- 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.
- Miss a Car Payment? N.J. Bill Would Ban Remote Kill Switch
South Jersey Times (NJ) 12 Jan 2015
New Jersey Assemblymen Paul Moriarty and Angel Fuentes have sponsored a measure that would ban the use of "kill-switch" remote shut-down technology that car dealers or loan lenders use to enforce ...
- 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 ...
- 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 ...
- 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.
- 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 ...
- 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 ...