Nonbanks’ performance amid disruptions caused by the pandemic supports growth. Moody’s increased its operating environment score for nonbank mortgage companies.
The SEC’s Investor Advisory Committee wants increased regulatory disclosures in the sector. However, an SEC commissioner questioned the utility of the proposal.
American Airlines is the latest airline to upsize a transaction tied to its mileage rewards program. United started the trend in July and Delta followed in September.
At a Senate committee hearing this week, consumer advocates called for stronger enforcement, industry representatives picked on the CFPB and Republicans and Democrats pushed different priorities.
While alternative data and artificial intelligence in the underwriting process could help reduce lending bias, consumer advocates are calling for oversight.
Mark Szczepaniak: "The uptick in nonperforming loans hasn’t been that troubling to us because historically we have always made money on these nonperforming loans and we continued to do that straight through 2020."