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.
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.
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.
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.
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.
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.
“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.
