Subprime lending

Banks hail Volcker Rule change; Subprime mortgages are back

08/21/19

The FDIC and the OCC relax the rule restricting proprietary trading; home buyers with bad credit, lots of debt, or employment issues are again getting loans.

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Small-dollar lending fintech attracts Prudential backing

06/25/19

Aura is one of the few fintechs in the nation to have a Community Development Financial Institution designation from the U.S. Department of the Treasury.

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New York moves to ban confessions of judgment for out-of-state loans

06/21/19

New York lawmakers took steps to prevent predatory lenders from using the state's court system to seize the assets of small businesses nationwide.

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Santander’s U.S. units not out of woods yet

06/03/19

Santander Bank and Santander Consumer USA have put many problems behind them in recent years under CEO Scott Powell, but he still has a Federal Reserve enforcement action to resolve and is negotiating with Fiat Chrysler to preserve a crucial auto lending relationship.

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Uber enters leasing pact for borrowers who can’t secure auto loans

05/30/19

Uber Technologies Inc. is going nationwide with a program that helps those without a car — or the financial means to get one — drive for the ride-hailing giant.

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Avant to pay $3.85M to settle allegations of deceiving borrowers

04/15/19

The Federal Trade Commission accused the online lender of numerous violations in connection with its loan servicing practices. In one example, Avant allegedly informed customers that they could make payments by credit card or debit card but then refused to accept such payments.

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Rivalry between two Silicon Valley lenders turns personal

03/14/19

Seven years after James Gutierrez left Oportun Financial and started a competitor, the acrimony sparked by the divorce is coming into public view.

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Large banks assuming more risk in auto lending

02/12/19

New research from the New York Fed found that banks with more than $50 billion of assets originate more subprime car loans than small banks and credit unions do.

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Shorter terms, higher rates: How CECL could upend lending

02/04/19

Bankers weigh their options in mortgage and CRE lending as implementation of a new accounting standard nears.

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Auto lenders upbeat amid fears credit cycle will sputter

02/01/19

Executives from Ally Financial and Santander Consumer USA gave rosy outlooks this week about 2019 consumer trends, while other banks that rely less heavily on car lending offered more cautious appraisals.

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