The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending. ... Read full article
On Mar. 31, 2019. Dollars in thousands. ... Read full article
On Mar. 31, 2019. Dollars in thousands. ... Read full article
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.” ... Read full article
In a registration statement filed with the SEC, the company revealed new details about its financial performance and its growth plans. ... Read full article
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. ... Read full article
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. ... Read full article
The fintech is moving ahead with a loan service after regulatory concerns stymied its deal for an ailing bank. ... Read full article
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 ... Read full article
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. ... Read full article
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. ... Read full article
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. ... Read full article
Customers of Marcus, the consumer lending arm that launched in 2016, defy easy categorization, according to an executive at the Wall Street bank. ... Read full article
The move to add dozens of branches, many in low- and moderate-income neighborhoods, continues a strategic shift under retail banking chief Pablo Sanchez. ... Read full article
Rather than receiving a lump-sum payment from the online lender, borrowers can now choose to have the proceeds of a debt consolidation loan sent to the companies they owe. ... Read full article
The House Armed Services Committee approved a bill without a key provision that would allow banks a no-cost presence on military installations, a privilege some credit unions currently enjoy. ... Read full article
Despite renewed calls from Democrats looking to USPS to offer banking services, policymakers should instead consider reforms that would permit private-sector firms like Walmart and Amazon to offer a wider array of financial products. ... Read full article
The digital bank is a whole new line of business for Goldman, meaning there's no risk that it is cannibalizing from the main institution, said Omer Ismail, the head of the bank's U.S. consumer business. ... Read full article
It’s the one consumer loan category where balances continue to fall, and disruption from nimbler fintechs is a big reason why. To win back market share, banks will need to beat the upstarts at their own game. ... Read full article
The San Diego parent of Ascent Student Lending said Tuesday that it will buy Skills Fund, an Austin, Texas, startup that specializes in lending to students at computer-coding boot camps. ... Read full article
