News Topic: Consumer lending

Upgrade, an online lender started by former Lending Club CEO Renaud Laplanche, will tout credit monitoring and education features to stand out in a crowded field. ... Read full article

New data from the American Bankers Association is the latest warning sign for the sector ... Read full article

Titi Cole succeeds longtime executive Jerry Enos. ... Read full article

Speaking at a town hall event in Washington, D.C., JPMorgan Chase CEO Jamie Dimon said that post-crisis regulations have made mortgages too costly for consumers — and made homeownership unattainable for borrowers with low incomes or blemished credit ... Read full article

The Newport Beach, Calif.-based company uses artificial intelligence to help lenders make better decisions about borrowers’ creditworthiness. ... Read full article

JPMorgan Chase & Co.’s head of new technologies has been hired by LendingClub Corp. as the peer-to-peer lending pioneer seeks to rebuild business following a scandal over its corporate controls. ... Read full article

New research from the New York Fed confirms a lingering worry for the banking industry: More prime-age, college-educated borrowers are delaying the decision to take out their first mortgage as they focus instead on paying off their student loans. ... Read full article

The payments giant has made a lot of money issuing loans to online shoppers with blemished credit histories. But now it is looking to reduce its risks. ... Read full article

The subprime auto lender funded loans through a group of car dealers that it knew had track records of high default rates and fraud, authorities in Massachusetts and Delaware said. ... Read full article

Wells Fargo engaged in an "extensive and pervasive pattern" of discriminatory and illegal lending practices for years, the OCC said in slashing a key rating of how the bank serves communities. ... Read full article

The Ollo card has the backing of former Citi CEO Vikram Pandit and several other big names in finance. ... Read full article

By bending over backwards when borrowers trade in an older car for a new one, lenders are said to have embarked down an unsustainable path. The warning, by Moody’s, adds to concerns about credit quality in auto lending. ... Read full article

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms. ... Read full article

The regulator said that Santander has not made sufficient progress in complying with a 2015 enforcement order. ... Read full article

In a further illustration of weakness in the auto sector, Ally Financial said Tuesday that its 2017 profits will likely be dinged by rising delinquencies on subprime auto loans, as well as by falling used-car prices. ... Read full article

Experian and Finicity have released a product that aims to speed up decisions on mortgage applications, using financial data aggregation technology. ... Read full article

Bankers and housing advocates say many low-income housing projects simply won't get built if the White House and Congress move to eliminate two federal block grant programs. ... Read full article

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