Consumer lending

The latest salvo by the acting director of the Consumer Financial Protection Bureau — proposing in the agency's semiannual report that all CFPB rules be subject to congressional approval — left many observers stumped if not outraged.

The Atlanta company partners with banks and merchants to offer consumer installment loans. It could seek to raise as $1 billion as early as this summer, according to a published report.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney proposed dramatic curbs to his agency's power in a report Monday, including a recommendation that all CFPB rules must be approved by Congress.

A BankThink argues that Treasury's GSE cash infusions are just the return of stolen money; MUFG wants its Union Bank to be one of the nation's 10 largest; fintech promises a 30-minute mortgage; and more.

A majority of midsize and large banks complain that red tape is mounting and that they are passing on higher regulatory costs to customers and have less flexibility in designing products, according to a new survey by the RMA.

The Canadian bank becomes the largest institution to implement the fintech firm’s Bank Operating System technology.

Some investors fear BBVA is taking a big risk by getting into unsecured personal lending long after online lenders have established themselves, but bank officials argue the bank’s cost of funds and in-depth knowledge of its customers will help it to outdo the competition.

Credit unions in Michigan saw significant gains in Q4 2017, as CUs there ended the year with significant boosts to membership and lending.

Even as many venture capitalists retreat from the online lending industry, Upstart Network is hoping to find investors still willing to bet on the business.