Nonbank

LAS VEGAS – Office of the Comptroller of the Currency chief Thomas Curry said Thursday that banks have reached a do-or-die moment and it is up to them to keep up and outinnovate nonbank rivals.

Regulators and lawmakers must exercise healthy caution before granting fintech firms preemptive powers via national bank charters or otherwise.

BlueVine, an online business lender based in Palo Alto, Calif., is branching into unsecured lending.

Lending Club, Prosper Marketplace and Funding Circle are locking arms to create a new trade group that will represent the marketplace lending industry in Washington.

Banking industry representatives immediately raised significant questions about Donald Trump's plan to block remittances to Mexico, including the appropriateness of using financial institutions as a tool to carry out immigration policy, as well as how the policy would be executed.

GOP lawmakers and witnesses at a Senate Banking Committee hearing pointedly criticized the Consumer Financial Protection Bureau on Tuesday, setting the stage for a likely contentious hearing with the agency's director later in the week.

As more employers offer student loan repayment assistance to their workers, lenders that specialize in refinancing debt — like Citizens Financial and SoFi — see an opportunity to reel in more customers.

JPMorgan Chase has agreed to sell its U.S. Department of Agriculture Rural Development mortgage origination business to Freedom Mortgage of Mount Laurel, N.J.

The former head of the FDIC has a longstanding interest in small-dollar consumer lending.

The Dallas-based subprime consumer lender backed off controversial changes to its method for calculating its quarterly provisions for loan losses, forcing it to revise earnings downward for the last two years. It also announced that it had found more accounting issues.

The payments pioneer is transforming its merchant cash advance into a business loan, a move that has significant legal and regulatory implications.

The ability to program value exchanges without risk of censorship, moderation or theft gives smart contracts a leg up in servicing users who lack a mainstream banking association.

WASHINGTON — Congress should consider streamlining the financial regulatory structure and give the Financial Stability Oversight Council broader authority to respond to systemic risks, according to a Government Accountability Office report published this week.

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.