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Ally Financial's recently announced $2.65 billion cash-and-stock deal for CardWorks, which offers unsecured credit cards among other products, places a high price tag on a traditionally risky product.
February 21
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Some institutions say the combination of chatbots and social media could entice new borrowers, but burdensome legacy systems may limit their effectiveness.
February 20
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Investors are reacting skeptically to the auto lender's deal to acquire CardWorks for $2.65 billion.
February 19
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The move comes as the fintech tries to shake off criticism that its main products are payday loans by another name.
February 19
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CardWorks also specializes in subprime credit cards and loans for recreational and marine vehicles.
February 18 -
The deal for Boston-based Radius would be the first in history in which an online lender buys a mainstream bank.
February 18
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Black-owned OneUnited is getting grief for its depiction of the abolitionist on a debit card; the bank plans $4.5 billion in cost cuts, with 35,000 jobs cut.
February 18
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Elizabeth Warren, Sherrod Brown and three other Democrats asked nonbank lenders to ensure they comply with fair-lending laws following a report suggesting they charge higher rates to those who have attended historically black or predominantly Hispanic colleges.
February 13
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Proposed reforms to the Community Reinvestment Act focus on everything but bank products that promote higher education. It’s time to change that.
February 12
Community Bank Consulting Services -
Bank will have more business lines, all reporting to the CEO; a research paper says the accounting rule could result in eased capital rules.
February 12
