Consumer lending

Thousands of Americans volunteered to check the accuracy of their credit reports and many discovered mistakes, according to new research from Consumer Reports. The results provide fresh ammunition to critics of the major credit bureaus, Equifax, Experian and TransUnion.

The deal for the Salt Lake City-based home improvement lender, which Home Depot tried to acquire more than a decade ago, is part of a larger effort by Regions Financial to diversify its home lending business.

Math-based machine learning tools hold substantial promise in advancing the fairness of consumer lending and developing benchmarks for the entire industry.

China is allowing Jack Ma’s Ant Group Co. to start operations at its consumer finance company, the first sign of progress after a regulatory crackdown torpedoed the fintech giant’s record listing.

Ahead of its U.S. launch, the London-based payments card aggregator has raised $14 million from 12,000 individual investors that it hopes to convert to customers.

The former Fed vice chairman is the fourth new appointee to Klarna’s board since December. The Swedish buy now/pay later company has been enjoying rapid growth in the United States.

The maker of software that helps banks offer "buy now, pay later" loans at the point of sale says its latest funding round has pushed it into unicorn status.

DMB Financial, a debt-settlement firm near Boston that operates in 24 states, agreed to pay $5.4 million in restitution to consumers for allegedly charging upfront fees before providing any service, the CFPB said.

The legislation, which the chamber passed Thursday, would ban collectors from making threatening statements to military service members and prevent credit bureaus from including debt arising from certain medical procedures.

Cardholders can now opt for installment loans at the point of sale on Amex's travel platform.

The reduction in debt during the first quarter was the second largest on record, according to a new report by the New York Fed. Government stimulus payments and continuing limitations on travel and entertainment spending are key factors.

Collectors are mulling a procedural overhaul after a three-judge panel said the practice of using vendors to inform consumers about outstanding debts is illegal. The case may also complicate the CFPB's upcoming rule on electronic messaging.

After more than 100 years of mostly in-person operations, the subprime installment lender is seeking to adapt to changing consumer preferences — launching an online loan platform just before the pandemic and recently striking a deal to acquire a financial wellness app.

On Dec. 31, 2020. Dollars in thousands.

On Dec. 31, 2020. Dollars in thousands.

The country’s largest banks are pulling out all the stops to lure customers to take on new credit cards again, after retreating from such deals during the COVID-19 pandemic.

The nation’s largest mortgage lender plans to use a new partnership with the financial technology company AutoFi to sell more cars to its home loan customers.

The digital-only bank has adopted machine learning to process loans faster, more accurately and with better fraud detection than in the past.

More than a year into the pandemic, with the U.S. economy improving and consumers having paid down debt, bankers are finally loosening the reins in auto lending and credit cards.

Cordray, named this week to lead the Education Department's office of federal student aid, cracked down on banks, student loan servicers and for-profit colleges when he was director of the Consumer Financial Protection Bureau.