Consumer lending

G7 warns on Libra; N.Y. Fed chief tells central banks to be bold

07/19/19

Finance ministers call for tight regulation of cybercurrencies; Williams says the Fed must “act quickly to lower rates at the first sign of economic distress.”

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Consumer lender Oportun lays groundwork for IPO

07/18/19

In a registration statement filed with the SEC, the company revealed new details about its financial performance and its growth plans.

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Ally ends credit card experiment, pivots to point-of-sale loans

07/18/19

The company, which announced the conclusion of a three-year-old credit card partnership with TD Bank, is shifting to digital financing of individual consumer purchases.

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Goldman Sachs paid price for expansion into consumer banking

07/16/19

The company revealed its pretax losses for its forays into consumer and other digital banking services, which began in 2016 with the launch of a consumer deposit franchise and an installment loan product.

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Moven's Plan B after buyout bid stalls: Expansion into lending

07/12/19

The fintech is moving ahead with a loan service after regulatory concerns stymied its deal for an ailing bank.

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Fed working group proposes SOFR-based mortgage by 2021

07/11/19

The Alternative Reference Rates Committee promotes the adoption of a new Secured Overnight Financing Rate index rate to replace Libor in pricing hybrid adjustable-rate mortgages within the next two years. The change would be the first application of SOFR to a consumer-loan product.

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Don’t look now, but home equity delinquencies are rising

07/10/19

Past due home equity loans and credit lines rose while most other consumer lending categories held steady or improved, according to new data from the ABA. Why it happened is a bit of a mystery.

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Santander Consumer will pay $60M to remain a Fiat Chrysler partner

07/01/19

The agreement is expected to solidify a lending partnership whose status had been in doubt for more than a year. But it raised as many questions as it answered.

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Small-dollar lending fintech attracts Prudential backing

06/25/19

Aura is one of the few fintechs in the nation to have a Community Development Financial Institution designation from the U.S. Department of the Treasury.

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Goldman Sachs shares a lesson it's learned about Main Street

06/21/19

Customers of Marcus, the consumer lending arm that launched in 2016, defy easy categorization, according to an executive at the Wall Street bank.

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