News Topic: Consumer lending

The Minneapolis bank will open about 10 branches in North Carolina's largest city by the end of next year, adding to already intensifying competition among big banks. ... Read full article

The two banks, which plan to complete their merger by early fall, have little geographic overlap, so they can keep lending teams in place and push for immediate loan growth, according to Craig Dahl. ... Read full article

The Rhode Island bank’s deposit costs nearly doubled in the first quarter, but CEO Bruce Van Saun says it has to go on the offensive to sustain loan growth. ... Read full article

Marianne Lake, seen in recent months as a leading candidate to replace CEO Jamie Dimon, got the post she may have needed to round out her resume — consumer lending chief. And Jennifer Piepszak, another rising star at the company, will take over as CFO from ... Read full article

Net interest income at the bank's consumer unit rose nearly 10%. But first quarter could be the last hurrah for that catalyst at BofA and other banks as the Fed pauses its rate-tightening cycle. ... Read full article

The Federal Trade Commission accused the online lender of numerous violations in connection with its loan servicing practices. In one example, Avant allegedly informed customers that they could make payments by credit card or debit card but then refused to ... Read full article

Financial education programs have been shown to be largely ineffective. What low-income consumers really need from banks are better products and more tailored advice. ... Read full article

Chief executives of Wall Street's largest banks were awarded record pay packages last year as profits soared. Nearly 2,500 miles away, the CEO of a little-known online lender, born at the height of the dot-com bubble, quietly outearned them all. ... Read full article

The technology provider to financial advisers is partnering with Advisor Credit Exchange to help them connect their clients with banks and nonbanks for consumer and business loans. ... Read full article

The San Francisco fintech, which uses artificial intelligence to make consumer credit decisions, has raised an additional $50 million. It also announced new partnerships with lenders and plans for a credit card. ... Read full article

The Earnin app appears designed to look like other early wage access programs, but critics say it’s actually a payday lender and New York regulators have taken notice. ... Read full article

The Silicon Valley-based fintech, which recently announced a new partnership with Walmart, plans to add hundreds of new workers this year. ... Read full article

Banks of all sizes need to stick together to ward off threats from "unregulated" fintechs and other nonbanks, Bank of America Chairman and CEO Brian Moynihan said Tuesday. ... Read full article

American Banker won 11 journalism awards during the past week, including its first Grand Neal, the highest of the honors announced at this year's Jesse H. Neal business journalism awards. ... Read full article

The San Francisco-based online lender said that the departures of two prominent board members are not the result of any disagreement with the company. ... Read full article

Financial startups are becoming important partners for community banks and credit unions, despite lobbying efforts to limit their growth. ... Read full article

Recent remarks from top officials at the FDIC and Fed suggest the agencies' recent impasse over reforming the Community Reinvestment Act may be ending. ... Read full article

The online lending industry has turned to the courts, Congress and now federal banking agencies in an effort, thus far fruitless, to blunt the impact of a 2015 appeals court ruling. ... Read full article