Consumer lending

Smaller institutions should embrace, not oppose, fintechs

03/22/19

Financial startups are becoming important partners for community banks and credit unions, despite lobbying efforts to limit their growth.

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Madden lawsuit nears end, but online lenders still seek fix from regulators

03/18/19

The online lending industry has turned to the courts, Congress and now federal banking agencies in an effort, thus far fruitless, to blunt the impact of a 2015 appeals court ruling.

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Are regulators close to consensus on CRA reform?

03/18/19

Recent remarks from top officials at the FDIC and Fed suggest the agencies' recent impasse over reforming the Community Reinvestment Act may be ending.

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Rivalry between two Silicon Valley lenders turns personal

03/14/19

Seven years after James Gutierrez left Oportun Financial and started a competitor, the acrimony sparked by the divorce is coming into public view.

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CFPB’s Kraninger grilled over payday, military lending

03/12/19

The bureau's director, Kathy Kraninger, faced a barrage of criticism from Senate Democrats on the agency's lack of enforcement actions, a reversal on Military Lending Act examinations and changes to the payday loans rule.

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CECL spells trouble for small banks, consumers

03/11/19

The new accounting standard won’t make community institutions safer, though implementation is proving burdensome and could restrict access to credit, argues Rep. Blaine Luetkemeyer.

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Can Citi and Chase beat fintechs at their own game?

03/08/19

The upstart lenders have been chipping away at credit cards’ consumer-lending dominance by offering fixed-rate loans with predictable repayment plans. Now the card giants are fighting back.

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Bank deposit advances are payday loans in disguise

03/08/19

Recent history shows how dangerous these short-term products can be without appropriate guidelines in place.

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House Democrats target CFPB politicos, other Mulvaney changes in new bill

03/06/19

The legislation comes a day before CFPB Director Kathy Kraninger is set to testify to Congress.

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Dear CFPB: Revamp your complaint database

03/06/19

Under the recently appointed Director Kathy Kraninger, the bureau has the opportunity to address numerous problems with its collection and presentation of consumer grievances.

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