Retailers score latest win in fight to allow credit card surcharges
Merchants have been challenging surcharge bans in numerous states on free-speech grounds. They have the wind at their backs following another court victory on Wednesday.
Consumer banking
Dime in N.Y. lowers CRE concentration with multifamily securitization
The $280 million securitization is also expected to boost capital levels and lower Dime's loan-to-deposit ratio.
Seeking bigger U.S. presence, Barclays joins crowded online lending market
The British banking giant has been testing its new online lending platform with a handful of its U.S. customers and plans to roll it out in full force next year. It's all part of a broader effort to expand its U.S. consumer business beyond credit cards.
Wells Fargo fires head of consumer lending
The San Francisco company said Friday that it has terminated Franklin Codel, effective immediately, over an interaction he had with a former employee regarding that employee's termination.
LendingClub’s pullback amplifies consumer debt-load worries
The San Francisco firm is the latest U.S. lender to tighten credit standards amid concerns that consumers are shouldering too much debt.
How banks can beat digital lenders at their own game
Amid the rise of online lending earlier this decade, banks were derided as being too slow to adapt. But over time it's become clear that banks hold key advantages over lending startups.
Amazon’s grocery expansion a threat to CRE, banks fear
With online retailers beginning to challenge the dominance of brick-and-mortar grocery stores, CRE loans to strip mails anchored by them look riskier.
By
Andy Peters
Santander Consumer names new CFO in latest shake-up
The Dallas subprime auto lender named Juan Carlos Alvarez de Soto CFO on Friday. He succeeded Ismail Dawood, who had been CFO since December 2015 after working at Bank of New York Mellon.
By
Andy Peters
Online lending is ‘natural evolution of banking’: OCC’s Noreika
Acting Comptroller of the Currency Keith Noreika on Monday gave a ringing endorsement to online lenders seeking to expand into banking, suggesting they should consider taking deposits and seek out national bank charters as they mature.
Houston-area mortgages, auto loans expected to take big hits
Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.
Flagstar profit off 13% as fee income falls
The Michigan company had fewer gains from loan sales. It also reported an increase in noninterest expenses.
PACE loans take a hit on their home turf
Property Assessed Clean Energy loans can no longer be offered in unincorporated areas of Kern County, Calif. The controversial loans, meant to promote energy efficiency, began in California and are now offered in a number of states.
Auto finance startup gets a boost from Volkswagen
AutoGravity of Irvine, Calif., has received $30 million in equity financing from VW Credit, according to a source familiar with the matter.
Credit unions cleared to securitize loans, amplifying threat to banks
The NCUA is letting federal credit unions securitize and sell assets. Such transactions would free up capital at credit unions, allowing them to make more loans.
When fintech meets CRA: SoFi bank bid draws activists’ ire
The online lender, which focuses on high-earning millennials, is offering assurances that it will also serve Americans who make less money. But the company has not convinced critics, who say the plans are inadequate.
