M&T Bank, Citizens Financial and Huntington Bancshares are playing it safe even as some of their counterparts have started to trim allowances in response to government stimulus efforts and rapid progress in the rollout of the coronavirus vaccine.
Andrew Harmening, who oversaw Huntington's digital strategy, will succeed the retiring Philip Flynn as president and CEO of the Wisconsin regional bank in April.
In "Democracy Declined," Duke public policy professor Mallory SoRelle argues that policymakers should be more aggressive in combating unfair lending practices.
In the midst of the pandemic recession, banks have benefited from government stimulus payments to consumers, low interest rates and constraints on the supply of new vehicles. But intensifying competition and real concerns about borrowers’ ability to pay loans that went into forbearance could soon threaten profits and credit quality.
As the Consumer Financial Protection Bureau slowed its pursuit of bad actors, state attorneys general vowed to pick up the slack. Here’s why they fell short — and why they are poised to get aggressive again.
Acting Director Dave Uejio said Tuesday that the Consumer Financial Protection Bureau will push back implementation of the qualified mortgage rule and may amend or revoke other Trump-era rules that have yet to take effect.
Unsecured personal lending has fallen as many consumers have stashed away cash and paid down credit card balances during the pandemic. The trend probably won’t reverse course anytime soon.
Origination volume hit a record high in 2020 as more borrowers tapped the equity in their homes and investors and second-home purchasers flocked to the market at levels unseen since before the Great Recession.
Opportunity Financial, which offers consumer installment loans in partnership with banks, is merging with FG New America Acquisition Corp., a special-purpose acquisition corporation. The deal is expected to close in the second quarter.
The biggest U.S. banks reduced the portion of their collective balance sheets they’re dedicating to loans to a new low, extending a trend that’s seen the largest lenders put less and less of their firepower behind everyday borrowers.
