Student lending

Why more millennials with student debt are qualifying for mortgages


A change in the formula that banks use to calculate borrowers’ debt-to-income ratios, announced by Fannie Mae in April, appears to be spurring more lending.


Navient hit with Pa. lawsuit, adding to servicer’s troubles


The lawsuit against Navient Corp. demonstrates that despite the recent appointment of more industry-friendly regulators in Washington, financial service company still face significant legal threats from state capitals.


First Republic using student debt refis to woo millennials


The San Francisco bank has pulled in 10,000 new households with loan products geared toward young professionals.


CFPB orders private student loan trust and debt collector to pay $21.6M


The CFPB has ordered National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, to pay at least $21.6 million.


Banks see opening for return to student lending, says new CBA chief


Brad Conner, the incoming chairman of the Consumer Bankers Association, says the government's record as a direct student lender leaves much to be desired.


CEO’s sudden exit spurs big questions about SoFi’s future


Mike Cagney’s eventual successor will have to decide whether to continue his focus on rapid growth. Also on the table are strategic decisions about when to go public and whether to pursue a bank charter.


‘All your stuff is compromised’: Comments of week


Readers opine on Square’s applying for an industrial loan company charter, the Federal Reserve’s role in faster payments, assumptions about operational security, and more.


Debit cards, a trillion in debt, and millennials: What could go wrong?


It sounds like a crazy mix, but Fifth Third says its new app would help young consumers round up debit card purchases and apply the money to their burdensome student debts. The motivation to attract millennials is clear, but will it work?


Regulators are still mostly ignoring millennials


The largest generation of Americans is set to inherit over $59 trillion in assets, but the federal financial regulators are behind in hiring millennials and focusing on issues of concern to them.


Amex settles with CFPB; Japan's largest bank targets U.S.


The credit card issuer paid $95 million to settle charges it offered inferior terms to customers in American territories; Mitsubishi UFJ wants to become a top 10 U.S. bank.