Consumer lending

Deferrals on residential mortgages and home-equity loans have been a common theme at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup since the start of the coronavirus pandemic.

An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates.

Consumers are reluctant to take on additional debt in the wake of the coronavirus, cutting into credit unions' revenue streams. That could spur more institutions to roll out rewards programs to promote debit card usage.

KeyBank, Regions and others are using self-service portals, robotic processing automation and virtual assistants to digitize the collections process and make it more humane in anticipation of rising delinquencies.

James Gutierrez will remain on the board of directors and is trying to arrange financing to help keep the struggling company afloat.

Citigroup plans to let credit card customers finance big purchases on Amazon.com over longer periods of time — a deal that may spur sales at the e-commerce giant while boosting the bank’s interest-bearing balances.

Bankers are left wanting after details on PPP forgiveness plan emerge; why OnDeck is being sold on the cheap; Fannie, Freddie to face banklike liquidity standards starting Sept. 1; and more from this week’s most-read stories.

Regulators are urging banks to offer small-dollar loans again and lifting existing restrictions on nonbank lenders. But the real challenge is making those loans favorable to consumers without losing money.

Members of the Senate Banking Committee took the agency’s leader to task for eliminating underwriting requirements for small-dollar lenders, which lawmakers said has left consumers more vulnerable during the pandemic.

The company's latest Credit Union Trends Report attributed the increase to rises in deposits and capital, along with a decline in borrowing.