- Judge Shuts Down 13 Debt Collection Companies for Strong-Arm Tactics
Denver Post 04 Mar 2014
U.S. District Court in Buffalo, N.Y., has issued a temporary restraining order preventing at national network of debt collectors from doing business while the Federal Trade Commission looks deeper ...
- Credit Card Breaches: Are Consumers out of Luck?
CBS News 04 Mar 2014
Although recent cyber-security attacks at major retailers like Target have received national media attention, less well-known security breaches have occurred in recent years.
- PNC Under Investigation for FHA, Fannie, Freddie Mortgages
Housing Wire 03 Mar 2014
The U.S. Attorney's Office for the Southern District of New York has subpoenaed PNC Bank in connection with allegations of faulty lending practices at National City Bank.
- Student Loans Entice Borrowers More for Cash Than a Degree
Wall Street Journal 03 Mar 2014
Some Americans caught in the weak job market are lining up for federal student aid in order to take out low-cost loans, sometimes with little intention of getting a degree.
- Taking Risk, Credit Unions Push Student Loans
Boston Globe 03 Mar 2014
Credit unions have expanded into the private student loan market as a means of attracting younger customers and higher returns, but regulators are increasingly concerned about the risks involved in ...
- College Station City Council Joins Bryan in Regulation of Payday Loans
The Eagle (TX) 28 Feb 2014
In Texas, the College Station City Council has adopted regulations that restrict payday lenders. The state currently has no limits on fees or loan sizes from payday or auto title lenders, but ...
- Fair Housing Group Goes After Banks Failing to Maintain REO
American Banker 28 Feb 2014
The National Fair Housing Alliance has filed administrative complaints with HUD against Bank of America, U.S.
- A Call to Give Consumers Their Credit Scores Free
New York Times 28 Feb 2014
The Consumer Financial Protection Bureau (CFPB) has called on credit card companies to give customers free copies of their credit scores.
- New Home Loan Balances Overtake Foreclosures: Equifax
American Banker 28 Feb 2014
The volume of new mortgage debt is outpacing that of loans in foreclosure for the first time in more than three years, Equifax reports.
First mortgage balances grew to $7.
- The Hidden Cost of Car Loans
US News 27 Feb 2014
Car dealers are cheating buyers by failing to disclose interest rate markups.
- House Passes Bill Limiting Consumer Regulator
Wall Street Journal 27 Feb 2014
The GOP-led House of Representatives on Feb. 27 passed a bill to curtail the power of the Consumer Financial Protection Bureau (CFPB).
- U.S. Sues College Chain ITT Over Loans
USA Today 27 Feb 2014
The Consumer Financial Protection Bureau (CFPB) sued national college chain ITT Educational Services this week, accusing it of predatory lending.
- Top Debt Collection Complaints
CNNMoney 27 Feb 2014
Since it began fielding complaints about debt collection last summer, the Consumer Financial Protection Bureau has received more than 11,000 related gripes -- second in volume only to mortgage ...
- Orr Payday Lender Bill Gives Borrowers More Time
Decatur Daily News (AL) 26 Feb 2014
New legislation has been proposed to tighten control of Alabama's payday lending industry.
- Chase Becomes First Bank to Implement New, Simpler Disclosure Box for Prepaid Cards
Consumerist 26 Feb 2014
The growing popularity of prepaid debit cards has encouraged more companies to enter the industry. In response, Pew Charitable Trusts has worked out a new model disclosure box to help consumers more ...
- Discover Financial Services Faces Student-Loan Probe
Wall Street Journal 26 Feb 2014
The Consumer Financial Protection Bureau (CFPB) has launched an investigation of Discover Financial Services' student-loan business and is seeking documents and other information about the servicing ...
- The Homebuyer's Champion: A Nonprofit Lender Revives the Hopes of Subprime Borrowers
New York Times 26 Feb 2014
The Neighborhood Assistance Corporation of America (NACA) has $10 billion in funding from Bank of America to make loans on its own terms over the next decade.
- Beware of Unscrupulous Preparers Who Target Taxpayers Eager to Get a Large Refund
Washington Post 26 Feb 2014
Tax season is one of the most common times for financial fraud. Filers' eagerness to get a refund and the complexity of the tax code together provide ample opportunity for scammers.
- Elizabeth Warren: Sallie Mae May Be Hurting Borrowers, Taxpayers
Huffington Post 25 Feb 2014
Sen. Elizabeth Warren (D-Mass.) has become the latest player in Washington to scrutinize student loan giant Sallie Mae.
- Late-Payment Rate on U.S. Auto Loans Rose in Fourth Quarter
Associated Press 25 Feb 2014
Auto loan debt per borrower increased 4.4 percent to $16,769 in the final quarter of 2013 from a year earlier — the 11th consecutive quarter to post annual growth, according to the credit ...