Banking

The industry’s turmoil, including 'strategic options' being pursued by corporate debt obligors like Transocean and Seadrill, has sparked the biggest wave of restructurings since 2017, when the effects of the last oil price downturn reverberated through the industry.

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.

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates.

Alternative lenders like Apollo, Ares and HPS are increasingly providing larger loans to borrowers, and potentially taking away share from the leveraged loan and high-yield bond markets.

The global pandemic and stalled trade negotiations have discouraged farmers and ranchers from taking on more debt and made banks uneasy about extending more credit.

Besides reauthorizing the Paycheck Protection Program, Congress should upgrade the loan forgiveness process, offer businesses the chance to take out a second loan and ensure the pricing satisfies lenders, bankers say.

Community bank earnings are usually easy to understand, but loan deferrals and modifications as well as the complexities of the Paycheck Protection Program are skewing financial statements.

No two properties are alike, so lenders are tailoring their approaches for modification, forbearance and repayment of loans to a sector devastated by the pandemic.

The Conference of State Bank Supervisors, banking law scholars and consumer advocacy organizations filed amicus briefs siding with the New York State Department of Financial Services in its court battle with the federal regulator.

From guidelines for remote appraisal alternatives to the ways that forbearance affects borrowers' ability to get new loans, here are five examples of mortgage requirements that have been in flux since the coronavirus outbreak in the United States.