Nonbank

As online business lenders grow in number, size and prominence, a new trade group is being launched to represent their interests in Washington.

The subprime consumer lender currently rejects many of its personal loan applicants. It hopes to qualify more borrowers by offering cash to those who are willing to put their cars up as collateral.

Online lender StreetShares' strategy is based on the premise that borrowers are more likely to repay when they have a genuine personal connection to the lender.

Treasury Secretary Jack Lew cast doubt Tuesday on whether recent moves by large nonbank firms to sell assets were driven by a desire to shed their regulatory label of "systemically important."

The Supreme Court on Monday asked the executive branch for its views on a legal case that has sparked worry within the financial industry. That opinion is expected to have a big impact on whether the justices decide to hear Madden v. Midland Funding.

Chicago-based Avant said Monday that it has started offering to refinance car owners’ loans. The firm also plans to begin financing purchases of new and used vehicles later in 2016.

Some believe the capital markets need prudential regulation to protect the system from danger, but here's why that is a false assumption.

The Supreme Court on Monday asked the Obama administration to express its views in a case that has raised doubts about the business model used by many online lenders.

Rep. Patrick McHenry, R-N.C., is readying a package of bills, one of which could provide financial tech firms with national standards, so that they wouldn't have to comply with the various state regulations.

The chairmen of the House and Senate banking committees appear to agree that banks that hold higher capital should get a significant break on other regulatory requirements. But the odds of enacting a bill this year remain long.