Credit

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.

The app, formerly known as BillGuard and a favorite of many fintech insiders, helped users protect their identities and monitor their credit scores.

The Riverwoods, Ill., company is trying to assure Wall Street that its higher chargeoff rates signal a return to normalcy, rather than a cause for alarm.

CircleUp is offering lines of credit to early-stage consumer brands, which can often only get financing at high interest rates.

TCF executives were peppered with questions about the quality of $345 million in auto loans recategorized as held for investment in the second quarter, as a result of the company’s recent move away from loan sales and securitizations.

A reserve release helped offset lower net interest income, reflecting the California company's efforts to exit businesses that hurt its bottom line last year.

Readers question acting comptroller Noreika, weigh in on SoFi’s charter application, defend Trump’s exit from the Paris Accord, and more.

Though a 33% decline in net income was attributable to large one-time gains that the credit card issuer recorded in the second quarter of 2016, Amex faces major challenges in the pursuit of growth opportunities.

Without climate change mitigation, financial institutions should expect higher weather-related losses, greater uncertainty surrounding transition pathways and increased market volatility.

The subprime business lender halted new business and laid off scores of employees after recording higher-than-expected losses.

Timothy Zimmerman, who once called CECL a dangerous proposal, now sees a justification for the FASB standard. And he is urging bankers to start working on plans to comply with the change.

Synchrony Financial and Alliance Data Systems are particularly vulnerable to recent shifts in Americans’ shopping habits, according to new research from Moody’s Investors Service.

Executives at four former credit repair companies agree to pay $2 million for charging consumers millions in illegal advance fees.

Compliance, security and data analytics were the themes at this year’s New York FinTech Innovation Lab demo day.

Next month, credit bureaus will have to drop information about tax liens and civil judgments from credit scores unless they can independently verify the data. Eva Wolkowitz of the Center for Financial Services Innovation and Sarah Davies of VantageScore discuss.