawsuit brought by retailers may be near a resolution.

Two Native American tribes agreed to forfeit $3 million in money they took in for acting as fronts for a scam run by Scott Tucker, the former race-car driver convicted of operating an illegal payday loan business.

New legislation to offer banking services at post offices comes with some flawed assumptions, but payday lending needs an overhaul.

The trend may be partly attributable to a strong economy. Growth in high-cost installment lending could also be a factor.

Jan Lynn Owen works at the epicenter of the digital revolution, but she is unambiguously cautious about the fintech industry.