Consumer lending

The Wisconsin banking company forecasted loan growth of 4% to 6% for the full year, driven by an expansion into new commercial and consumer credit lines as well as enduring economic strength in the Midwest.

The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.

The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.

The agency's new proposal has been a long time coming, and it could reshape how consumers interact with their personal financial data.

A solid majority of decision-makers at these companies expect to expand their workforces again this year, a Citizens Financial survey found. Loan losses are normally low in eras of economic expansion.

The proposed data sharing rules could create opportunities for forward-thinking financial institutions to better serve their customers and meet ever-growing expectations for digital finance.

There are lingering questions related to the agency's 1033 proposal, including how to balance access to information with fraud prevention. But financial institutions should look for ways that access to additional data could help them create better products.

A lawsuit filed by the American Fintech Council and two other trade groups has implications for other states that also want to keep out high-cost consumer lenders.

Lower commodity prices and decreases in government assistance are expected to push farm income lower this year and raise credit risk for banks.

A key bank stock index ticked up after the Federal Reserve hinted that it could lower rates later this year. But there are still a number of economic uncertainties that are holding shareholders back.

Goldman Sachs is unloading the home improvement lending platform GreenSky after a misadventure in consumer finance. However, the consortium buying GreenSky plans to invest heavily in its growth, and Synovus says it's eager to deepen its partnership with the online lender.

Through its integration with the auto manufacturer, Origence and its indirect lending subsidiary FI Connect aim to match buyers in need of auto loans to eligible credit unions.

Data as of Dec. 31, 2023. Dollars in thousands.

Banks and trade groups denounced the Consumer Financial Protection Bureau's final rule to cut credit card late fees to $8, saying they will do everything possible to kill the rule.

In implementing Section 1033, the Consumer Financial Protection Bureau is leaving out auto loans, one of the largest sources of consumer debt.

Auto-enrolling its membership for a credit-scoring tool offered by SavvyMoney helped Knoxville TVA Employees Credit Union nearly double approvals across its credit card, personal and auto loan portfolios in early 2023.

The lending fintech is increasing its reliance on third-party funding arrangements as its revenue slides. Analysts are wondering how much risk is embedded in the deals.

Senior loan officers recently told the Federal Reserve that loan demand weakened and underwriting tightened last quarter, but both at a slower pace than three months earlier. They anticipate demand for credit will improve, especially in the back half of the year — provided rates begin to fall.

American Honda Finance Corp., the financing division of carmaker Honda, says that the Consumer Financial Protection Bureau sent it a "civil investigative demand" connected to the "furnishing of credit reporting information on consumer accounts."