Consumer lending

After drawing industry opposition, legislation that would have added broad new borrower protections during the pandemic failed to advance out of the state Assembly.

Loan forbearances are wreaking havoc with firms that normally clean up during recessions; the Fed’s latest rescue plan is off to a rocky start as few banks show interest in making the loans.

Other challenger banks focused on personal loans have struggled since the onset of the coronavirus pandemic.

The coronavirus’ economic fallout has drawn more attention to buy-now-pay-later options, leading to fresh creativity in business models and marketing.

Shelter-in-place orders have given homeowners the time to pursue upgrades and repairs, and banks are seizing the opportunity to help finance the projects.

First-quarter income for credit unions chartered in the Badger State increased by about 6% from the same period one year earlier.

A budget item establishing a new agency to protect consumers from predatory lenders has been put on hold as state officials deal with the coronavirus response and other priorities. But it could be revived in legislative talks later this summer.

In the wake of the pandemic, Americans are taking on more debt to cover expenses. That could signal an opportunity for growth in some unsecured lending products.

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

In wealth management and consumer lending, banks are starting to win back clients they had been losing to startups.

Small businesses that took out the loans will soon be applying for forgiveness; U.S. Secretary of State Pompeo and one of HSBC's large investors criticized the bank for buckling to Chinese pressure.

Leaders of companies including Citizens, Comerica and Truist offered more upbeat assessments of loan demand and credit quality than they have in recent weeks. But others warned of weakness in key sectors such as energy and real estate, and said forbearance policies may be hiding potential pitfalls.

Industry figures have begun to speak out in support of demonstrations in the wake of the deaths of George Floyd and other African Americans, and new data is expected to show how the coronavirus impacted balance sheets.

The bank’s Asia-Pacific chief backs law giving greater mainland control over the territory; the Center for Responsible Lending said big banks took in almost $12 billion in overdraft fees last year, with the bulk of it paid by lower-income customers.

The demonstrations following George Floyd's death in police custody are forcing the industry to grapple with how it can — or if it should —advocate for equality and better race relations.

New York State regulators may bring an enforcement action against the German bank as early as this month; Wells Fargo’s decision to stop making loans to the dealers has more to do with credit quality than asset limits.

The consumer bureau said Approved Cash Advance improperly collected amounts that were five times higher the legitimate fee schedule disclosed to borrowers.

An interagency notice meant to encourage lenders to offer small consumer loans also provides federal agencies too much say on what constitutes “reasonable” pricing.

Loan volumes were already slowing before the pandemic. New restrictions and changes in consumer behavior are likely to make growth in this portfolio even harder.