News Topic: Consumer lending

Record originations on "better-yielding" used-car loans helped drive a 14% increase in its first-quarter profit. But Ally's shares were down Thursday on concerns of rising deposit costs. ... Read full article

The Federal Trade Commission alleges in a lawsuit that the company's "no-hidden-fee" pledge is deceptive. LendingClub says the claims are unwarranted. ... Read full article

The New York senator offers legislation to empower U.S. post offices to take deposits and make loans. ... Read full article

No individuals have been named in connection with the bank’s recent misdeeds, which resulted in a $1 billion fine, even as some senior leaders stand to gain from the government’s tax cut. ... Read full article

Double-digit consumer-loan growth more than offset a decline in commercial real estate loan balances. ... Read full article

After nearly two years of sputtering commercial loan growth, regional bankers are counting more than ever on expanding their portfolios of personal loans and other types of consumer credit. ... Read full article

The regional bank's net income rose 37% thanks to those factors and others. ... Read full article

The Providence, R.I., company reported a double-digit increase in quarterly profits despite a year-over-year decline in fee-based revenue. ... Read full article

Lending, especially in some consumer segments, increased at Bank of America in the first quarter, and CEO Brian Moynihan expects that to continue this year. However, for market watchers skeptical about the industry's growth prospects, BofA's ... Read full article

Expanding SBA funding and providing additional Community Reinvestment Act credit could help boost female entrepreneurs. ... Read full article

Regulators should revise existing rules to encourage banks to offer short-term loans to customers who run into financial emergencies. ... Read full article

As upstart companies mature, they face pressure to develop deeper relationships with their customers. That is leading some to offer to a wider range of products, including deposit accounts. ... Read full article

The Treasury Department’s long-awaited report on modernizing the Community Reinvestment Act was heavy on glittering generalities but light on specifics, which explains why the report punted the real job of making needed reforms. ... Read full article

The government is pushing up mortgage prices to dangerous levels by easing credit standards in a market where supply is low but demand is high. ... Read full article

Concerned about rising default rates, banks "significantly" tightened underwriting in the first quarter, the Bank of England said in a report published Thursday. ... Read full article

Oportun, a consumer lender that focuses on Latinos, is rolling out a product designed to combat overdraft fees. ... Read full article

Critics argue that Community Reinvestment Act standards need to be more transparent, but creating more objective measures would require regulators to favor some types of loans over others. ... Read full article

The Seattle bank's improved loan yields offset higher expenses tied to Bank Secrecy Act remediation. Washington Federal had to delay a pending acquisition after issues emerged with its anti-money-laundering compliance. ... Read full article