News Topic: Consumer lending

Research shows most consumers would prefer more options to pay down their debt early. Here’s why it would also help banks. ... Read full article

The decision by the state’s Department of Business Oversight on an application for a lending license by Sezzle could guide fintechs and others seeking to make loans to consumers at the time of purchase. ... Read full article

New CEO Tim Wennes is counting on soon-to-launch digital offerings to boost consumer loans and deposits and playing up Santander's international reach in a bid to win over middle-market and corporate clients. ... Read full article

The state has proposed a law to cap the interest rate on certain consumer loans, but nonbanks aim to skirt it by seeking a rent-a-charter. ... Read full article

The fresh optimism is starting to outweigh some of the worries hanging over the sector heading into the new year. ... Read full article

The proposed changes laid out by banking regulators would clear up confusion about what qualifies for CRA credit within so-called Opportunity Zones. But not all community development advocates are convinced that the changes are for the better. ... Read full article

Easy credit has given way to cautiousness, with financial technology upstarts now seeking households with higher incomes, above-average credit scores and less debt relative to their wages. ... Read full article

The United States could be the point-of-sale lender's largest market within two years, its CEO says. The firm's investors include BlackRock, Sequoia Capital and the rapper Snoop Dogg. ... Read full article

Corporate debt swelled to $15.987 trillion in the third quarter after borrowing increased by nearly 6%, according to the Federal Reserve. ... Read full article

Casting aside recession fears, the credit bureau predicts credit cards, mortgages, auto loans and unsecured personal loans should all perform well — including those extended by online lenders. ... Read full article

The average price of a previously owned car has fallen in two consecutive months, and if the trend continues, lenders could see losses mount, Richard Fairbank said this week. ... Read full article

Brendan Coughlin will succeed Brad Conner as head of consumer banking, and Beth Johnson will be the bank's first chief experience officer. ... Read full article

House and Senate lawmakers have denied a push by banking groups to grant banks the rent-free access to military installations that credit unions have. ... Read full article

Federal and state policymakers wagged their fingers this week at high-cost lenders that might be looking to team with banks to evade a 36% ceiling on interest rates. ... Read full article

Lenders contend the proposal goes beyond policing third-party debt collectors and could expose banks to enforcement actions and lawsuits. ... Read full article

Nearly one in four bankers said that the tech giants pose the biggest competitive threat in the long term. But are those fears warranted? ... Read full article

The online lender said it applied insights from its partnership with Fifth Third Bancorp in developing a new digital platform it’s marketing to other large financial services companies. ... Read full article

Five years into Victor Dodig's time as chief executive officer of CIBC, the performance gap between Canada's fifth-largest bank and its peers is as wide as ever. ... Read full article