Consumer lending

The Supreme Court's decision to strike down billions in debt forgiveness could make it harder for millions of Americans to pay back other kinds of debt. It also threatens to further curtail lending in an already sluggish credit market.

Sen. Elizabeth Warren, D-Mass., in a letter to the Consumer Financial Protection Bureau, challenged the idea that credit card late fees serve as a deterrent to delinquency, instead saying issuers told her office that some of them earn tens of millions of dollars collecting late fees.

The regional bank is expected to issue around three to five more bonds backed by its $11.5 billion loan book. Citizens earlier this month said it will halt new auto lending in partnership with dealers starting July 1.

The legislation would have allowed nonbank lenders to charge more for consumer installment loans. Gov. Ron DeSantis, a Republican presidential candidate, explained his veto by saying that the bill might result in additional consumer indebtedness.

The category shifted into high gear during the first quarter, but experts predict a severe slowdown based on a growing number of economic concerns.

Rising interest rates on loans, greater borrowing and higher fees on deposit accounts all contributed to the increase. "Altogether, this paints a picture of debt that could really start to strain the checkbooks of American families," said Meghan Greene, a researcher at the nonprofit organization that authored the report.

Zirtue will now let borrowers retrieve funds from MoneyGram locations rather than being limited to a bank account or debit card.

The bank's $4.6 billion commitment is smaller in size and shorter in duration than a previous plan. It also pledged $9 billion to sustainable finance initiatives over the next three years.

The Consumer Financial Protection Bureau issued two reports analyzing banking and consumer credit trends in the South, where many rural areas are considered "banking deserts."

At the Milwaukie, Oregon, institution, total loans increased 16% in the first quarter from a year earlier. But President and CEO Aaron Goff predicted this would level off significantly for his credit union and the industry overall.