News Topic: Lending
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Resolve raises $60 million to boost business financing
As loan demand goes up, banks at risk of letting guard down
Community bankers bullish on loan growth, torn on infrastructure plan
Banks seek bigger role in point-of-sale lending
Biggest impediment to mortgage growth? Shortage of new homes.
Signature Bank raises its bet on cryptocurrency
Why Alaska, Idaho credit unions are growing when others aren't
Data from the National Credit Union Administration shows the two states are bucking the trend of slowdowns in membership and lending. ]] ... Read full article
Achieva Credit Union surpasses $2 billion-asset mark
The Dunedin, Fla.-based institution reported an 18.8% surge in assets last year, along with substantial growth in commercial lending, thanks in part to the Paycheck Protection Program. ]] ... Read full article
Earnings surge at Texas Trust Credit Union
The Arlington-based institution made gains across several metrics in 2020, including loan growth of 22%, driven in part by the mortgage refi boom. ]] ... Read full article
Loans fell, membership and savings balances rose in January
CUNA Mutual Group's latest Credit Union Trends Report shows consumers continue to deleverage thanks to stimulus payments and cash-out refinancing, though membership picked up slightly. ]] ... Read full article
Banking regulators will let temporary capital relief expire as scheduled
The decision is seen as a setback for the banking industry, which had been pushing for and extension, and a win for Democrats, who have argued that a pandemic is no time for banks to be shedding capital. ]] ... Read full article
8 takeaways from NCUA's 4Q state-level data
A new report from the regulator shows slower growth in membership and lending, as well as a decline in the number of credit unions reporting profits. ]] ... Read full article
Bipartisan Senate bill would raise loan maturity limits for FCUs
The proposed legislation is similar to a package put forward in 2020 and another introduced in the House in 2019. ]] ... Read full article
Standard Chartered tests AI to size up young borrowers
The London bank is trying out new models that help it assess the creditworthiness of recent college graduates, and layering on software that analyzes the fairness of its credit decisions. ... Read full article
Pandemic slowed membership, lending to slowest growth rate in years
A new report from CUNA Mutual Group shows just how much COVID-19 and the economic slowdown impacted the credit union industry in 2020. ... Read full article
How long can credit unions keep the mortgage momentum going?
Home loans accounted for the bulk of the industry’s lending gains in 2020, but inventory shortages in some markets and an uneven economic recovery may dim prospects this year. ... Read full article
Lender Affirm seeks to raise up to $934 million in IPO
Affirm Holdings, which provides installment loans to online shoppers, is seeking to raise up to $934.8 million in an initial public offering, signaling last year’s record listings run is carrying over to 2021. ... Read full article
8 takeaways from NCUA's 3Q state-level data
A new report from the National Credit Union Administration showed institutions in many states are struggling with a deluge of deposits while their lending opportunities are drying up. ... Read full article
TD sees big role for AI in fraud detection, lending decisions
“If you get your credit decisions right and you manage fraud well, you can run a very efficient bank. That’s an area where AI is very applicable,” Toronto-Dominion Bank's chief AI officer says. ... Read full article