Consumer lending

Splash recently raised $44 million from investors. It plans to use the funds to aid small institutions that lack the resources to build their own loan platforms but are flush with deposits and looking for new lending opportunities.

The new calculation of borrowers’ monthly obligations will allow for a higher debt load from tuition, potentially opening eligibility to more Black applicants, according to public officials.

Building a safer ecosystem: Why transparency, controls, and partnerships will drive next era of financial services.

In a reversal of a Trump-era decision, the Consumer Financial Protection Bureau says it has the legal authority to test lenders for potential violations of a law protecting military borrowers.

Inventory shortfalls continue to constrain commercial lending, while the savings glut is holding back consumer borrowing, industry executives say. The good news: At some banks, pipelines are at or above pre-pandemic levels.

KMD Partners, which makes high-interest rate loans through its CreditNinja brand, has agreed to acquire the $11.7 million-asset Liberty Bank. The purchase is likely to draw scrutiny, but the companies argue that it will help borrowers with lower credit scores qualify for less expensive loans.

Car sales are booming, but credit unions are financing fewer purchases of new vehicles as borrowers migrate to digital channels.

Klarna Bank AB is raising fresh funds led by SoftBank Group that value the Swedish fintech startup at $45.6 billion, just months after two separate investment rounds sent the company’s valuation soaring.

Thousands of Americans volunteered to check the accuracy of their credit reports and many discovered mistakes, according to new research from Consumer Reports. The results provide fresh ammunition to critics of the major credit bureaus, Equifax, Experian and TransUnion.

The deal for the Salt Lake City-based home improvement lender, which Home Depot tried to acquire more than a decade ago, is part of a larger effort by Regions Financial to diversify its home lending business.

Math-based machine learning tools hold substantial promise in advancing the fairness of consumer lending and developing benchmarks for the entire industry.

China is allowing Jack Ma’s Ant Group Co. to start operations at its consumer finance company, the first sign of progress after a regulatory crackdown torpedoed the fintech giant’s record listing.

Ahead of its U.S. launch, the London-based payments card aggregator has raised $14 million from 12,000 individual investors that it hopes to convert to customers.

The former Fed vice chairman is the fourth new appointee to Klarna’s board since December. The Swedish buy now/pay later company has been enjoying rapid growth in the United States.

The maker of software that helps banks offer "buy now, pay later" loans at the point of sale says its latest funding round has pushed it into unicorn status.

DMB Financial, a debt-settlement firm near Boston that operates in 24 states, agreed to pay $5.4 million in restitution to consumers for allegedly charging upfront fees before providing any service, the CFPB said.

The legislation, which the chamber passed Thursday, would ban collectors from making threatening statements to military service members and prevent credit bureaus from including debt arising from certain medical procedures.

Cardholders can now opt for installment loans at the point of sale on Amex's travel platform.

The reduction in debt during the first quarter was the second largest on record, according to a new report by the New York Fed. Government stimulus payments and continuing limitations on travel and entertainment spending are key factors.

Collectors are mulling a procedural overhaul after a three-judge panel said the practice of using vendors to inform consumers about outstanding debts is illegal. The case may also complicate the CFPB's upcoming rule on electronic messaging.