Consumer lending

There are lingering questions related to the agency's 1033 proposal, including how to balance access to information with fraud prevention. But financial institutions should look for ways that access to additional data could help them create better products.

A lawsuit filed by the American Fintech Council and two other trade groups has implications for other states that also want to keep out high-cost consumer lenders.

Lower commodity prices and decreases in government assistance are expected to push farm income lower this year and raise credit risk for banks.

A key bank stock index ticked up after the Federal Reserve hinted that it could lower rates later this year. But there are still a number of economic uncertainties that are holding shareholders back.

Goldman Sachs is unloading the home improvement lending platform GreenSky after a misadventure in consumer finance. However, the consortium buying GreenSky plans to invest heavily in its growth, and Synovus says it's eager to deepen its partnership with the online lender.

Through its integration with the auto manufacturer, Origence and its indirect lending subsidiary FI Connect aim to match buyers in need of auto loans to eligible credit unions.

Data as of Dec. 31, 2023. Dollars in thousands.

Banks and trade groups denounced the Consumer Financial Protection Bureau's final rule to cut credit card late fees to $8, saying they will do everything possible to kill the rule.

In implementing Section 1033, the Consumer Financial Protection Bureau is leaving out auto loans, one of the largest sources of consumer debt.

Auto-enrolling its membership for a credit-scoring tool offered by SavvyMoney helped Knoxville TVA Employees Credit Union nearly double approvals across its credit card, personal and auto loan portfolios in early 2023.