Refi boom is over, but home equity demand could pick up slack
With home values — and interest rates — rising, homeowners finally seem ready to tap into their homes' equity to fund long-delayed home-improvement projects. ... Read full article
News Topic: Consumer lending
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Credit woes hit Santander Consumer's bottom line
The auto lender also said originations fell 24% due to intense competition. ... Read full article
Auto finance (finally) shifts into the digital age
A deal between Ford Motor Credit and a San Francisco-based startup will give car buyers the option of customizing their own loan terms. ... Read full article
Discover’s profit jumps 13% jump on surge in consumer lending
Strong loan growth was partially offset by rising delinquencies in its flagship credit card business, as well as in student and personal loans. ... Read full article
Growth in credit card balances boosts profit at Synchrony Financial
The Stamford, Conn., credit card issuer reported net income of $576 million, up 5.3% from the same period a year earlier. ... Read full article
$100M in debt financing for Texas-based online lender
BorrowersFirst said its new financing will come from Waterfall Asset Management, a New York firm that focuses on high-yield investments. ... Read full article
JPMorgan says it has settled U.S. bias suit over mortgages
JPMorgan Chase & Co. agreed to pay $55 million to settle U.S. allegations of racial discrimination in home loans through mortgage brokers, leading black and Hispanic borrowers to pay higher interest rates and fees from 2006 to 2009, a person familiar ... Read full article
Lesson from 4Q: Optimism about banks is far ahead of reality
JPMorgan Chase, Bank of America and PNC reported lackluster revenue growth as higher trading fees and increases in commercial lending barely compensated for consumer-side challenges. ... Read full article