News Topic: Consumer lending

The court decision regarding the “valid when made” doctrine moved us further away from creating a more effective and inclusive financial system. ... Read full article

Ware has been named a 2017 Banker of the Year award winner for transforming the family-owned bank into a highly profitable community lender that takes calculated risks and prides itself on treating employees and customers well. ... Read full article

Citing the dim financial outlook for a business it entered just six years ago, the Wayzata, Minn., company will stop making auto loans on Dec. 1. ... Read full article

The British banking giant has been testing its new online lending platform with a handful of its U.S. customers and plans to roll it out in full force next year. It's all part of a broader effort to expand its U.S. consumer business beyond credit ... Read full article

It was mostly good news for banks in the Federal Deposit Insurance Corp.'s Quarterly Banking Profile, with higher earnings and net interest margins. But there were concerns as well, including slower loan and deposit growth. ... Read full article

Fed researchers purported to show that consumers who use peer-to-peer loans have bad financial outcomes, but questions quickly emerged about the data they used. ... Read full article

The subprime auto lender late Friday provided the final details of its separation agreement with Thomas Dundon, who stepped down two years ago in a leadership shake-up. ... Read full article

The report’s authors presented findings that seemed to reflect issues with the peer-to-peer lending industry, but they actually relied on data from a much broader category of loans. ... Read full article

The deal for PayPal’s consumer loan portfolio will make Synchrony a bigger player in e-commerce. And the agreement helps the Silicon Valley payments giant achieve its goal of reducing its exposure to the credit cycle. ... Read full article

Evidence that the credit characteristics of online installment borrowers at the time of repayment are consistently worse than at the time of borrowing should be a sobering thought for lenders that have not been fully tested in a credit downturn. ... Read full article

The Cleveland Fed's conclusion that U.S. consumers are typically worse off after getting online loans encountered strong pushback from their advocates. ... Read full article

More stringent underwriting is the likely reason banks and credit unions are seeing relatively low levels of delinquencies on car loans to high-risk borrowers. ... Read full article

The San Francisco company is one of numerous online lenders that are struggling to become profitable. ... Read full article

Consumers who have borrowed from online lenders owe more and have lower credit scores than similarly situated consumers who have not used online lenders, according to a study released Thursday by the Cleveland Fed. The provocative findings seem likely to ... Read full article

The San Francisco firm is the latest U.S. lender to tighten credit standards amid concerns that consumers are shouldering too much debt. ... Read full article

Dinesh Chopra is online bank's first-ever chief strategy officer. ... Read full article

The San Francisco-based lender still posted losses in its portfolio, although those declined considerably from the year-ago period. ... Read full article

The firm outlined a plan in September to generate $5 billion in additional revenue over the next three years, with more than 40% of that coming from lending. ... Read full article