Consumer lending

The deal with private equity firm KKR follows an earlier announced sale of $1.3 billion in medical office loans. The Columbus, Georgia-based company has said it's "proactively optimizing the balance sheet" to position itself for long-term growth.

Much of the industry is slimming down, with some banks calling it quits on riskier sectors and selling loans they no longer want. The trend is particularly prominent at regional banks that are preparing to comply with new capital rules.

The decision to allow lenders to review only two credit reports for mortgage applicants will harm homebuyers with less than perfect credit.

The San Francisco company's student loan business suffered from the moratorium on federal borrowers' loans. But executives see a rebound ahead despite high interest rates dampening appetite for refinancing.

The U.S. government wants to intervene in JPMorgan Chase's fraud lawsuit against Frank founder Charlie Javice, asking a federal judge to halt pretrial information exchanges until she has been tried on criminal charges. 

The challenger bank and fintech lender will use its first acquisition to expand its point-of-sale financing strategy into another vertical.

Credit metrics are deteriorating as more cardholders fall behind on their payments. But bank CEOs detect few causes for alarm, saying they plan to stay in growth mode since most consumers have stayed current.

Valarie Ivester, assistant vice president of indirect strategy and development for Greater Texas Credit Union, has helped update strategy from the start of the pandemic through the recent chip shortage.

Executives of the regional bank say they are zeroing in on its most profitable business lines and moving away from one-off customer relationships that don't generate as much revenue.

The Cincinnati bank said that it plans to reduce originations in the segment by 15%. It is leaning into businesses that provide an opportunity to build deeper customer relationships.