Consumer lending

The bank has taken a decisive step to protect its asset quality, but the move also raises questions about what will drive loan growth in the future — and whether the company is on the block.

Bank faces a formal enforcement action for problems in mortgages and auto insurance; Judge throws out lawsuit, although plaintiff promises an appeal.

Richard Cordray took a big gamble in his final act as head of the Consumer Financial Protection Bureau, attempting to appoint his own interim successor. He lost Tuesday, but he was far from the only one.

OMB Director Mick Mulvaney said he would "fix" the CFPB by ensuring it protected consumers without cutting off access to financial services. His comments came as a federal judge declined to rule yet on the legality of Mulvaney's appointment.

Citing the dim financial outlook for a business it entered just six years ago, the Wayzata, Minn., company will stop making auto loans on Dec. 1.

President Trump has tapped Office of Management and Budget Director Mick Mulvaney as interim head of the CFPB. He has taken tough stances on the CFPB, its payday lending rule, housing finance reform and other issues pending before the agency.

Bank ponders assisting customers trading digital currency futures; banks still face challenges despite a good third quarter.

The British banking giant has been testing its new online lending platform with a handful of its U.S. customers and plans to roll it out in full force next year. It's all part of a broader effort to expand its U.S. consumer business beyond credit cards.

The Consumer Financial Protection Bureau on Tuesday ordered Citibank to pay $6.5 million in consumer relief and penalties for student loan servicing failures.

It was mostly good news for banks in the Federal Deposit Insurance Corp.'s Quarterly Banking Profile, with higher earnings and net interest margins. But there were concerns as well, including slower loan and deposit growth.

The Consumer Financial Protection Bureau settled a $1.1 million enforcement action on Monday with Xerox Business Services, alleging that its software misreported borrower information to credit reporting agencies.

Franklin Codel reportedly made “disparaging remarks” about regulators; Zions may seek to have “too big to fail” label removed.

Acting Comptroller of the Currency Keith Noreika has been the ultimate disruptor, bucking the normally low-key profile of interim regulators.

Fed researchers purported to show that consumers who use peer-to-peer loans have bad financial outcomes, but questions quickly emerged about the data they used.

The subprime auto lender late Friday provided the final details of its separation agreement with Thomas Dundon, who stepped down two years ago in a leadership shake-up.

The report’s authors presented findings that seemed to reflect issues with the peer-to-peer lending industry, but they actually relied on data from a much broader category of loans.

The deal for PayPal’s consumer loan portfolio will make Synchrony a bigger player in e-commerce. And the agreement helps the Silicon Valley payments giant achieve its goal of reducing its exposure to the credit cycle.

A new Republican director of the Consumer Financial Protection Bureau is likely to take immediate action to change certain rules, including the "qualified mortgage" and payday rules, while curbing pending enforcement actions that are considered too harsh on financial firms.

Evidence that the credit characteristics of online installment borrowers at the time of repayment are consistently worse than at the time of borrowing should be a sobering thought for lenders that have not been fully tested in a credit downturn.

The Cleveland Fed's conclusion that U.S. consumers are typically worse off after getting online loans encountered strong pushback from industry groups and the company that provided the data.