Student lending

OCC warns Wells Fargo; Mulvaney wins


Bank faces a formal enforcement action for problems in mortgages and auto insurance; Judge throws out lawsuit, although plaintiff promises an appeal.


Chase considers bitcoin; Good news, bad news for banks


Bank ponders assisting customers trading digital currency futures; banks still face challenges despite a good third quarter.


CFPB orders Citi to pay $6.5M for student loan failures


The Consumer Financial Protection Bureau on Tuesday ordered Citibank to pay $6.5 million in consumer relief and penalties for student loan servicing failures.


Deal on TBTF rules; Warning on coin offerings


Bipartisan proposal would remove the SIFI label from more than two dozen banks; European regulator cautions investors on the risks as bitcoin price plunges.


Medical residency refis may be just what the doctor ordered


Residents' low incomes usually disqualify them for standard student loan refinancings, but SoFi and other lenders describe these borrowers as strong credits with high earnings potential who could offset some of the risks lurking in student loan pools.


Additional credit rating gives CommonBond a leg up on banks


The tighter spreads on the fintech student lender's latest securitization should help offset a rise in the underlying benchmark rates, keeping its funding costs low — and helping it compete more effectively.


Discover’s profit falls in 3Q as loan losses rise


As more loans go bad across the credit card industry, the Riverwoods, Ill.-based company boosted its provision for loan losses by 51%.


Sallie Mae works to head off threat of refi lenders


While some tackle the problem by offering their own consolidation loans, Sallie Mae is developing products with extended terms that reduce borrowers' monthly payments in an effort to discourage borrowers from refinancing in the first place.


Refi gambit draws flak at student loan servicer Navient


Navient has suspended stock buybacks to buy and expand a debt-refinancing firm that faces stiff competition from fintechs, and some shareholders aren’t happy.


Defaults haunt nearly half of African-American student borrowers


Nearly half of black Americans who borrowed from the federal government to attend college defaulted on their student loans, according to new data from the U.S. Department of Education.