News Topic: Consumer lending

A broader cross-section of hires and added training could help financial institutions avoid problems with algorithm-based discrimination in lending. ... Read full article

Just two months ago, Comptroller Joseph Otting seemed to signal that the OCC might be open to letting national banks rent their charters to payday lenders. Now he is clarifying that it won’t happen. ... Read full article

It’s not just weaker underwriting and higher household debt levels that are driving past-due rates to their highest levels in seven years. ... Read full article

While reform legislation for banks is just around the corner, market signals suggest the economy could be headed toward another downturn. ... Read full article

A bill to allow the USPS to offer financial products would be bad for consumers, taxpayers and the banking industry. ... Read full article

Circle Internet Financial says it is now worth $3 billion following latest funding round; proposed changes would give banks more leeway to make some trades. ... Read full article

U.S. credit card issuers are already caught in the middle of intense debates over guns, marijuana and cryptocurrencies. Gambling on sports is next. ... Read full article

Year to date Dec. 31, 2017. Dollars in thousands. ... Read full article

With the regulatory relief bill set to become law soon, some congressional Republicans are already calling for additional rollbacks to the Dodd-Frank Act. There’s one thing they should keep in mind: Community banks had a hand in the crisis too. ... Read full article

Household debt is higher than ever, and delinquencies in credit cards and unsecured personal loans are edging upward. Bruce Van Saun, chairman and CEO of Citizens Financial, shares his views on the market and the business opportunities there. ... Read full article

Legal costs and legacy issues related to previous management continue to weigh on the online lender's results. ... Read full article

The agency’s rule restricting short-term loans ignores state discretion and harms needy borrowers, argues Louisiana’s attorney general. ... Read full article

Auto lenders would be well advised to keep up their guard as states — particularly blue ones — take steps of their own to crack down on what they see as abusive practices. ... Read full article

New legislation calling on the USPS to begin offering banking services is a dangerous use of government resources. ... Read full article

The fintech wants to facilitate loans for elective surgeries, auto repairs and jewelry purchases, but regulatory uncertainty — at the state and federal levels — casts a cloud over its business model. ... Read full article

The agency’s 2013 guidance is frequently portrayed as either an overdue push to stamp out lending discrimination or a case study in regulatory overreach. In truth, its impact was minimal. ... Read full article

On Dec. 31, 2017. Dollars in thousands. ... Read full article

The U.S. subsidiary of the Spanish banking giant BBVA said Friday that direct consumer loans increased 40% in the first quarter and that its digital strategy is bearing fruit. ... Read full article