Past due home equity loans and credit lines rose while most other consumer lending categories held steady or improved, according to new data from the ABA. Why it happened is a bit of a mystery.
The agreement is expected to solidify a lending partnership whose status had been in doubt for more than a year. But it raised as many questions as it answered.
Aura is one of the few fintechs in the nation to have a Community Development Financial Institution designation from the U.S. Department of the Treasury.
The move to add dozens of branches, many in low- and moderate-income neighborhoods, continues a strategic shift under retail banking chief Pablo Sanchez.
Rather than receiving a lump-sum payment from the online lender, borrowers can now choose to have the proceeds of a debt consolidation loan sent to the companies they owe.
The House Armed Services Committee approved a bill without a key provision that would allow banks a no-cost presence on military installations, a privilege some credit unions currently enjoy.
Despite renewed calls from Democrats looking to USPS to offer banking services, policymakers should instead consider reforms that would permit private-sector firms like Walmart and Amazon to offer a wider array of financial products.
The digital bank is a whole new line of business for Goldman, meaning there's no risk that it is cannibalizing from the main institution, said Omer Ismail, the head of the bank's U.S. consumer business.
It’s the one consumer loan category where balances continue to fall, and disruption from nimbler fintechs is a big reason why. To win back market share, banks will need to beat the upstarts at their own game.
