Banking

Wells Fargo & Co. is considering whether to jump-start its shrinking student-lending business by catering to borrowers holding U.S. government loans.

The bureau is expected to choose an option that could trigger court challenges after a judge yet again refused to halt the rule’s compliance date.

Westlake's $800 million offering features increased exposure to loans sourced through a relationship with Ally Bank; CAC's $398 million deal is notable for having less seasoned collateral.

The marketplace lender recorded an impairment charge tied to the acquisition of a specialty lending business and is still being hit with costs stemming from the scandal that toppled its previous CEO.

The online small-business lender was aided by loan growth, wider margins and stable credit trends. Its shares surged by 25% after second-quarter earnings were announced.

Conn’s has increased the credit enhancement on its latest consumer loan securitization to account for rising losses on its managed portfolio, according to rating agency presale reports.

Toyota Financial Services has promoted a company insider to replace Mike Groff, who is retiring at the end of this month.

If President Trump’s tariffs on steel and other products stay in place long, big U.S. importers would be hurt and pass on the pain to their midsize and small-business suppliers — which are the bread and butter of commercial lending.

Loans backing the $1.2 billion AmeriCredit Automobile Receivables Trust 2018-2 have the highest weighted average FICO score in the history of the platform.

The industry group wants the FDIC to reject an ILC request from student lender Nelnet and impose a two-year ban on future applications.

The bulk of the collateral, 59.6%, was acquired from Impac Mortgage Corp., a lender with a long track record; the remainder, 40.4%, from Sprout Mortgage Corp., a relative newcomer.

The Trump administration is making more than 80 recommendations to encourage financial innovation within a regulated space, including endorsing the creation of a federal fintech charter.

As a result of the forward flow agreement, Kroll has increased expected recoveries, allowing Upstart to lower credit enhancement on its next securitization.

Allowing alternative data such as rent and utility payments has bipartisan support, but some say it could create more problems than it solves.

The Stamford, Conn., issuer of store credit cards has two potential options after the retail giant chose to partner with Capital One. But the decision over which path to take is out of its hands.

A ruling involving a Cleveland law firm casts doubt on CFPB claims that attorneys misrepresent their role to consumers.

The credit quality of the initial collateral pool is similar to that of United Auto Credit Corp.'s previous transaction, but the performance of the lender's managed portfolio of subprime loans is improving.

Jack Remondi issued a direct call Wednesday for the agency to drop its lawsuit against the student loan servicer. “You’ve had five years to look for your evidence, you’ve found none,” he said.

Kroll Bond Rating Agency says the riskiest notes issued in the 2016 transaction are at “substantial risk of loss,” following on the heels of a similar move by S&P last week. Kroll also put a more senior class of notes under review for a possible downgrade.

The Federal Housing Finance Agency is suspending its ongoing review of new credit scoring models and will instead move forward with creating a regulatory framework for providers of alternative credit scores to apply and be evaluated for use by Fannie Mae and Freddie Mac.