Lending

The high-cost lender wants a federal court to vacate a nine-figure judgment, claiming the Consumer Financial Protection Bureau acted in "bad faith" by abandoning a settlement agreement that would have sharply reduced the company's payment.

The company, formerly known as LendingClub, moved from NYSE to Nasdaq as it officially launched its new name as a full-fledged digital bank.

The recent uptick in commercial-and-industrial lending is the result of disruption in the private credit sector, one economist argues. Bank analysts say the upheaval in private credit is one factor among many.

A federal judge harshly criticized the settlement of a civil suit between the Department of Justice and a Texas land developer.

The digital bank and lender did not increase its full-year outlook in anticipation of an interest rate freeze.

The investment firm's Alternatives division comprised a majority of the online lender's $60 million Series C funding round.

The Consumer Financial Protection Bureau has finalized changes to Regulation B, which implements the Equal Credit Opportunity Act, to eliminate any liability for indirect discrimination by lenders. The change represents a major shift in how the agency polices lending discrimination.

Banks are pushing back on the Consumer Financial Protection Bureau's draft of a five-year strategic plan, which includes a notable pullback from supervising nonbanks.

The Federal Savings Bank in Chicago got hit with a federal consent order after the Office of the Comptroller of the Currency found that the bank blasted veterans with millions of deceptive ads.

A federal judge refused to sign a settlement agreement between the Department of Justice and Houston developer Colony Ridge because it failed to provide any consumer relief. DOJ agreed to an out-of-court settlement instead.

Advances from the Federal Home Loan Banks dipped in the third quarter, but experts do not necessarily see the dip as a sign of ample liquidity in the economy.

Bankruptcies at First Brands and Tricolor should be a wake-up call for banks exposed to the private credit market. Banks should treat indirect lending to shadow banks as a high-risk activity that demands active oversight.

Signs of elevated stress are emerging within the $1.7 trillion private credit market as default rates are rising and more borrowers are choosing to defer cash interest payments, according to a Bank of America Corp. report.