While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.
From scams to watch out for to the role banks play in an SBA virus loan program, news about the pandemic's impact was everywhere. Also: As State Farm bows out, U.S. Bank seizes an expansion opportunity; CFPB sues Fifth Third for allegedly opening phony accounts; and more from this week's most-read stories.
Total loans at Regions Financial fell slightly last year, but executives say a shift in consumer lending priorities and more aggressive C&I lending will start to pay off this year.
The online lender, which has received state approval to establish a virtual currency business, can now offer a full range of investment services — including trading in digital assets — in New York.
The San Francisco fintech company has agreed to pay a $110,000 fine for failing to comply with a 2017 state law that requires mortgage servicers to be licensed.
