Consumer lending

The law would have expanded the state's 12% interest rate cap in a manner that would have effectively banned fintech lending in the state.

The Trump administration wants the Small Business Administration to shrink its workforce by 43%. At the same time, the agency is being asked to start managing the federal government's student loan portfolio.

Five Star Bank's parent company denied wrongdoing but said the agreement spares it the uncertainty and expense that might have resulted from a trial.

The Detroit lender will take a first-quarter hit due to a latest balance sheet restructuring, but said the play should boost profitability in the long term.

Serious delinquencies on auto loans rose to almost 3% in the fourth quarter of 2024, according to the New York Fed. Researchers blame the affordability problem on soaring car prices.

Founder Ken LaRoe says his decision to step back from daily management chores will help the Orlando, Florida-based Climate First Bancorp maintain its independence.

The Consumer Financial Protection Bureau found that auto lenders' use of reposession agents spiked to nearly 70% in 2022, up from 31% in 2018, resulting in higher costs for consumers.

The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."

CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."

The Alabama-based regional bank reported stronger earnings on a bump in capital markets fee revenue and lower expenses, but its total loans declined and its charge-offs increased. It expects only modest loan growth this year.