Lenders without border walls


Some fintechs have figured out how to provide international students and immigrants with credit cards and loans. Machine learning makes the underwriting possible.


Facebook will block loan, housing ads seen as discriminatory


As part of a settlement with the National Fair Housing Alliance and the American Civil Liberties Union, the social media platform will no longer allow certain advertisers to target users by age, gender or ZIP code.


CFPB orders State Farm Bank to improve credit reporting practices


The banking subsidiary of the Bloomington, Ill., insurer must stop providing inaccurate information to the credit bureaus under a consent order.


Banks seek new blood to fill evolving CRO role


Turnover of chief risk officers is on the rise as CEOs look to add executives whose experience goes far beyond assessing credit risk. Sometimes they are promoting from within, but often they are poaching talent from rival banks.


CIT shuffles leadership of risk unit


The New York company on Friday promoted Wahida Plummer, who was previously in charge of regulatory matters, to chief risk officer and expanded the role of its chief credit officer.


Fintechs find another untapped market: New immigrants needing credit


For many newcomers to the U.S., establishing credit is a big challenge. A handful of entrepreneurs are developing tools to help verify their financial histories.


MoneyLion, a personal finance startup, raises $42M


The New York company, which offers loans and provides personal finance advice, plans to expand its product line and invest in new technology with the funds.


Fallout from Equifax breach will hit banks hardest


Not only will banks be on the hook for counterfeit loans to identity thieves, but they will likely lose loan volume, and ultimately revenue, from changes in consumer behavior.


Crowdfunding platform expands into small-business lending


The five-year-old company is offering lines of credit to early-stage consumer brands, which can often only get financing at high interest rates.


Credit card issuers face peril from rise in store closures: Report


Synchrony Financial and Alliance Data Systems are particularly vulnerable to recent shifts in Americans’ shopping habits, according to new research from Moody’s Investors Service.