Banking

The Consumer Financial Protection Bureau received pointed pushback from banks in their public comments on a proposed rule that would slash the number of nonbanks being supervised in four key markets.

The company's advisers are sounding out lenders for new financing, which could be structured as a so-called debtor-in-possession loan to fund continuing operations if it begins the Chapter 11 process.

Banks are bracing for hundreds of millions of dollars in losses, while investors who piled into asset-backed bonds sold by the company as recently as June have seen the prices of their securities plunge.

The AI-powered auto lender is the latest fintech to debut an IPO in recent months, even as a different auto lender filed for bankruptcy this week.

According to media reports, Tricolor suspended operations and furloughed its staff, with plans to liquidate.

Origin Bancorp, Renasant Bank and Triumph Financial are the latest financial institutions to report exposure to the bankrupt auto lender Tricolor, joining a list that includes Fifth Third, Barclays and JPMorganChase.

Opposition is building against a bipartisan bill that would raise deposit insurance for business accounts, with increased deposit insurance premiums a chief concern.

The Consumer Financial Protection Bureau has released a packed agenda centered on rewriting rules ranging from small business lending to open banking while rescinding several rules finalized under the Biden Administration last year.

Orlando-based Cogent Bank has hired a team to finance single-tenant net lease properties, an asset class characterized by exceptional credit quality.

The development bank's finance arm has bundled up exposures in loans it made to 57 companies across regions like Eastern Europe, South America and Asia, in a first for the bank.