- Companies That Offer Help With Student Loans Are Often Predatory, Officials Say
New York Times 14 Jul 2014
The explosion of student loan debt in the last decade has spawned a new source of customers for the debt settlement industry, which traditionally has targeted credit card and mortgage borrowers.
- Dive in Minority Lending Puts Pressure on Fannie-Freddie
Bloomberg 14 Jul 2014
Blacks and Latinos represent a fast-growing segment of the U.S. population; yet, their number among conventional mortgage borrowers is declining.
- HOPE NOW Assisted 37,000 Struggling Borrowers in May
Housing Wire 14 Jul 2014
HOPE NOW reports that about 37,000 homeowners were granted permanent mortgage workouts in May, with roughly 25,000 receiving assistance through proprietary initiatives and just shy of 12,000 ...
- CFPB Sues Law Firm Behind Debt Collection Lawsuits
Washington Post 14 Jul 2014
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Georgia-based Frederick J.
- Mortgage Insurers Warn Financial Requirements Could Boost Costs for Borrowers
Wall Street Journal 14 Jul 2014
The latest financial requirements proposed by Fannie Mae and Freddie Mac for private mortgage insurers could boost costs for low- and middle-income borrowers, insurers warn.
- Oklahomans Are Using Fewer Payday Loans
NewsOK 14 Jul 2014
The payday lending business has declined in the state since surging in 2011, the Oklahoma Department of Consumer Credit has found.
- CFPB Clarifies How Same-Sex Ruling Affects Lending Rules
American Banker 14 Jul 2014
The Consumer Financial Protection Bureau has issued new policy in response to the Supreme Court's decision last year to ensure rights for same-sex spouses.
- More Homeowners Are Tapping Their Home Equity
Wall Street Journal 13 Jul 2014
Home equity lending has returned to levels not seen since 2008, Equifax reports.
Attracted by the lower interest rates that lenders are dangling in front of them, borrowers are using ...
- Payday Loan Case Showcases Brutal Interest Rates in an Industry Under Fire
Kansas City Star 12 Jul 2014
Online lender Geneva Roth Ventures Inc., based in Mission, Kan., and its CEO have faced legal issues in recent years that illustrate the controversial tactics used by such companies and the increased ...
- CFPB Targets Mini-Correspondent Divisions
Housing Wire 11 Jul 2014
The Consumer Financial Protection Bureau is focusing on a possible loophole that its qualified mortgage rules have possibly created for lenders.
- Missouri Governor Vetoes Payday Loan Legislation
St. Augustine Record 11 Jul 2014
Missouri Gov. Jay Nixon has vetoed a bill that would have re-written the state's payday loan laws. He called the newly proposed limits an industry-backed “sham” that fell short of ...
- Homeowners Get $3.1 Billion in Pact With Mortgage Banks
New York Times 08 Jul 2014
U.S. homeowners have received a collective $3.1 billion to compensate them for improper foreclosures, according to a new Federal Reserve report. Of 4.
- The Big Benefits of Postal Service Banking
U.S. News and World Report 07 Jul 2014
About 68 million Americans depend on nonbank financial services, such as check cashing or payday lending, because they have been shut out of traditional banking, writes Sen. Elizabeth Warren (D-Mass.
- FTC Warns Seniors, Military Members About Pricey Pension Advances
Cleveland Plain Dealer (OH) 04 Jul 2014
The Federal Trade Commission (FTC) recently issued a warning about pension advances, which seniors and veterans can take against their future pension payments.
- 8 Tricks Up Your Auto Dealer's Sleeve
Philly.com 03 Jul 2014
Auto dealers may use a variety of tactics that net them greater profit from a sale but cause consumers to pay more than necessary.
- HSBC Settles Fraud Charges Over Foreclosure Fees Paid by the U.S. Government
New York Times 02 Jul 2014
HSBC will pay $10 million to settle a civil fraud case involving foreclosure fees paid by the U.S. government.
- Miss. Payday Lending Company Investigated
Jackson Clarion-Ledger (MS) 02 Jul 2014
The Mississippi Department of Banking and Consumer Finance is investigating potentially illegal practices at payday lender All American Check Cashing Inc.
- 7 Banks Sue Cities Over Foreclosure Rules
Associated Press 02 Jul 2014
Ordinances designed to curtail foreclosures in the Massachusetts cities of Lynn and Worcester have come under attack by the industry.
- U.S. Regulators Warn Banks on Home Equity Loan Defaults
Reuters 01 Jul 2014
Banks should work with borrowers to avoid massive defaults on home equity lines of credit taken out during the housing bubble, according to U.S. regulators.
- Court Halts Collection of $3.5 Million in Allegedly Fake Payday Debts
ACA International 01 Jul 2014
A U.S. district court, petitioned by the Federal Trade Commission (FTC), has shut down a Georgia-based outfit that allegedly used deception and threats to collect $3.