Consumer lending

Workers living paycheck to paycheck are borrowing from companies like PayActiv, DailyPay and Branch to survive the economic impact of the pandemic.

Ball State FCU has announced plans to merge into Financial Center First CU following losses tied to high charge-offs, particularly in the used car area.

Mark Calabria said Fannie Mae and Freddie Mac are currently equipped to handle elevated delinquencies, but they might need congressional or Federal Reserve help if fallout from the coronavirus persists.

Over the past year, buy now, pay later schemes have risen to become the trendiest method of retail payments in the U.K.

The pandemic has upended staffing plans, sparked concerns about servicers’ capacity to handle the expected crush of missed payments, and even raised questions about their ability to stay afloat.

Sens. Sherrod Brown and Elizabeth Warren criticized Director Kathy Kraninger for not issuing any public enforcement actions against auto lenders during her tenure.

The Australian firm agreed to pay around $1 million in connection with allegations that it broke the law by operating without a license in the nation's largest state.

Bankers say they understand the need for an extraordinary government response to the coronavirus outbreak, but worry that even slashing interest rates won’t stimulate demand.

Banks typically don't offer loans to cash-strapped consumers, and are poorly positioned to start doing so on an emergency basis — unless the government steps in to help.

Facebook and other social media platforms are a powerful way to connect members and loan officers, but lenders must ensure they first have a culture of compliance.

No-interest loans and overdraft forgiveness are among the lifelines banks are offering to consumers and small businesses whose livelihoods are being upended by the economic fallout.

Habis, who joins the bank from MUFG Union Bank, will replace Michael Cleary, who left Santander last fall and recently joined Wells Fargo.

The move come a day after the Bank of England cut rates and introduced a series of emergency measures, including capital requirements and a lending program for smaller companies.

Firms such as Afterpay that offer financing to shoppers have been enjoying rapid growth. But their model is under scrutiny from regulators, being mimicked by credit card lenders and faces heightened risks in a downturn.

Banks may be protected from a direct hit, but they have invested in vehicles that include such loans, potentially exposing them to defaults.

Kathy Kraninger was grilled about whether her agency and others were doing enough to cushion consumers from the economic blow of the coronavirus crisis.

There may only be so much institutions can do if the outbreak affects borrowers' ability to repay credit.

Concerns about the economic fallout of coronavirus have mostly focused on supply chain disruptions. But fears are growing that weakening consumer demand could spark a recession.

Brendan Coughlin, head of consumer banking, explains how Citizens established its relationships with Apple and Microsoft for point of sale financing and how they've evolved.

The Consumer Financial Protection Bureau will have a busy week starting with Director Kathy Kraninger testifying before lawmakers on Tuesday.