News Topic: Subprime lending

Tom Marano, a former Bear Stearns banker, was apparently well compensated following the housing crisis for heading up ResCap and Ditech, both of which went into bankruptcy. ... Read full article

Gordon Sondland, the U.S. ambassador to the European Union, is often described as a hotelier from the Pacific Northwest. But he has also had a long and sometimes controversial career in finance. ... Read full article

Mission Lane, which was spun off from LendUp in December, said Monday that Shane Holdaway took the helm in August after roughly a year serving as CEO of Barclays' U.S. consumer bank. The upstart lender also announced that it has raised $200 million in ... Read full article

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. ... Read full article

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. ... Read full article

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

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 ... Read full article

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. ... Read full article

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 ... Read full article

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

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. ... Read full article

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

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. ... Read full article

The subprime online lender said Thursday that it will spin off its credit card business into a new entity, Mission Lane. It also named a new CEO to replace its founder, Sasha Orloff. ... Read full article

The agency alleges the subprime auto lender violated consumer finance laws by misrepresenting the level of guaranteed insurance protection. ... Read full article

Upturn, which is owned by a BBVA unit, is offering a free online tool consumers can use to detect and dispute inaccuracies in their credit report. ... Read full article

The Human Account, a survey of 11,500 people, is intended to inspire banks and governments to come up with better ways to help low-income people. ... Read full article

Despite recriminations about how the crisis and ensuing regulations have tightened loan access, an actual assessment of mortgage credit availability is more complicated. ... Read full article