Consumer lending

Startups in the payday lending space say their use of artificial intelligence is allowing them to make better loans at lower rates with fewer defaults.

No fees, no automated voice response and lots of direct mail are among the investment bank’s tactics for its consumer fintech venture.

The Kennesaw, Ga.-based firm, which makes online installment loans to borrowers with blemished credit records, currently operates in 14 states.

Bankers oppose legislation that would let local governments finance energy efficiency projects with liens ahead of the mortgage.

Quona Capital Management raised $141 million for the Accion Frontier Inclusion Fund, which will invest in companies that provide financial and other services to underserved customers in emerging markets.

Simultaneous spikes in home prices and mortgage rates have put an unusual squeeze on borrowers' purchasing power and require lenders to be proactive about protecting their loan pipelines.

The San Carlos, Calif., firm is following a similar blueprint as other online lenders — launching with a particular loan product, refining its algorithms, and then seeking to expand into other corners of consumer finance.

Banks are seeing mostly positive or neutral trends in loan demand and broader economic indicators in the first six weeks of 2017 and are upbeat about future prospects, according to the Fed's Beige Book.

Longer loan terms may be compounding losses when cars are repossessed, a portfolio manager says.

The bank says it will push the rest of the industry to follow its lead and step up lobbying for policies that increase minority homeownership.

Prosper Marketplace will receive as much as $5 billion in loan funding under a deal that will provide investors an equity stake in the San Francisco company

The Dallas-based lender is planning to boost originations to borrowers with solid credit scores amid fears that the subprime auto market is overheating.

Using big data can help credit unions better understand which delinquent members have the assets to repay accounts in collections, saving CUs time and effort, and increasing the likelihood of repayment.

After several strong years for credit union lending, new research shows consumer confidence dipping, with the overwhelming majority of consumers saying they don’t plan on borrowing anytime soon.

On Sept. 30, 2016. Dollars in thousands

The Federal Trade Commission is looking at whether auto finance companies that use sophisticated technology like ignition kill switches are illegally harassing subprime borrowers that have fallen behind on their payments.

U.S. District Judge Gladys Kessler is set to rule next week on whether to halt the Justice Department's quest to force banks to cut ties to industries it considers to be at high risk for criminal activity.

Focusing on the rise of auto financing delinquencies ignores the bigger picture: Loan volume has grown on all risk tiers and defaults are a natural part of the process.

The San Francisco online lender reported a $32 million loss in the fourth quarter, which brought red ink for the full year to $146 million.

More and more banks are using advanced geographic information systems to help make decisions around branch consolidation, lending in low-income communities, monitoring fraud and even deploying talent.