Consumer lending

Lenders must learn from pandemic-related credit reporting issues


Credit unions need to improve their processes to ensure the problems that have arisen with credit reporting during the coronavirus don't happen again.


How a tweak to the Federal Home Loan banks could save cities


Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.


Ally expects margin expansion from consumer loan growth


Originations in the third quarter are on pace to double what the Detroit lender reported a quarter earlier, adding more high-yielding loans to the balance sheet.


Credit unions' credit card balance declines mirror broader trend


The industry saw small gains in many loan categories during the second quarter, but credit cards declined. A new study from WalletHub shows the biggest quarterly drop in credit card balances in over 30 years.


Online loans are holding up better than expected


Fintech lenders that reported a surge in missed payments at the start of the pandemic have seen credit quality rebound substantially since. But credit performance could still deteriorate if high unemployment persists and Congress fails to enact more relief measures.


To lure Gen Z, credit unions power up with online gaming


Texas Trust Credit Union boosted loan volumes with marketing tool inspired by “Game of Thrones,” but gamification strategies can be risky due to data privacy concerns.


California probes potential violation of new rate-cap law


The state's financial regulator sent a subpoena to an auto-title lender seeking information about its partnership with a Utah bank, marking the first public disclosure of an investigation into efforts to evade a 2019 law capping interest rates on many consumer loans.


Why Visa and Mastercard are suddenly keen on installment lending


The card networks, along with PayPal and Citi, are responding to competition from the likes of Affirm, Afterpay and other "buy now, pay later" lenders. Should traditional credit card lenders be worried?


Credit unions could take a hit as pandemic alters college landscape


Lenders are struggling to deploy deposits into interest-earning assets, and changes to post-secondary education may further limit these options.


Credit card firms split on fate of consumers while U.S. cuts aid


Capital One Financial is reining in credit lines to reduce its exposure while the nation’s largest card issuer, JPMorgan Chase, is rolling out a new card designed for travelers and diners.