Consumer lending

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.

Citigroup spent years reeling in customers with promotional rates, many of which have expired or soon will. The bank thinks it can keep a large number of those customers and make more money off of them.

The California-based CDFI has a growing portfolio of renewal loans from prior borrowers eligible for higher credit limits.

The bureau says it lacks explicit authority to conduct routine supervision of lenders’ compliance with service member protections, but the decision has sparked pushback from the Defense Department and groups representing military personnel.

The fifth SDART deal of the year benefits from the same improvement in credit quality as other recent transactions from the platform.

Consumer Portfolio Services' fourth auto-loan securitization of the year has a 3.97% share of loans previously assigned to CPS asset-backed portfolios, compared to an 11.97% share in its last transaction.

Rising wages and savings rates resulted in a decline in past-due payments in the second quarter, the American Bankers Association said in its quarterly report on delinquency trends in consumer lending.

DriveTime is making less-risky loans under a $750 million contract purchase agreement with Ally Financial; it appears that the sponsor is also funding some of this lending through its own securitization platform.

A two-year-old lawsuit by the CFPB may be languishing, but nine members of the Teachers Federation of America sued the student loan servicing giant alleging that it misled borrowers in public service professions in order to line its pockets.

The senior Democratic lawmaker said the CFPB chief and the Trump administration "are doing everything in their power to roll back consumer protections."