Banking

While they won’t be in position to enact legislation, House Democrats could use their newfound power to spotlight issues that Republicans have largely ignored, including the exploding levels of corporate debt.

The Loan Syndications & Trading Association wants to introduce “delayed compensation” for brokers who have to wait too long to take possession from agent banks.

As the FDIC considers reforms to its brokered deposit rules, the agency should recall the problems these funds caused in the lead-up to the S&L crisis, argues former Chairman William Isaac.

S&P considers the $1.034 billion lease securitization among the "most diversified" in lease-end concentrations, limiting the impact of future declines in residual values as cars come off lease.

Flagship, Santander Consumer USA and AmeriCredit are printing $2.3 billion in new notes backed by subprime auto-loan originations.

The passage of Proposition 111, which also prohibits lenders from adding origination and monthly maintenance fees, makes Colorado the fifth state to impose caps on payday loans through a voter referendum.

The midterm elections virtually eliminate the chance that progress will be made on financial services legislation.

The San Francisco company, which has racked up big losses over the last two and a half years, signaled Tuesday that it is on a path to profitability after resolving a series of longstanding regulatory problems.

The New York-based online lender plans to spend an additional $15 million next year, largely on bank partnerships and international expansion.

Both Kroll and S&P expect losses on collateral in the subprime consumer lender's latest deal to be higher than its 2017 deals; Kroll alone assigned a lower rating to the senior tranche.

Marlette sharply reduced the share of sub-700 FICO borrowers, while also tightening a trigger tied to cumulative loss rates to enhance investor protections.

The deal comes a year after the captive finance company began excluding low-FICO loans from its primary auto loan ABS platform.

It's the first time any of the rating agencies has assigned an AAA for any securitization of consumer loans by a marketplace lender.

Margaret Keane discussed Synchrony's investments in technology, including how the card issuer plans to use customer data to help retailers create targeted ads, during an appearance Tuesday in New York,

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.

Sales of older vehicles are on the rise and prices are headed back up, so there's more collateral available and it is also performing better.

The Federal Reserve is getting more concerned about risks from the leveraged loan market, with a key official saying it's now taking a "closer look" at whether banks are chasing deals without adequately protecting themselves against losses.

In a move designed to improve access to financial products for consumers with low credit scores and short credit histories, Experian, FICO and Finicity are developing an "UltraFICO" score that lets individuals share checking and savings account data and help lenders better assess risk.

Both S&P and Moody's have cut expected losses on $732 million deal, yet credit enhancement on the senior tranches is unchanged from the prior deal.

The credit quality of loans backing the Cailfornia-based lender's $183 million securitization is better than that of its inaugural deal, which was only rated 'A' by Kroll.