Consumer lending

The online lender was not a party to the lawsuit involving the Federal Trade Commission and a payday lender, but it could emerge as one of the big winners from the Supreme Court’s decision.

Some say Equifax, Experian and TransUnion are too slow to investigate grievances, prompting more complaints to the Consumer Financial Protection Bureau. But the big three say other forces are at work.

Looming defaults and the potential for heavier regulatory scrutiny have prompted banks to pull back from the sector. Is that a good thing?

The company’s retail banking and auto-lending businesses in the U.S. generated a larger share of overall profits in the first quarter, and Executive Chairman Ana Botín and other executives unveiled expansion plans for both units.

The company, which recently acquired Radius Bancorp, still expects to lose at least $142 million this year and CEO Scott Sanborn did not provide a timeline for profitability. “We’re building this business for the long term,” he said.

Banks could be a better option than payday lenders to meet consumers’ short-term credit needs. But all the OCC’s regulation does is enable partnerships that circumvent state usury laws.

Consumer advocates say "income share agreements" like those issued by Blue Ridge Bank of Martinsville, Va., and a Boston CDFI should have to comply with laws that govern more traditional credit products.

The agency's new policy requires collectors seeking to evict tenants to provide written notice of their rights under a federal moratorium.

Surging used-car prices — brought on by a combination of strong consumer demand and limited new-vehicle supply — are boosting loan yields and profits at the Detroit company.

An interactive dialogue with Founder and CEO of NorthOne on the fintech industry, the growing needs of challenger banks, and the future of SMB banking.

BofA is awash in liquidity, but an uptick in credit card applications and heightened interest from commercial borrowers have executives hopeful that loan demand will soon rebound.

Fees from investment banking and larger-than-expected reserve releases more than offset a sharp drop in loan volume.

U.S. consumer borrowing surged in February by the most since late 2017 as a broader reopening of the economy from pandemic restrictions helped spark an increase in credit card balances.

The consumer bureau is proposing to give companies until January 2022 to comply with one rule regarding communications from collectors and another clarifying disclosure requirements.

Without the application of tested safeguards, using such data can run the risk of worsening the very problems of credit access that we seek to solve.

Known for giving away its signature canary-hued Converse to employees and clients, this small API-centric fintech is poised to become a significant player in open banking thanks to parent company Mastercard and its vendor status with Fannie Mae and Freddie Mac.

The banking and credit union industries opposed the Illinois Community Reinvestment Act, but they were largely shut out of a process that moved quickly amid a nationwide reckoning on racial inequality.

A recent statement by acting Director Dave Uejio is the clearest signal that the agency plans to revive strong underwriting standards that the Trump administration eliminated.

There are ways to remove bad actors from the industry — such as reinstating the Consumer Financial Protection Bureau’s payday lending rule and banning certain fees and collection practices — without hindering consumers’ access to emergency credit.

Two banking bills signed by Gov. J.B. Pritzker carry implications for payday lenders, auto title lenders, credit unions and nonbank mortgage lenders. Pritzker, a Democrat, said the bills will address racial-equity gaps in the state.