The company falsely advertises its cash advances as requiring no collateral or personal guarantee, according to a lawsuit filed by the Federal Trade Commission.
Citigroup plans to let credit-card customers finance big purchases on Amazon.com over longer periods of time — a deal that may spur sales at the e-commerce giant while boosting the bank’s interest-bearing balances.
Government stimulus programs are buoying consumers hurt by the coronavirus shutdown; the bank has been forced to sell loans to stay within the Fed-imposed $1.95 trillion asset cap.
No two properties are alike, so lenders are tailoring their approaches for modification, forbearance and repayment of loans to a sector devastated by the pandemic.
Bankers are left wanting after details on PPP forgiveness plan emerge; why OnDeck is being sold on the cheap; Fannie, Freddie to face banklike liquidity standards starting Sept. 1; and more from this week’s most-read stories.
The Conference of State Bank Supervisors, banking law scholars and consumer advocacy organizations filed amicus briefs siding with the New York State Department of Financial Services in its court battle with the federal regulator.
