Consumer lending

Federal and state policymakers wagged their fingers this week at high-cost lenders that might be looking to team with banks to evade a 36% ceiling on interest rates.

Instead of imposing interest rate caps, policymakers should require online lenders to provide clear disclosures and promote partnerships with banks.

Given their price, higher interest rates and appeal to a specific consumer segment, recreational vehicle loans could be a significant growth segment for some credit unions.

The Bank is poised to pick two people to handle Simon Potter’s former job; Securities backed by subprime U.S. car loans are “going gangbusters.”

Lenders contend the proposal goes beyond policing third-party debt collectors and could expose banks to enforcement actions and lawsuits.

Democracy Forward filed the lawsuit Monday against the consumer bureau, Director Kathy Kraninger, the U.S. Department of Education and Education Secretary Betsy DeVos.

Nearly one in four bankers said that the tech giants pose the biggest competitive threat in the long term. But are those fears warranted?

In an update of its rulemaking agenda, the bureau said it "expects to take final action in April 2020" on a proposal that would rescind strong underwriting requirements.

The online lender said it applied insights from its partnership with Fifth Third Bancorp in developing a new digital platform it’s marketing to other large financial services companies.

Several proposals in Congress requiring clear disclosures on student loans could help lower defaults.

Five years into Victor Dodig's time as chief executive officer of CIBC, the performance gap between Canada's fifth-largest bank and its peers is as wide as ever.

Delinquencies also remained at "historical low levels" through Sept. 30, according to the state's financial regulator.

Over the last decade, American voters have proved remarkably receptive to bans on high-cost consumer loans. Next year, a proposed ballot measure in a traditionally red state trending purple will offer a test case for the durability of that consensus.

The junior member of the National Credit Union Administration board has proposed additional oversight for larger credit unions, citing a “guiding principle” of “uniformity between the regulators.” That could pit him against much of the rest of the industry.

Bank of the West intends to stop making indirect auto loans and will instead focus on financing purchases of boats and recreational vehicles. It’s just the latest example of a regional bank pouring more resources into the powersports sector.

It’s the company’s responsibility to come forward with the information about how an algorithm that could be discriminating against women borrowers was designed and the exact impact of it, she said.

The tech giant’s plan to offer checking raises concerns about how it will use customer data; third quarter loan originations were the second most on record.

Consumer behavior is more dynamic than ever with changing preferences, healthy credit demand and greater access. Nidhi Verma, Vice President, Consulting for TransUnion is our special guest. Hosted by Penny Crosman, Editor at Large, American Banker.A Consumer Credit Podcast