Alternative lending

Shadow lending growing as Canadians chase housing dream


The risk to Canada's financial system from tapped-out borrowers is merely shifting — this time to a market where there's no oversight from the country's national bank regulator and new stress-test rules don't apply.


CFPB program to encourage innovation has first beneficiary


The Consumer Financial Protection Bureau issued its first "no-action letter" to an online lender that uses alternative data to determine creditworthiness and loan pricing.


A solid Q2 for banks; Goldman targets Volcker rule


Bank earnings rose nearly 11% in the second quarter, according to the FDIC; Goldman lobbying to kill or weaken the rule to boost its bond trading performance.


Shedding light on this bank’s tie-up with a solar panel lender


Working with Sungage Financial will help NBT Bancorp diversify its consumer loan portfolio and learn from a fintech startup with a speedy credit approval process.


'Existential requirement for banks': Comments of week


Readers this week highlighted the need for banks to upgrade payments systems, debated a small bank’s decision to ditch its legacy core vendor, lamented populist initiatives of the GSEs, and more.


Is your AI racist? A lawmaker wants to know


The promise of fintech is that it might offer underbanked consumers access to financial products. But some are worried that relying on algorithms to make credit decisions could open up problems of its own.


An online loan in five minutes? This startup says it's possible


Dan O'Malley, who until very recently ran the fintech incubator at Eastern Bank (and before that was at Capital One), now has a startup called Numerated Growth Technologies and software that he says can process loans in five minutes.


House to vote on Choice Act; Amazon expands lending program


Bill would replace much of Dodd-Frank but is unlikely to become law; online retailer is expected to expand Amazon Lending program to small businesses in the U.S., U.K. and Japan.


The squeeze on Chinese banks; Amex suit continues


More business lending is shifting from banks to "murky" trusts as the government imposes more restrictions to reduce risky loans; 11 states advance suit as Justice Department retreats.


Fed promises more transparent stress tests; Barclays on blockchain


Fed Gov. Jerome Powell says central bank will provide more information to banks about how it conducts annual tests; bank CTO discusses its 2018 blockchain test.