Consumer lending

Forecasts about the pandemic's impact on the mortgage market have grown less dire after forbearance requests by homeowners nearly leveled off in the first half of May.

The new legislation directs the Treasury Department to protect electronic payments that Americans receive through the pandemic rescue package.

Credit unions need a clear strategy if they hope to break through to consumers already overwhelmed by the coronavirus.

The industry is well positioned to gain market share, but institutions may not see the same levels of growth as after the last recession.

The new legislation directs the Treasury Department to protect electronic payments that Americans receive through the pandemic rescue package.

The templates are meant to make it easier to obtain agency approval for small-dollar loan products and to accommodate mortgage servicers that want to provide online loss mitigation options.

The drop is likely from both a decline in consumer demand and lenders becoming more cautious, according to CompareCards.

The HEROES Act aims to clarify whether economic stimulus checks from the government can be used for debt collection, but it's unclear if that language will survive the legislative process.

A Democratic measure to freeze foreclosures and auto repossessions through the coronavirus crisis while expanding eligibility for loan forbearance is getting strong pushback from banks and credit unions, which complain it would constrain credit.

The FHFA says the two government-sponsored enterprises need at least $240 billion of capital before they can go private; Transunion says more than 3% of consumer loans it tracks are in financial hardship.