Consumer lending

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.

The lawsuit against Navient Corp. demonstrates that despite the recent appointment of more industry-friendly regulators in Washington, financial services companies still face significant legal threats from state capitals.

The world of short-term lending was shaken up Thursday as one regulator issued a rule cracking down on payday loans while another made it easier for banks to offer an alternative product.

While disappointed with the CFPB's actions in recent years, bankers said they want to see a campaign platform before making a decision on the agency's director.

At 1.56%, the delinquency rate on consumer loans remains well below historic averages, the American Bankers Association said Thursday.

The identity theft threat created by the Equifax hack and the growth of online lending have given software makers a platform to pitch products that rely on selfies, scans of driver’s licenses and other nontraditional ID methods.

In light of the recent disbursement of nearly $40 million in grants to credit unions from The Treasury Department’s Community Development Financial Institutions Fund, Credit Union Journal surveyed some credit unions which have received CDFI grants in the past to find out how these funds are being used.

In a new book, Mehrsa Baradaran argues that the same forces of poverty that African-American banks were supposed to alleviate are now holding them back.

Chemical Financial and Fidelity Southern are the latest banks to curtail auto lending, blaming trends in auto sales and overheated competition.

Under Diane Morais, Ally Bank is growing deposits at a rate four times faster than the industry average.

Sandy Pierce's myriad responsibilities include managing Huntington’s 18 regional bank presidents, overseeing its private bank and leading all activities in Michigan.

Thasunda Duckett led Chase Auto Finance to record loan growth in her three-plus years as the unit’s CEO. Now she is looking to take JPMorgan Chase's consumer bank to similarly lofty heights.

Under Beth Johnson's leadership, Citizens has been building a database that is designed to reveal which customers are best suited for specific products.

The San Francisco bank has pulled in 10,000 new households with loan products geared toward young professionals.

LendingPoint, which caters to borrowers with damaged credit records, believes that traditional credit scores are overly pessimistic about the likelihood that certain borrowers will repay.

The Oregon bank has expanded the role of its chief credit officer to include oversight of risk management.

The Equifax breach has millions of Americans now thinking about freezing their credit to guard against identity theft. But those who act could be cutting themselves off from the nation's vast credit economy.

The CFPB has ordered National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, to pay at least $21.6 million.