The company best known for student lending expanded into personal lending less than two years ago. Now it says it is refocusing on core strategic priorities.
The credit card lender has seen problem loans spike since it introduced a feature that lets at-risk customers restructure loans through its online and mobile channels.
Total loans at Regions Financial fell slightly last year, but executives say a shift in consumer lending priorities and more aggressive C&I lending will start to pay off this year.
The fintech Sezzle received its license after agreeing to refund customers and pay a fine for previously making loans that state regulators had deemed illegal.
Roughly a decade after being burned by the most punishing financial crisis since the onset of the Great Depression, it's increasingly clear that the nation's largest lenders are targeting a narrower slice of consumers: The wealthy and those with excellent credit.
The percentage of consumers who are past due on home equity loans, RV and other personal loans also rose in the third quarter, data released by the American Bankers Association showed.
