Consumer lending

The payments giant has made a lot of money issuing loans to online shoppers with blemished credit histories. But now it is looking to reduce its risks.

The subprime auto lender funded loans through a group of car dealers that it knew had track records of high default rates and fraud, authorities in Massachusetts and Delaware said.

Wells Fargo engaged in an "extensive and pervasive pattern" of discriminatory and illegal lending practices for years, the OCC said in slashing a key rating of how the bank serves communities.

Creative growth strategies are helping banks with $10B to $50B of assets — including Webster and TCF — improve profitability. These ‘tweeners’ deal with tougher regulations than smaller competitors without the scale larger ones have to absorb the expense.

The Ollo card has the backing of former Citi CEO Vikram Pandit and several other big names in finance.

By bending over backward when borrowers trade in an older car for a new one, lenders are said to have embarked down an unsustainable path. The warning, by Moody’s, adds to concerns about credit quality in auto lending.

By bending over backward when borrowers trade in an older car for a new one, lenders are said to have embarked down an unsustainable path. The warning, by Moody’s, adds to concerns about credit quality in auto lending.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

The regulator said that Santander has not made sufficient progress in complying with a 2015 enforcement order.

While there are inherent differences between student loan and mortgage servicing, recent claims against the largest student loan servicer echo the mortgage debacle.

In a further illustration of weakness in the auto sector, Ally Financial said Tuesday that its 2017 profits will likely be dinged by rising delinquencies on subprime auto loans, as well as by falling used-car prices.

Experian and Finicity have released a product that aims to speed up decisions on mortgage applications, using financial data aggregation technology.

In a Q&A, CommonBond CEO David Klein discusses how an OCC charter might benefit customers by lowering the cost to run a student loan refinancing business.

Bankers and housing advocates say many low-income housing projects simply won't get built if the White House and Congress move to eliminate two federal block grant programs.

The Justice Department sought information from BMW AG's leasing business last year about how it handles overdue payments from U.S. military personnel, according to documents obtained by Bloomberg.

On Dec. 31, 2017. Dollars in thousands.

Host Brett King reports from this week's LendIt conference in New York.

Republicans repeatedly claim that the Dodd-Frank Act has hurt consumers by raising costs and hampering credit availability. But the data doesn't back that up.

The number of auto loans classified as delinquent rose sharply in the fourth quarter, raising further questions about whether the segment is getting overheated.

The number of auto loans classified as delinquent rose sharply in the fourth quarter, raising further questions about whether the segment is getting overheated.