Consumer lending

CFPB proposes a new category of 'seasoned' qualified mortgages

08/18/20

The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability.

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Online lenders reach landmark settlement with Colorado

08/18/20

Under the agreement, fintechs and their bank partners will have a safe legal harbor to offer loans, as long as their interest rates do not exceed 36% and they meet various other standards.

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New subprime lending startup will focus on financing health care

08/13/20

Covered Care is promising to offer affordable loans to borrowers with credit scores below 700.

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Here's the credit quality metric to keep an eye on

08/12/20

Criticized assets are on the rise, especially in commercial portfolios, and may be the forerunner of a wave of loan losses later this year or next year unless economic conditions strengthen.

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Bankers don’t see economy recovering anytime soon

08/10/20

More than a third fear the fallout from the coronavirus pandemic could drag into 2022 or later, and they are most worried about commercial real estate loans, according to a Promontory Interfinancial Network survey.

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Household debt falls for first time since 2014

08/06/20

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

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Biggest U.S. banks have more than $150 billion of deferred loans

08/05/20

Deferrals on residential mortgages and home-equity loans have been a common theme at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup since the start of the coronavirus pandemic.

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Founder of consumer lender Aura steps down as CEO

08/03/20

James Gutierrez will remain on the board of directors and is trying to arrange financing to help keep the struggling company afloat.

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Citi’s new credit card perk gives Amazon edge in winning big orders

08/03/20

Citigroup plans to let credit-card customers finance big purchases on Amazon.com over longer periods of time — a deal that may spur sales at the e-commerce giant while boosting the bank’s interest-bearing balances.

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IPO done, nCino now has to prove it can turn a profit

07/28/20

The pressure is on the fintech, which helps banks make digital loans, to stanch its losses and show its lofty market valuation was deserved.

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