Consumer lending

The payday lending industry is planning to use the same playbook employed by the financial services industry in its fight against the CFPB's arbitration rule.

Nearly half of black Americans who borrowed from the federal government to attend college defaulted on their student loans, according to new data from the U.S. Department of Education.

The tech giant won praise from consumer groups for its decision to ban ads for high-cost consumer loans. But the policy contains a big loophole, and advertisers have found multiple ways to exploit it.

Automated payments, IVR and emerging innovation are necessary to jolt payment performance, writes David Yohe, vice president of marketing at BillingTree.

On Jun. 30, 2017. Dollars in thousands.

On Jun. 30, 2017. Dollars in thousands.

The sale of the struggling Financial Freedom unit to an undisclosed buyer would continue CIT's strategy of shedding noncore business lines.

For all the anticipation that preceded the Consumer Financial Protection Bureau's final small-dollar lending rule, a picture of how the rule will affect banks and credit unions is still quite hazy.

A change in the formula that banks use to calculate borrowers’ debt-to-income ratios, announced by Fannie Mae in April, appears to be spurring more lending.

The loan product, which allows consumers retroactively to adjust a payment amount, illustrates how community-based institutions are trying to reach technologically savvy consumers.