- Troubling Sale of Corinthian Colleges Set to Close Today (January 12)
Public Citizen: Consumer Law & Policy Blog 12 Jan 2015
The sale of Corinthian Colleges (the for-profit college chain that operates Everest, WyoTech, and Heald) to the student loan debt collector ECMC is poised to close today. The deal has raised serious concerns about the fate of Corinthian students and whether the new entity represents a true reform for student borrowers.
- Expanding Consumer Protection in Auto Finance
Center for American Progress 12 Jan 2015
Eighty-five percent of new-car purchases and 54 percent of used-car purchases in the United States involve financing, but not always through banks or credit unions.
- Payday Lending Focus of New Bills in Legislature
El Paso Times (TX) 10 Jan 2015
Consumer advocates and some members of the Texas Legislature are preparing to pursue new regulations for the short-term loan industry.
- Churches Step In With Alternative to High-Interest, Small-Dollar Lending Industry
Washington Post 09 Jan 2015
Faith-based organizations nationwide have launched initiatives to offer an alternative to costly financial services like payday loans.
- CFPB Reviews Debt Obstacles for Service Members
ACA International 09 Jan 2015
Writing in a blog post on the Consumer Financial Protection Bureau (CFPB) website, Holly Petraeus -- assistant director of the Office of Servicemember Affairs -- emphasizes that debt can be a major ...
- Step forward for the FHA
The Hill 09 Jan 2015
Yesterday, President Obama took another important step to responsibly boost the housing market in a recovering economy.
- Interest-Only Loans Set the Bar High
Wall Street Journal 09 Jan 2015
Interest-only loans have made a comeback; but these days, they are mainly available only to affluent, jumbo borrowers and are unlikely to create the kind of problems that predicated the subprime ...
- Disparate Impact Defended
Credit Union Times 09 Jan 2015
After cases in 2011 and 2013 were settled before reaching the nation's high court, the issue of "disparate impact" is once again before the Supreme Court justices.
- FHA to Lower Fees in Bid to Aid Housing Market
Washington Post 08 Jan 2015
The FHA will reduce annual premiums on its loans to 0.85 percent of mortgage value toward the end of January, the Obama administration confirms.
- Debt Collection Scams Skyrocketing in Colorado, Attorney General Warns
7News Denver 07 Jan 2015
Consumer complaints about debt collection scams in Colorado surged 1,350 percent between 2013 and 2014, state data show.
- As Fewer Consumers Overdraw, Fees Rise
Boston Globe 07 Jan 2015
U.S. consumers are taking better care not to spend more than what is available in their checking accounts, but financial service providers have responded by jacking up the fees to cover overdrafts ...
- Payday Lending Expansion a No-Go for Now
Public News Service 06 Jan 2015
With help from the Michigan Credit Union League, which organized a statewide effort to warn the public about the drawbacks of the plan, a push to grant more leeway to payday lenders was killed in ...
- Payday Lending by Tribe Targeted by Connecticut
Bloomberg Businessweek 06 Jan 2015
John Shotton, chairman of Oklahoma’s Otoe-Missouria tribe, and two payday loan companies businesses owned by it have been hit with a $1.
- TD Bank's Overdraft-Fee Abuses Surge, Class Says
Courthouse News Service 06 Jan 2015
Although TD Bank recently paid $62 million to settle litigation over its overdraft practices, it still engages in an "egregious" scheme to maximize overdraft revenue, according to a federal class ...
- New York City Announces $1.3 Million Settlement With Debt Collection Agency
InsideARM 05 Jan 2015
New York City’s Department of Consumer Affairs (DCA) has reached a settlement with National Credit Adjusters (NCA) over debt collection on illegal payday loans.
- Warren Vows to Keep Fighting for Lower Student Loan Rates
Shelbyville Daily Union (IL) 05 Jan 2015
Sen. Elizabeth Warren (D-Mass.) has promised to renew her push to reduce costs for higher education.
“The student loan debt has become a drag on the economy,” the legislator ...
- Payday Lending Jumps in Colorado, Attorney General?s Report Says
Daily Sentinel (CO) 04 Jan 2015
An annual report by the Colorado attorney general’s office found that more than 165,000 state residents owed an aggregate $56 million to payday lenders at the end of 2013.
- New Home Loan Helps Lower-Income Borrowers Build Equity Quickly
Los Angeles Times 02 Jan 2015
The wealth-building home loan features a dramatically reduced interest rate on a 15-year-term, allowing borrowers to buy down the rate instead of making a down payment.
- U.S. Agency Claims OC Company Running Student Debt-Relief Scam
Orange County Register (CA) 15 Dec 2014
The Consumer Financial Protection Bureau (CFPB) has lodged a complaint against IrvineWebWorks Inc. and owner James Krause, alleging that the Orange County, Calif.
- Fewer Colleges Marketing Credit Cards Could Signal Shift to Prepaid Cards
The Hill 15 Dec 2014
Although fewer colleges are marketing credit cards to students, the Consumer Financial Protection Bureau (CFPB) says this actually may not be a favorable development.