News Topic: Consumer lending

As part of the agreement with HSN, Synchrony has also extended its partnerships with HSN affiliates QVC and the e-commerce site Zulily. ... Read full article

Lawrence Weinbach will replace David Nelms, who had already stepped as CEO. The transition will take place Jan. 1. ... Read full article

Former CFPB chief Mick Mulvaney had claimed the agency could not supervise firms for Military Lending Act compliance, but lawmakers want his successor to go in a different direction. ... Read full article

New York legislators are pledging to change laws that have allowed predatory lenders to use the state court system to seize the assets of thousands of small businesses across the country. ... Read full article

The Chicago bank's new partnership with AutoGravity mirrors others struck this year by JPMorgan Chase and U.S. Bank with providers of mobile apps that bundle the car-buying and lending processes. ... Read full article

The company, which helps banks develop high-tech products and services, has agreed to buy Gro Solutions after recently completing its deal for Cloud Lending. ... Read full article

Regulators are considering reforms to the Community Reinvestment Act, but it’s not clear that the law is needed anymore. ... Read full article

Social Finance, the lending and refinancing startup valued at more than $4 billion, is cutting about 7% of its staff, according to a person familiar with the matter. ... Read full article

Zions' Harris Simmons named Banker of the Year; distilling the hopes and hang-ups around CRA reform; new grist in still ongoing debate over Operation Choke Point; and more from this week's most-read stories. ... Read full article

Readers weigh in on consumers taking on more debt, President Trump's criticism of the Federal Reserve and Zions CEO Harris Simmons as Banker of the Year. ... Read full article

Unlike online lenders, banks are focusing primarily on consumers with solid credit scores. But unsecured loans to prime borrowers have a limited track record, so it’s hard to predict how they’ll perform when the economy inevitably weakens. ... Read full article

Bank groups are pushing a variety of proposals to delay the loan-loss rule or soften its impact. The accounting standards board has agreed to review at least one of them — but at a pace that might not be fast enough for lenders. ... Read full article

Adults ages 18 to 29 may have a hard time getting a mortgage, but they are not shying away from other forms of consumer debt, according to a report by the New York Fed. ... Read full article

Self Lender is launching a secured credit card next year in the hopes of attracting big-bank partners that can use it to comply with the Community Reinvestment Act. ... Read full article

The bank recently notified an upstate New York man that he was wrongly denied a mortgage modification, and enclosed a $25,000 check. But details of what went wrong have been hard to come by. ... Read full article

Readers sound off on the 2018 midterm election results, OCC's Otting defending his agency's right to charter fintechs, and predictions the plastic credit card is nearly dead. ... Read full article

The head of the Consumer Bankers Association lays out four industry priorities for the regulatory push to overhaul the Community Reinvestment Act. ... Read full article

The passage of Proposition 111, which also prohibits lenders from adding origination and monthly maintenance fees, makes Colorado the fifth state to impose caps on payday loans through a voter referendum. ... Read full article