Banking

The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability.

Under the agreement, fintechs and their bank partners will have a safe legal harbor to offer loans, as long as their interest rates do not exceed 36% and they meet various other standards.

American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

For the second consecutive month, the average extension rate in June for troubled loans due to pandemic-related stresses on borrowers shrank in both prime and subprime loan sectors.

The bank has begun briefing regulators about how it mistakenly sent payments to creditors of Revlon, the financially strapped cosmetics company. Citi has also filed a lawsuit against Brigade Capital Management seeking to recoup $175 million it sent to Brigade on Revlon's behalf.

The bank has recouped part of the payment, which it blamed on a clerical error, but some of the lenders say they were owed the money in connection with an ongoing dispute.

As the discredited Libor interest rate benchmark enters its last months, some banks are turning away from the repo-based alternative that regulators prefer. What could go wrong?

The card giant could pay $850 million in cash for the online small-business lender, according to a person familiar with the talks.

San Francisco-based Theorem is marketing its first-ever securitization of online, unsecured consumer loans culled from the LendingClub origination platform using machine-learning technology.

Conditions have improved for the first time since November.