Consumer lending

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


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.”


Consumer lender Oportun lays groundwork for IPO


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


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


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.


Goldman Sachs paid price for expansion into consumer banking


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.


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


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


Fed working group proposes SOFR-based mortgage by 2021


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.


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


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.


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


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.


Small-dollar lending fintech attracts Prudential backing


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.


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


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