- Borrowers Could Suffer in Servicing Transfers, CFPB Warns
American Banker 20 Aug 2014
A bulletin from the Consumer Financial Protection Bureau (CFPB) is warning mortgage servicers that they could face repercussions if consumers are harmed when servicing rights change hands.
- Like Payday Loans, Lawsuit Loans Increasingly Coming Under Fire
Huffington Post 20 Aug 2014
As consumer advocates and lawmakers become increasingly critical of payday loans, some of that attention is likely to turn to lawsuit lending.
- More Car Buyers Are Struggling to Make Payments
NBC News 20 Aug 2014
A growing number of car and truck owners are have trouble making their monthly vehicle loan payments.
Experian reports that the share of auto loans that were delinquent or ended up in ...
- Proposed State Act Would Boost Consumer Protections for Military Members
Indianapolis Star 19 Aug 2014
GOP legislators have proposed the Indiana Service Member's Civil Relief Act, which aims to boost consumer protections for active-duty military personnel.
- Until Banks Settle on Single Way to Disclose Fees, It's Hard to Compare Checking Accounts
Consumerist 19 Aug 2014
A new WalletHub study concludes that banks have improved their online disclosure of checking account fees but still have a long way to go in terms of transparency.
- Helping Prevent Foreclosures
New York Times 17 Aug 2014
Emergency extension of unemployment benefits during the recession helped prevent mortgage defaults even more so than government programs that focused only on reducing monthly payments, according to ...
- Americans Borrow for Cars, Less So for Homes
Wall Street Journal 15 Aug 2014
Borrowing by Americans fell for the first time in three quarters. Total outstanding debt -- including mortgages, credit cards, auto loans, student loans, and home equity lines of credit -- declined ...
- Bigger Down Payments Add to U.S. First-Time Homebuyer Blues
Bloomberg BusinessWeek 14 Aug 2014
Prospective buyers of entry-level homes face the challenge of coming up with bigger down payments, according to data on the 25 largest metro areas compiled by Redfin.
- Payday Lending Is Big Business: What You Should Know
USA Today 14 Aug 2014
Payday lending businesses are issuing more money than ever before -- about $27 billion a year, the Center for Responsible Lending (CRL) estimates.
- Can Reengineering the Pay Cycle Disrupt Payday Lending?
American Banker 14 Aug 2014
Attempts by upstarts to provide more affordable alternatives to payday loans are tweaking the traditional pay cycle.
- Fee Scam Targeting the Military Shut Down
Palm Beach Post 14 Aug 2014
The Consumer Financial Protection Bureau has reached an agreement with USA Discounters Ltd. worth $400,000: $350,000 in refunds to military borrowers who were deceived by the company and a $50,000 ...
- Online Mortgage Firm Operating in Florida Used Bait-and-Switch to Deceive Borrowers
Palm Beach Post 13 Aug 2014
The Consumer Financial Protection Bureau (CFPB) has penalized online lender Amerisave Mortgage Corp. for promoting inaccurate interest rates and loan terms between mid-2011 and 2014.
- Menendez Demands Student Protections From Financial Traps
The Hill 13 Aug 2014
Sen. Bob Menendez (D-N.J.) is calling on the Department of Education to make sure that colleges are not using financial products to prey on students.
- A Tax-Debt Scheme Shut Down
Washington Post 13 Aug 2014
The latest action by the Federal Trade Commission (FTC) will allow it to return $16 million in refunds to more than 18,000 customers of American Tax Relief, after the company was found to be taking ...
- This Week, Look at Real Sharks: Payday Lenders
The Nation 12 Aug 2014
"Shark Week" programming on the Discovery Channel is in the news this week; but activists in states like Illinois, Iowa, and Missouri are using the theme to warn about the perils of loan sharking.
- Moody?s Tamps Down Concerns About Surge in Auto Loans
New York Times 12 Aug 2014
A new report from Moody's Analytics shows that even while the market for subprime auto loans may be bubbling, it likely will not burst.
- Student Debt Threatens the Safety Net for Elderly Americans
Bloomberg Businessweek 12 Aug 2014
A growing number of Americans aged 50 and older are carrying a burden of student loan debt -- which is growing faster for seniors than for any other age group, according to data gathered by the ...
- New York Prosecutors Charge Payday Lenders With Usury
New York Times 12 Aug 2014
A year-long investigation of payday loans has led to New York prosecutors in Manhattan bringing criminal charges against 12 companies and their owner, Carey Vaughn Brown.
- Half of Federal Student Loan Borrowers Not Paying on Time
Huffington Post 11 Aug 2014
About 51 percent of borrowers with student loans made directly by the U.S. Department of Education have fallen behind or are not making expected payments, according to data released on Aug. 8.
- Training Emphasized Way to Double Fees on Loans for All American Check Cashing
Mississippi Business Journal 11 Aug 2014
Mississippi regulators in June issued a cease-and-desist order for Madison-based All American Check Cashing to halt all activity under its “Monthly Lending Program.