News Topic: Consumer lending

The Australian firm agreed to pay around $1 million in connection with allegations that it broke the law by operating without a license in the nation's largest state. ... Read full article

Bankers say they understand the need for an extraordinary government response to the coronavirus outbreak, but worry that even slashing interest rates won’t stimulate demand. ... Read full article

Banks typically don't offer loans to cash-strapped consumers, and are poorly positioned to start doing so on an emergency basis — unless the government steps in to help. ... Read full article

No-interest loans and overdraft forgiveness are among the lifelines banks are offering to consumers and small businesses whose livelihoods are being upended by the economic fallout. ... Read full article

Habis, who joins the bank from MUFG Union Bank, will replace Michael Cleary, who left Santander last fall and recently joined Wells Fargo. ... Read full article

The move come a day after the Bank of England cut rates and introduced a series of emergency measures, including capital requirements and a lending program for smaller companies. ... Read full article

Firms such as Afterpay that offer financing to shoppers have been enjoying rapid growth. But their model is under scrutiny from regulators, being mimicked by credit card lenders and faces heightened risks in a downturn. ... Read full article

Brendan Coughlin, head of consumer banking, explains how Citizens established its relationships with Apple and Microsoft for point of sale financing and how they've evolved. ... Read full article

Concerns about the economic fallout of coronavirus have mostly focused on supply chain disruptions. But fears are growing that weakening consumer demand could spark a recession. ... Read full article

U.S. lawmakers are pushing regulators to provide room for banks to work out loans with businesses and consumers who may be affected by the coronavirus. ... Read full article

Executives outlined changes in energy lending policies, said that the largest U.S. bank has only scratched the surface in middle-market credits and discussed their preparations in case of an economic slowdown. ... Read full article

With interest rates and unemployment at rock-bottom lows and home values rising, the part of JPMorgan's retail business that sells home loans to consumers made money last month, marking the first profitable January in five years, according to people ... Read full article

Investors are reacting skeptically to the auto lender's deal to acquire CardWorks for $2.65 billion. ... Read full article

The move comes as the fintech tries to shake off criticism that its main products are payday loans by another name. ... Read full article

CardWorks also specializes in non-prime credit cards and loans for recreational and marine vehicles. ... Read full article

The online lender's deal for Boston-based Radius would be the first in history in which a fintech buys a mainstream bank. ... Read full article

Bank will have more business lines, all reporting to the CEO; a research paper says the accounting rule could result in eased capital rules. ... Read full article

Mike Weinbach will lead consumer lending as part of a reorganization that will change the responsibilities of three longtime bank executives. ... Read full article