Consumer lending

The e-commerce giant will partner with Affirm to offer installment payments as point-of-sale credit becomes increasingly popular as a finance option.

The move is part of CEO Jes Staley’s broader strategy to beef up the British bank’s U.S. consumer business and strengthen relationships with retailers who may eventually need investment banking services.

Subprime borrowers whose credit scores have risen since they bought their cars are increasingly looking for a better deal. Credit unions and small banks are seizing the opportunity, often with the help of fintechs.

The price for the 20% stake in Santander Consumer USA Holdings that Santander does not already own is significantly higher than what the buyer first offered in July.

Customers have been particularly frustrated with midsize issuers for failing to adjust their rewards programs to reflect changing behavior and generally being less responsive than large issuers, according to a new report from J.D. Power.

The bank's earlier decision to stop accepting applications for the consumer loan product had sparked a backlash among customers and lawmakers.

Holders of the card, issued by Synchrony Financial, receive 3% cash back on medical visits, veterinarian bills, gym fees and certain other health-related expenses.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

The agreement between the state’s financial regulator and Meratas will subject the company to heightened regulation after years of criticism that income-share agreements have escaped scrutiny.