- Senate Moving to Extend Mortgage Debt Forgiveness Act
American Banker 02 Apr 2014
Senate Finance Committee Chairman Ron Wyden (D-Ore.) on April 1 introduced a tax bill that would renew the Mortgage Debt Forgiveness Relief Act for two years. The provision, which expired Jan.
- Overdraft Fees at Banks Hit High, Despite Curbs
Wall Street Journal 02 Apr 2014
The estimated median overdraft fee reached a record $30 last year -- up from $29 in 2012 and $26 in 2009, according to a Moebs Services poll of 2,890 banks and credit unions.
- Va. Corporations Settle Title Loans Suit for $1.2 Million
Herald-Mail Online 02 Apr 2014
In a $1.2 million settlement, Virginia title loan companies Fast Auto Loans Inc. and Virginia Auto Loans have agreed to pay West Virginia $450,000 over allegations that they abused and harassed ...
- Payday Loan Bill Moves to Senate
New Orleans Advocate 02 Apr 2014
A Louisiana Senate committee has dramatically altered Senate Bill 84, a proposal by Sen. Ben Nevers (D-Bogalusa) to make payday loans more affordable and limit the amount of interest that can be ...
- Consumer Complaints Jump 80 Percent in 2013: CFPB
American Banker 01 Apr 2014
Americans inundated the Consumer Financial Protection Bureau with 160,000 grievances in 2013, almost 80 percent more than in the previous year, the regulator revealed in a report issued on March 31.
- Reloadable Prepaid Cards Highly Favored
ABA Banking Journal 01 Apr 2014
A new survey conducted on behalf of the American Bankers Association finds that many American adults believe the features of reloadable prepaid cards are especially beneficial to consumers.
- Predators Target Homes of Older Americans
AARP 01 Apr 2014
A growing number of home foreclosures are tied to delinquent taxes instead of delinquent mortgage payments, reports the National Consumer Law Center.
- Architect of Postal Banking Proposal Speaks Out
American Banker 31 Mar 2014
While the U.S. Postal Service (USPS) already offers domestic money orders and global money transfers, a paper released in January proposes to greatly expand its menu of financial services to reach ...
- Payday Loan Reform Still a Possibility
Albuquerque Journal 31 Mar 2014
New Mexico legislators have proposed a constitutional amendment that would limit total charges on all short-term loans to an annual percentage rate (APR) of 36 percent.
- CFPB Issues TILA-RESPA Compliance Guide
Housing Wire 31 Mar 2014
The Consumer Financial Protection Bureau has put together a manual to help lenders comply with the Integrated Disclosure Rule, which consolidates the Truth in Lending Act (TILA) and the Real Estate ...
- Fannie Mae to Fine Mortgage Servicers
Housing Wire 30 Mar 2014
Beginning on May 1, mortgage servicers that submit loan reports that are behind deadline or inaccurate could incur a penalty from Fannie Mae.
- Controversial FHA Payoff Rule to End
Los Angeles Times 30 Mar 2014
For years, if an FHA mortgage was paid off before maturity, at closing the borrower would be expected to pay up a full month's interest.