Nonbank

The Consumer Financial Protection Bureau’s new regulation governing prepaid cards will disrupt consumer practices, drive up costs and wreak havoc on a fast-growing sector within the payments industry.

The Federal Trade Commission took a victory lap Tuesday in its fight with race car driver Scott Tucker and his payday lending operation.

Prosper Marketplace is closing the secondary market for its loans, citing a lack of demand among investors.

WASHINGTON — More than one hundred House Democrats sent a letter to Consumer Financial Protection Bureau Director Richard Cordray on Wednesday calling for the agency to strengthen its proposal to rein in payday lending.

Gary "Litefoot" Davis, a member of the Cherokee Nation in Oklahoma and a music and on-screen personality, was named executive director of the Native American Financial Services Association.

A top CFPB official said Monday that lenders have adjusted their business models and practices to comply with new rules, while MBA CEO David Stevens called on the Federal Housing Administration to clarify its underwriting standards.

The Consumer Financial Protection Bureau can determine nearly anything to be an unfair, deceptive or abusive act or practice, and it's more likely to do so when lenders try to take advantage of regulatory loopholes.

With new fintech investments tapering off and banks starting to get the hang of digital innovation, young companies need to take a hard look at their business models.

A fintech startup called Point is allowing consumers sell a piece of their home equity to investors, rather than borrowing against the value of their houses.

Lending Club, which has been rebuilding its executive ranks in the wake of a recent scandal, is hiring Thomas Casey as its chief financial officer.

Within five years, a dramatic transformation of the mortgage market will force firms to expand product menus beyond mortgages to develop stronger relationships with their customers.

The large marketplace lender is turning to everyday savers as it seeks to bounce back from a damaging scandal.

Despite their slowdown in growth, marketplace lenders are still in good position to gain from the digitization of the financial services industry.

New, stricter regulations on loans to active-duty service members take effect on Oct. 3. Here’s a guide for getting ready.

Industry fears about the Consumer Financial Protection Bureau's "UDAAP" authority recall steps Congress took in the '70s to rein in the Federal Trade Commission.

General Electric named new heads for its finance and M&A operations as the company prepares for life as a more-focused industrial manufacturer.

WASHINGTON – The Financial Crimes Enforcement Network is proposing to extend anti-money-laundering requirements to a limited number of financial institutions that are not already regulated by a federal agency.

Many lenders are still reluctant to give mortgages to borrowers with less-than-pristine credit, yet such loans are far more likely than prime jumbo loans to be bundled into collateral bonds. Sreeni Prabhu of Angel Oak Capital credits banks' behavior and higher interest rates for that reality.

As the Consumer Financial Protection Bureau prepares to finalize its rule on prepaid cards, the agency must clarify that automated overdraft products – a common reason consumers dump their banks – are not allowed on prepaid accounts.

Medallion Financial, trying to diversify beyond its traditional business of financing taxi drivers, plans to issue loans on behalf of web-based lenders. But that new strategy faces some potential pitfalls.