Consumer lending

The hurricanes destroyed hundreds of thousands of cars, and banks are significantly boosting their reserves in anticipation of higher defaults on auto loans. But there is also a silver lining for auto lenders.

Huntington executives are surprised that chargeoffs are still so low and say they're prepared for things to get worse, yet they remain aggressive in auto and other categories. The juxtaposition is a sign of the times for lenders.

As more loans go bad across the credit card industry, the Riverwoods, Ill.-based company boosted its provision for loan losses by 51%.

The McLean, Va., company dialed back its lending in the quarter as credit quality in several business lines weakened.

Growth in net interest income was offset by a decrease in revenue from mortgage banking and capital markets, the Birmingham, Ala., company said Tuesday.

Members want loans quick, fast and easy. Northrop Grumman Federal Credit Union has found a way to make that happen

The 25 new CUs represent approximately 300,000 additional credit union members who will have access to the car-buying platform's services.

SunTrust’s yields have improved as it has increased its credit-card and student lending and made more online personal loans through its LightStream subsidiary.

While some tackle the problem by offering their own consolidation loans, Sallie Mae is developing products with extended terms that reduce borrowers' monthly payments in an effort to discourage borrowers from refinancing in the first place.

Total loans fell 1.6% at the North Carolina-based regional bank, which has been scaling back in key segments such as residential mortgages and auto. Wider margins offset that reduction, but earnings were flat and revenue growth small.

"I’m not going to step aside because I’m an asset for this company," Tim Sloan said Wednesday, rejecting arguments by some Senate Democrats that he is too tied to the phony-accounts scandal.

Navient has suspended stock buybacks to buy and expand a debt-refinancing firm that faces stiff competition from fintechs, and some shareholders aren’t happy.

The nonbinding guidance, which followed a nearly yearlong inquiry about industry practices, said consumers should have greater ability to obtain information about their financial data, among other principles.

The Minneapolis company is considering re-entering a business it exited under pressure from its regulator in 2014.

Martin Chavez reminded analysts Tuesday that while the Wall Street firm may be new consumer lending, the executives leading the unit are all veterans of the sector.

Third-quarter profits at the Georgia bank rose 52% thanks to doubled-digit growth in consumer lending and the sale of credit card assets it had obtained from the retailer Cabela's.

Readers weigh in on how women can advance in business, the regulatory playing field for banks and nonbanks, the CFPB's payday loan rule, ATM withdrawals made through mobile wallets, and more.

CU Journal's annual awards recognize new innovations that have demonstrated concrete results, giving readers a host of great ideas to use.

Regions Financial's chief credit officer is leading a transformation in the way the company manages risk in its loan portfolio.

Rising losses and chargeoffs at JPMorgan Chase and Citigroup could be an indication of future trouble at other banks. Still, executives are bullish on cards and argue that the loss rates are logical consequences of rate hikes and attempts to expand card business.