Subprime lending

N.Y. Fed close to filling market ops spots; Subprime auto-backeds rev up

11/26/19

The Bank is poised to pick two people to handle Simon Potter’s former job; Securities backed by subprime U.S. car loans are “going gangbusters.”

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Subprime mortgages keep minting cash for ex-Bear Stearns banker

11/11/19

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.

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Ambassador at center of impeachment probe has deep roots in lending

10/18/19

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.

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Subprime card lender introduces ex-Barclays exec as CEO

09/16/19

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 equity funding.

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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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