News Topic: Consumer lending

Increased dealings in direct consumer lending and guaranteed student loans offset a decline in mortgage-related income. A lower loan-loss provision also helped the bottom line. ... Read full article

Though a 33% decline in net income was attributable to large one-time gains that the credit card issuer recorded in the second quarter of 2016, Amex faces major challenges in the pursuit of growth opportunities. ... Read full article

The firm’s latest financial outlook suggests an opportunity to earn profits comparable to those recorded by large, well-established credit card issuers. ... Read full article

The Georgia company made more loans and controlled costs. As a result, it had a 1% return on assets and an efficiency ratio below 60%. ... Read full article

On the first big day of 2Q results, bankers said their investments in middle-market lending have started paying off. JPMorgan Chase and PNC have added commercial loan officers in new markets across the country. ... Read full article

Working with Sungage Financial will help NBT Bancorp diversify its consumer loan portfolio and learn from a fintech startup with a speedy credit approval process. ... Read full article

Property Assessed Clean Energy loans can no longer be offered in unincorporated areas of Kern County, Calif. The controversial loans, meant to promote energy efficiency, began in California and are now offered in a number of states. ... Read full article

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

Banco Santander plans to go ahead with a proposal to increase control of its U.S. subprime auto loan unit, after the business passed the Fed's stress test last month, according to people familiar with the matter. ... Read full article

ESSA Bank & Trust has successfully worked with a federal program that helps former prisoners in some eastern Pennsylvania towns get back into society, and it plans to expand the program to the Philadelphia market. ... Read full article

With traditional mortgage lending opportunities becoming increasingly scarce, banks in Seattle and Portland are loading up on jumbos, diving into multifamily and reviving dormant bridge loan programs. ... Read full article

Klarna, the Swedish fintech that recently received a banking license, has already inspired a generation of similar fintech competitors. ... Read full article

Irvine, Calif.-based AutoGravity has received $30 million in equity financing from VW Credit, according to a source familiar with the matter. ... Read full article

A new report from the American Bankers Association reinforces existing concerns about the ability of U.S. consumers to manage all of their debts. ... Read full article

Net interest margins are on the rise and banks have the green light to return more capital to shareholders, but commercial lending and consumer credit quality remain trouble spots. ... Read full article

The New York-based company saw its fortunes fade after riding an earlier wave of investor enthusiasm about marketplace lending. ... Read full article

LendUp is seeking to differentiate itself from competitors by making fast loan decisions and designing its customer experience around the mobile phone. ... Read full article

Even with card defaults ticking up slightly, regional banks remain committed to pursuing more credit card business as they look to both diversify their balance sheets and deepen relationships with customers. ... Read full article