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.
The measure assigns the CFPB the task of developing ability-to-pay standards for financing repaid through local tax assessments; it has the support of both the PACE industry as well as mortgage bankers and Realtors.
For now, performance continues to improve, but the percentage of borrowers of traditional private student loans seeking temporary payment relief rose to 2.5% fom 2.0% as a result of Hurricanes Harvey and Irma.
The move convinced Kroll Bond Rating Agency to upgrade $95 million of securities, some of which had been under review for a possible downgrade for over a year; Kroll affirmed the ratings of another $63 million of bonds.