- There Are More Payday Lenders in U.S. Than McDonald's
NBCNews.com 24 Nov 2014
The St. Louis Federal Reserve reports that more than 20,000 payday lending stores operate in the 36 states where the practice is allowed, easily outpacing the 14,267 McDonald's restaurants that are ...
- FHFA Announces Conforming Loan Limits for 2015
Housing Wire 24 Nov 2014
The maximum loan size for mortgages to be acquired by Fannie Mae and Freddie Mac will increase in only 46 counties next year, according to the Federal Housing Finance Agency.
- Democratic Bill Would Crack Down on Payday Loans to Active-Duty Military
WKSU.org (OH) 23 Nov 2014
Legislators in Ohio have drafted a proposal that aims to protect active-duty service members and military veterans from the shady dealings of payday lenders.
- Christian Leaders Condemn Payday Lenders Who Con the Poor, Call for New Controls
Christian Post (DC) 21 Nov 2014
Armed with information packets put together by the Center for Responsible Lending, faith leaders and like-minded activists from across the country recently descended on Capitol Hill to lobby against ...
- Credit Score Company Settles FTC Charges for $22m
Associated Press 20 Nov 2014
The Federal Trade Commission, along with the attorneys general of Illinois and Ohio, has reached a settlement with a provider of "free" credit scores.
- Payday Loan Policy and the Art of Legislative Compromise
Colorado Independent 18 Nov 2014
As the Consumer Financial Protection Bureau (CFPB) considers federal regulations for payday loans, a Colorado law could serve as a model for compromise between industry interests and consumer ...
- Colorado's Payday-Loan Experiment May Foreshadow Nationwide Changes
American Banker 10 Nov 2014
Colorado's 2010 overhaul of payday lending rules could be viewed as a model by the Consumer Financial Protection Bureau (CFPB), which is preparing to write nationwide rules for payday lending.
- Hilltop in Texas Discloses Federal Probe of FHA Lending
American Banker 10 Nov 2014
The $9.1 billion-asset Hilltop Holdings in Dallas announced that its mortgage unit is being investigated by the U.S.
- U.S. Consumer Borrowing Up $15.9 Billion to Record
Associated Press 09 Nov 2014
According to the Federal Reserve, U.S. consumers increased borrowing by $15.9 billion in September, driving up consumer debt to a record total of $3.27 trillion.
- Why Offering 3 Percent Downpayment Mortgages Is Not a Return to Lax Lending
Washington Post 07 Nov 2014
Under the federal government's latest campaign to stimulate the residential real estate market, Fannie Mae and Freddie Mac could accept mortgages with down payments as low as 3 percent.
- Student-Loan Servicers Urged to Offer More Flexibility
Wall Street Journal 06 Nov 2014
Student loan servicers continue to draw scrutiny from the regulatory community, with a high-ranking Treasury official becoming the latest critic to push for change.
- Seniors Struggling With Debt, Debt Collectors
Consumer Affairs 06 Nov 2014
Debt levels are rising for older Americans, making them an easy target for unscrupulous debt collectors, the Consumer Financial Protection Bureau (CFPB) reports.
- More Expensive Cars Are Leading to Longer-Term Loans
New York Times 06 Nov 2014
Experian Automotive reports that the average length of a new-car loan was a record 66 months, or 5.5 years, in the second quarter, the most recent period for which data is available.
- Credit Cards for College Students Can Carry Costly Fees
WRAL.com 06 Nov 2014
Consumers Union examined university-endorsed cards offered by Higher One and eight other companies, finding them rife with fees and penalties.
- Lenders Face Stiffer Penalties With New Mortgage Disclosures
American Banker 03 Nov 2014
New mortgage disclosure forms will take effect next August, and lenders that make errors or do not comply could see stricter enforcement and steeper fines.
- Fifth Third Extends Controversial Lending Program
Cincinnati Enquirer 03 Nov 2014
Fifth Third Bank is altering the terms of its early-access lending product as regulators drag their feet on new rules for short-term loans.
- Green Tree Servicing Settles Claims With Vermont AG
Legal Newsline 03 Nov 2014
Green Tree Servicing has come to settlement terms with the state of Vermont over allegations of illegal debt collection practices and other violations.
- Metro Eyes Limits on Where Payday Businesses Can Locate
Tennessean 03 Nov 2014
Payday lenders, check cashers, title loan stores, and pawn shops have enjoyed unrestricted growth in the Nashville area for years and are now heavily concentrated in low-income and working-class ...
- All Local Payday Loan Businesses Register With City
Midland Reporter-Telegram (TX) 03 Nov 2014
All payday lenders in Midland, Texas, have complied with a recent ordinance that requires them to register their business. There are 18 payday outlets locally that take in a total of $6.
- Tribes Drop Suit Over NY?s Regulation of Internet Loans
Bloomberg 01 Nov 2014
American Indian tribes have dropped their lawsuit against New York’s regulation of online lenders, saying that legal setbacks are using up "considerable resources.