Nonbank

House Financial Services Committee Chairman Jeb Hensarling signaled an aggressive assault on the Dodd-Frank Act on Tuesday, outlining a bill that would allow banks to be released from some of the 2010 reform law's regulations and Basel III requirements if they hold sufficient capital.

Three-fourths of House lawmakers signed a bipartisan letter that calls on the Consumer Financial Protection Bureau to take more steps to carve out community banks and credit unions from onerous regulations. But will it make a difference?

Prosper Marketplace on Monday announced a three-year agreement to offer financing to consumers making improvements to their homes through the website HomeAdvisor.com.

Traditional financial institutions are often seen as the outdated rival to new disruptors, but the idea that a bank can't be a marketplace lender, and vice versa, is a myth.

Prosper Marketplace is rebranding a personal-finance app that it acquired last year, a key part of the firm’s efforts to engage more frequently with its borrowers.

While this presidential race seems to change by the minute, some bankers are beginning to worry that an increasingly likely Donald Trump nomination could threaten GOP control of the Senate and key industry priorities.

The Consumer Financial Protection Bureau is clamping down on student loan lenders and servicers that automatically default on loans when a co-signer declared bankruptcy or dies. Because private student loans are often sold and securitized, some companies' promises to eliminate so-called "auto defaults" are not being upheld.

Market volatility and new regulatory burdens are thinning the ranks of commercial mortgage lenders that underwrite loans for securitizations. Activity is slowing down as a result, and it is unclear if banks and insurers will fill the void, especially outside the largest cities.

WASHINGTON — The House Financial Services Committee approved a bill this week that would increase the mobility of mortgage originators who take a new job across state lines or move from a federally regulated bank to a nonbank.

A new survey from seven regional Federal Reserve banks found that many small businesses are going online to access credit. But even when they are approved, applicants often end up dissatisfied because the loans carry high interest rates or have unfavorable repayment terms.