Credit

In the coming year, bankers in Puerto Rico will need to keep an eye on how steep cuts in government spending will affect the island’s consumers, says José Rafael Fernández, CEO of OFG Bancorp.

Auto, personal and credit card originations have fallen as delinquencies have risen, but researchers called the slowdown a temporary rebalancing by lenders.

Balances 90 days past due are noticeably higher in 2017, new N.Y. Fed data shows. Though the trend has a lot to do with positives like economic expansion and easier access to credit, officials say it deserves careful attention.

The largest banks are approving small-business loan applications at the fastest rate since the recession, a sign that that they are willing to assume more risk and taking seriously the threat of competition from online lenders.

The online consumer lender reported a net loss of $25.4 million, bringing its red ink in the five most recent quarterly reports to more than $200 million.

The online lender said it is on track to hit its goal of becoming profitable by yearend. It also extended a partnership agreement with JPMorgan Chase.

A 10-year low in commercial banks’ chargeoffs bodes well for avoiding another crisis, but what it means for growth is another matter.

The Consumer Financial Protection Bureau ordered JPMorgan Chase to pay a $4.6 million fine for failing to provide accurate information when denying checking account applicants.

FHFA Director Mel Watt said Fannie Mae and Freddie Mac cannot use alternative credit models until other issues are resolved first.

A bipartisan duo of lawmakers is set Tuesday to introduce a bill designed to increase homeownership opportunities for “credit invisible” consumers.