Consumer lending

Repayments on acquired residential mortgage loans were the main reason, but other bottom-line boosters more than made up for that, the Buffalo, N.Y., bank said in reporting second-quarter results.

Credit unions in the Silver and Golden states saw strong increases in growth and deposits during the first quarter of 2018.

Bank of America’s consumer loans grew a lot. But its rivals? Not so much. The mixed results raise questions about whether BofA’s performance is a leading or trailing indicator, and if credit quality is going to be more of a problem industrywide.

On Mar. 31, 2018. Dollars in thousands.

On Mar. 31, 2018. Dollars in thousands.

The CFPB said National Credit Adjusters had hired third-party collectors that routinely inflated the amounts that customers owed.

Bankers should resist the urge to skirt financial regulations, including know-your-customer and lending standards, to make a sale. The danger of penalties and a possible reputational hit is too great.

The Senate bill, designed to close a loophole in the state's interest rate cap and was closley monitored by the Ohio Credit Union League, must still be reconciled with a similar measure that was passed by the Ohio House of Representatives.

Member Business Lending is a Utah-based provider of commercial, small business lending origination for credit unions.

A law designed to minimize the drawbacks of short-term loans and other alternative financial products may have helped legitimize them.

The Senate bill, designed to close a loophole in the state's interest rate cap, must still be reconciled with a similar measure that was passed by the Ohio House of Representatives.

An index that tracks late payments on consumer loans inched closer to historic norms, according to data from the American Bankers Association.

LendingClub, Prosper, SoFi and other fintechs are driving the expansion, according to new data from TransUnion, and that could spell bad news for credit unions.

Credit unions have seen massive gains in auto lending in recent years, but one analyst fears CUs may be too focused on that and losing share of wallet elsewhere as a result.

Jennifer Jackson will succeed Shane Holdaway as head of the Toronto-based unit, which has 1,200 employees.

Consumer advocates are urging local governments and courts to consider a person’s ability to pay before assessing fines and fees for such infractions as unpaid traffic tickets. Such changes could help low-income households avoid bankruptcy — and perhaps even make them more bankable.

Virginia National will set aside up to $950,000 to cover losses after ReliaMax, a firm that issues surety bonds for student loans, was placed into liquidation.

The final sale price came it at $6.9 billion, or about $900 million more than what the two firms agreed upon when the deal was announced in November.

A decades-old Fed charter could help banks develop new cooperatives to combat economic inequality.

LendingClub, Prosper, SoFi and other fintechs are driving the expansion, according to new data from TransUnion.