Consumer lending

The Boston company gained the mortgage platform when it bought First Choice in 2017.

The Birmingham, Ala., bank's profits fell 32% as its loan-loss provision tripled. The expense covered “isolated, one-off issues” in its commercial and consumer loan portfolios, CEO Javier Rodriguez Soler said.

Even as consumer and CRE lending slowed in the first quarter, business lending — particularly to middle-market companies — surged. But some banks are already warning that the growth could taper off as competition from nonbanks heats up.

The debt collection proposal is expected to address how debt collectors can use text messages and emails to track down debtors.

Congress has returned from its two-week vacation with plans to debate a number of issues important to the credit union industry.

The use of digital payments offers significant savings over check cashing. Payroll cards and public-sector prepaid cards issued for the deposit of government benefits are two of the best known examples, writes Andrew Gillen, vice president for Global Public Sector Payment Solutions for Mastercard.

Thirty-day delinquency rates, a harbinger of future write-offs, also increased at all seven of the largest U.S. card issuers in the first quarter.

In a strategy that other CUs could follow, Concord Federal Credit Union is working with a local nonprofit to provide better access to financial products in central Brooklyn.

The company's credit card business has been outpacing industrywide loan growth. In the first quarter, results were also aided by higher loan yields.

The strong growth in commercial lending made up for more modest gains in credit card and auto lending, its two largest business lines.

Earnest hopes offering a streamlined process can help it thrive in a risky niche.

Credit union share of the credit card market is at a record high but there are concerns that this debt could begin to sour if the economy turns.

The Wilmington, Del., company's new product relies on technology developed by Earnest, a startup that it acquired in 2017.

A panel of federal judges determined that Think Finance and an online tribal payday lender must comply with state interest rate and licensing laws.

The Wisconsin Supreme Court upheld a "narrow interpretation" of a state-level consumer-protection law that maintains lenders' rights to collect debts without fear of being sued for damages.

Nearly a dozen shareholders disrupted opening remarks at Wells Fargo’s annual meeting in Dallas on Tuesday, pressing executives to answer for a series of scandals that have rocked the bank.

As the bank's board conducts its search for a new CEO, it should exclude Wall Street titans from any shortlist.

Credit union professionals offered insights into how technology is changing the collections process during the recent National Credit Union Collections Alliance conference in Las Vegas.

The two banks, which plan to complete their merger by early fall, have little geographic overlap, so they can keep lending teams in place and push for immediate loan growth, according to Craig Dahl.

The Minneapolis bank will open about 10 branches in North Carolina's largest city by the end of next year, adding to already intensifying competition among big banks.