Labor shortage crimps demand for commercial loans, bankers say
Many business customers are putting off expansion because they can’t find enough workers to fill available jobs.
Practice management
Kabbage will buy small-business data provider
The acquisition of Radius Intelligence fits with the online lender's existing focus on small commercial borrowers.
CFPB says Chicago debt collector made bogus threats against consumers
Asset Recovery Associates told borrowers that it could sue them, garnish their wages and place liens against their homes, according to a consent order by the consumer bureau.
Former FDIC chair joins Fannie Mae’s board
Sheila Bair, who holds board seats at several other organizations, will sit on Fannie's compensation, corporate governance and risk policy committees.
Angel Oak adds non-QM prequal tool for third-party originators
Angel Oak is now offering mortgage brokers and correspondent loan sellers a prequalification tool to determine borrower eligibility for non-qualified mortgages.
GreenSky exploring potential sale after earnings disappoint
The Atlanta fintech, whose shares have plummeted since it went public last year, also said it will stop providing financial guidance to its investors.
The Bancorp’s risky CRE pivot
The Delaware company, best known for issuing prepaid cards, has ramped up commercial real estate securitizations. The shift promises to deliver big fees, but it could also cause headaches if defaults spike.
Santander Bank names longtime MUFG Union executive its CEO
The hiring of Tim Wennes was one a series of leadership changes announced Wednesday by the holding company for the bank and the auto lender Santander Consumer.
As CFPB mulls privatizing database, consumer complaints mount
The Consumer Financial Protection Bureau received over a quarter-million complaints in 2018, according to analysis by an advocacy group that urged the agency to maintain public access to its database.
CFPB plan a mixed bag for debt collectors
The long-awaited proposal includes safe harbors to protect collectors from getting sued, but would restrict phone collection attempts and allow borrowers to opt out of receiving other communications.
‘If the product is good, it should sell itself’: A Q&A with Earnest’s CEO
Susan Ehrlich, the fintech lender's new chief, discusses what she learned working at Amazon and Simple and how her firm is approaching consumer loans differently.
Online lender Marlette reports profit, then takes jabs at the competition
As the consumer lender announced its seventh consecutive profitable quarter, its CEO bragged that his company is better positioned than the likes of Goldman Sachs and LendingClub.
SBA plays catch-up as threat of another shutdown looms
Lenders are glad the agency worked swiftly through a backlog of paperwork, but they're worried funds will get cut off if the government closes again.
Alternative lenders try to fill void left by shutdown
The tricky part: raising awareness without appearing to take advantage of borrowers at a time when agencies like the SBA are out of commission.
SBA’s biggest lender is overhauling its business model
Live Oak Bancshares became an SBA juggernaut by making loans, selling them and making more. With economic conditions changing, it is retaining more credits.
New Penn to become NewRez in 2019
New Penn Financial will change its name to NewRez at the start of 2019, reflecting its acquisition earlier this year by New Residential Investment Corp.
FTC puts student lenders on notice by citing misleading ads at SoFi
The Federal Trade Commission, which issued a formal complaint against SoFi, is urging other lenders to review their advertisements for false claims about the benefits of refinancing.
How working with Freddie could boost one bank’s profit
First Foundation sold loans to Freddie Mac to free up space for higher-yielding credits. It then bought the securities that were formed to replace other, lower-yielding assets through an often overlooked program.
Two servicers poised to break up student-lending oligopoly
Four lenders, led by Sallie Mae, have long dominated the market for private student loans. But they could soon face new competition from Navient and Nelnet.
For Santander’s U.S. unit, even having a growth plan is an achievement
Scott Powell, the CEO of Santander Holdings USA, has spent years contending with a host of regulatory problems. He outlined a long-range vision that includes a branch-focused retail push and possible acquisitions.
Load More
Couldn’t load more articles. Try again.