Credit

Installment payments are gaining mainstream appeal as an alternative to traditional credit products, prompting Affirm to boost its visibility in an increasingly crowded market.

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.

Banking and credit reporting groups say such an agency could politicize the reporting process. Consumer groups say it would offer consumers a necessary alternative.

The Georgia company warned that outstanding loans could fall and deferrals will likely rise as its home state and Florida grapple with the pandemic.

Loans to retailers and hotels are at the highest risk of default, the Salt Lake City company said in its second-quarter earnings presentation.

Old scoring and algorithms don't consider a rapidly changing economy and risks, according to consultants Maria Arminio and Bo Berg.

The Mississippi company said it decided to take aggressive measures to reduce its exposure to energy firms.

The company said it recorded a large loan-loss provision in the second quarter to reflect Coex Coffee International's pending liquidation.

Net charge-offs fell at Citigroup and Wells Fargo, thanks to forbearance and federal stimulus. Leaders of those banks are warning that delinquencies could rise once the benefits of those programs wear off.

Megabanks like JPMorgan Chase boosted loan-loss provisions to record levels in the second quarter in preparation for what could be a wave of loan defaults.