Consumer lending

Readers weigh in on Democrats' call for more scrutiny of the BB&T-SunTrust merger, changes to the CFPB's payday lending rule, criticism of Square's ILC application and more.

The agency recently proposed gutting the ability-to-pay standard in its small-dollar loan rule, a move that would benefit the payday loan industry and harm consumers.

With U.S. sanctions in place against Venezuela, banks fear compliance violations; exclusion and cyber attacks the biggest concerns of cash-free society.

The deal marks the first time that the retail giant will enable its customers to use fixed-rate loans, rather than credit cards, for big-ticket purchases in its stores and online.

The foray into digital consumer lending follows a similar move by rival Citigroup.

Credit Union Student Choice's decision to open a management center in Texas follows a similar move by Pentagon Federal Credit Union earlier this year.

The company also said at its investor day that the fourth-quarter slowdown in trading activity has continued into the new year.

Consumer lending margins in the United States strengthened at the Canadian bank, which overall saw more growth in business lending than consumer lines in its fiscal first quarter.

Bank makes first hires for its corporate cash management business; the former Fed chair says the industry is too focused on profits.

The bank said in its annual report that anticipated store closings could reduce both new account acquisitions and purchase volume.

The Badger State's institutions also saw earnings and allowance for loan losses increase.

The House Financial Services Committee chair said in an open letter that she wants to empower bureau staff amid reports of low morale.

The agency recently proposed gutting the ability-to-pay standard in its small-dollar loan rule, a move that would benefit the payday loan industry and harm consumers.

The agency’s proposed changes to its standard for small-dollar loans will help ensure underbanked consumers still have access to credit. Concerns about predatory lending are overstated.

Personal loan balances hit an all-time high in 2018, while fintech lenders widened their market share lead over banks and credit unions, according to new data from TransUnion.

Banks earned $59.1 billion in the fourth quarter, a 133% year-over-year increase, due to a one-time charge in the year-earlier quarter and a lower effective tax rate throughout 2018.

Personal loan balances hit an all-time high in 2018, while fintech lenders widened their market share lead over banks and credit unions, according to new data from TransUnion.

The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue.

While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening.

The online consumer lender trimmed its losses in the fourth quarter and says an adjusted, non-GAAP metric suggests it's on the path to getting out of the red later this year.