Banks Paused Tightening in Q4
Many U.S. financial institutions left loan standards unchanged for business and real estate credits, as demand weakened.
Ally Financial’s Takeover of CardWorks Called Off
The companies agreed to terminate the $2.7 billion deal, citing the "unprecedented" impact of the COVID-19 pandemic.
Fintech Lender Settles with SEC for Overstating Investor Returns
Marketplace lender Prosper overstated annualized net returns to more than 30,000 investors for nearly two years.
LendingClub Accused of Hiding Upfront Fees
The FTC says the lender collected “hundreds or even thousands of dollars” as an upfront fee while telling consumers it charged "no hidden fees" on loans.
Consumer Loans Drive JPMorgan Earnings Beat
The bank reports average core loans rose 8% in the third quarter, offsetting a 27% drop in fixed income trading revenue.
U.S. Banks See Slower Loan Growth, Higher Charge-Offs
However, a higher federal funds rate boosted net interest income at large banks, leading to a 12.7% rise in profits.