Credit

The resurgence of the syndicated loan market signals a pendulum swing back to greater reliance by debt issuers on traditional bank financing.

Monday's market decline has sparked concerns of an economic downturn, calling attention to installment lenders that market to distressed consumers.

Lenders and financial institutions should allow consumers to report nontraditional financial activities in an effort to adopt and validate newer, more inclusive credit scoring models.

The Cleveland-based regional bank continues to benefit from strength in investment banking, though concerns about stalled loan growth emerged as CEO Chris Gorman described demand as tepid.

The Consumer Financial Protection Bureau's proposal to eliminate medical debts from credit reports is under attack from debt collectors, which claim the rule will drive up litigation costs and drive doctors out of business.

The focus should be on the millions of Americans whose credit reports contain serious errors, and who are increasingly desperate for relief.

Banks and financial institutions face a barrage of lawsuits from consumers alleging they failed to investigate inaccurate information on a credit report. Industry blames the uptick in litigation on social media sites and the proliferation of credit repair companies.

Fifteen million Americans who owe a combined $49 billion in medical debt would benefit from a proposal by the Consumer Financial Protection Bureau to scrub medical debts from credit reports and ban their use in underwriting decisions.

At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.