- Payday Loan Law Helps State Borrowers
Minnesota Daily (MN) 10 Mar 2014
Minnesota State Rep. Joe Atkins (DFL-Inver Grove Heights) has introduced legislation to regulate the state's payday lending industry.
- Speeding Up Vacant-Home Foreclosures Could Save Big: Fed Paper
American Banker 10 Mar 2014
A new study by the Federal Reserve Bank of Cleveland concludes that fast-tracking foreclosures in states that handle the process through the courts could lead to significant savings for all parties.
- FTC Targets Amherst Debt Collector for Threatening Consumers
Buffalo News (NY) 09 Mar 2014
The Federal Trade Commission (FTC) has shut down and seized the assets of 13 firms that used threats and fake identities to try to collect debts.
- Waterloo Mulls Zoning Clamps on Payday Lenders
WCF Courier 07 Mar 2014
In Waterloo, Iowa, new Ward 3 councilman Pat Morrissey is calling for city zoning changes as an attempt to rein in payday lenders. Such changes would limit where the lenders can set up shop.
- Lenders Use Budget Data to Lobby FHA for Lower Premiums
American Banker 07 Mar 2014
President Obama's budget reveals that the FHA has the flexibility to lower premiums, according to the Community Home Lenders Association.
- CFPB Recovers More Than $1 Million for Service Members, Veterans, And Their Families
Huntington News 06 Mar 2014
The Consumer Financial Protection Bureau (CFPB) on March 6 announced that U.S. service members, veterans, and their families who complained to the agency about financial products or services have ...
- New York Demands Data From Mortgage Firm Nationstar
New York Times 06 Mar 2014
New York State's top banking regulator, Benjamin M. Lawsky, is raising questions about the capabilities of Nationstar Mortgage Holdings.
- New Lenders Spring Up to Cater to Subprime Sector
Wall Street Journal 06 Mar 2014
New lenders are reaching out to consumers with subprime credit, a population often ignored since the financial meltdown. Equifax Inc.
- House, Senate Committees Approve Payday Loan Bills
Montgomery Advertiser (AL) 06 Mar 2014
Committees in the Alabama House and Senate on March 5 approved two bills that would place some limitations on payday lending in the state.
- BofA Rolls Out Checking Account for Chronic Overdrafters
CNNMoney (NY) 06 Mar 2014
Bank of America is pilot-testing a new option that aims to avoid overdraft fees by blocking customers from withdrawing more money than they have in their checking account.
- No Surprise Here: Credit Reports Created With Your Online Information Are Mostly Inaccurate
Consumerist 06 Mar 2014
More than 64 million Americans lack a credit history, but financial institutions are trying to determine such consumers' creditworthiness using big-data brokers.
- State Lawmakers to Consider Proposals to Add New Caps to Payday Lending Rates in Louisiana
Associated Press 05 Mar 2014
In Louisiana, legislation sponsored in the state House by Rep. Ted James (D-Baton Rouge) and in the upper chamber by Sen.
- Subprime Auto Boom Besieged by Late-Payment Jump
Bloomberg 05 Mar 2014
A three-year lending boom to car buyers with flawed credit that helped push auto sales to a six-year high is starting to show signs of overheating.
- Pay Day Loan Reform Bill May Return
Montgomery Advertiser (AL) 04 Mar 2014
Alabama lawmakers are planning to revive a proposal to regulate payday lending in the state. The House Financial Services Committee is scheduled to revisit legislation sponsored by Rep.
- Credit Card Breaches: Are Consumers out of Luck?
CBS News 04 Mar 2014
Although recent cyber-security attacks at major retailers like Target have received national media attention, less well-known security breaches have occurred in recent years.
- Judge Shuts Down 13 Debt Collection Companies for Strong-Arm Tactics
Denver Post 04 Mar 2014
U.S. District Court in Buffalo, N.Y., has issued a temporary restraining order preventing at national network of debt collectors from doing business while the Federal Trade Commission looks deeper ...
- Americans Borrowing Record Amount to Buy Cars
CNBC News 04 Mar 2014
Americans are borrowing a record amount to pay for their cars, due in large part to a combination of higher prices for new cars and relatively low rates for auto loans.
- Taking Risk, Credit Unions Push Student Loans
Boston Globe 03 Mar 2014
Credit unions have expanded into the private student loan market as a means of attracting younger customers and higher returns, but regulators are increasingly concerned about the risks involved in ...
- Student Loans Entice Borrowers More for Cash Than a Degree
Wall Street Journal 03 Mar 2014
Some Americans caught in the weak job market are lining up for federal student aid in order to take out low-cost loans, sometimes with little intention of getting a degree.
- PNC Under Investigation for FHA, Fannie, Freddie Mortgages
Housing Wire 03 Mar 2014
The U.S. Attorney's Office for the Southern District of New York has subpoenaed PNC Bank in connection with allegations of faulty lending practices at National City Bank.