Consumer lending

The marketplace lender's application for an industrial bank charter is under fire from small banks and progressives, who say it could violate the barrier between banking and commerce and shut out middle-class and lower-income consumers.

Declines in commercial products and mortgage banking fees at the Minneapolis company offset some of the benefits of higher interest rates.

The firm’s latest financial outlook suggests an opportunity to earn profits comparable to those recorded by large, well-established credit card issuers.

The Georgia company made more loans and controlled costs. As a result, it had a 1% return on assets and an efficiency ratio below 60%.

On the first big day of 2Q results, bankers said their investments in middle-market lending have started paying off. JPMorgan Chase and PNC have added commercial loan officers in new markets across the country.

Wells Fargo's new car loans dropped by almost half in the second quarter, while its automotive portfolio fell to the lowest level in two years after the San Francisco-based company tightened underwriting standards.

Working with Sungage Financial will help NBT Bancorp diversify its consumer loan portfolio and learn from a fintech startup with a speedy credit approval process.

Property Assessed Clean Energy loans can no longer be offered in unincorporated areas of Kern County, Calif. The controversial loans, meant to promote energy efficiency, began in California and are now offered in a number of states.

Data showing that California residents 62 and older took out more payday loans than any other age group in the state points to an erosion of retirement security for seniors.

As the CFPB prods banks to improve their debt collection processes, tech firms are applying artificial intelligence, chatbots and self-service portals to create a more enlightened approach.