Nonbank

American International Group Chief Executive Peter Hancock said he's more focused on boosting returns than worrying about the government's classification of his company as a systemically important financial institution.

The embattled firm is offering financial incentives in an effort to kick-start lending, but compliance-focused banks have been slow to respond.

The marketplace lender OnDeck Capital is sticking with its lend-and-hold strategy even though the practice contributed to a second consecutive quarterly loss.

Independent mortgage banking and brokerage firms added a whopping 5,900 fulltime employees to their payrolls in June, according to a report issued Friday by the Bureau of Labor Statistics.

Nonbanking fees are also allowing Community Bank System in New York to be a patient acquirer even though it is creeping up on $10 billion in assets.

The linchpin of the federal government's payday lending proposal is a credit-reporting system for small-dollar loans created by the private sector, but the kinds of companies that could create it haven't stepped forward.

The Consumer Financial Protection Bureau's plan to rein in payday and other lenders has some noticeable benefits for consumers, but much of the proposal should be revised.

In an acknowledgement that many U.S. small businesses cannot qualify for a bank loan, a federal agency that assists minority-owned firms is now partnering with a pair of online lenders.

CommonBond is doubling down on the education-debt market, which has been a pocket of tranquility in an otherwise volatile online lending sector.

Some banks are looking to reenter small-dollar consumer lending now that a recent CFPB proposal has given them greater regulatory clarity. But they may need help from technology companies to make a very labor-intensive business more profitable.

Online marketplace lenders found themselves in the congressional crosshairs Tuesday just as some lawmakers are attempting to provide the industry with sought-after reforms.

WASHINGTON — The head of the American Bankers Association on Tuesday defended financial institutions' partnerships with fintech firms but argued that banks top nonbank startups in serving as "trusted custodians" for their customers' funds.

Attempting to impose the fundamental laws of a particular lending universe on another will lead to an eventual collapse of a particular firm or industry segment.

Turmoil in marketplace lending has less to do with loan quality and more to do with how lenders price loans to meet supply and demand.

The number of customers who obtained 10 payday loans in 2015 outnumbered those who obtained just one, the California Department of Business Oversight said in a report Wednesday.

For the second time in six weeks, the online lender Avant is taking steps to reduce the size of its workforce.

The business case for real-time payments is not the opportunity to charge high fees. Rather, the payoff – which will take time – will come in retaining customers, lowering operational costs, and delivering timely financial insights to smartphone-toting customers.

Seven weeks into a crisis precipitated by the ouster of the company's longtime CEO, the embattled marketplace lender is trying to convince shareholders that it is turning a corner.

WASHINGTON — Big banks have drastically reduced their share of the Federal Housing Administration market, a massive shift that has big implications, according to new analysis by the American Enterprise Institute.

The court's decision to return Madden v. Midland Funding to a lower court leaves unresolved a number of important questions for marketplace lenders and other parts of the consumer-finance industry.