- Fresno City Council Votes to Put a Lid on Payday Lenders
ABC30 Action News 26 Jun 2014
The Fresno City Council has voted to limit payday lenders. City leaders have learned that Fresno's 66 existing payday lenders may be hurting the local economy by imposing interest rates topping 400 ...
- Amarillo Mulls Options for Regulations on Title Loans
Amarillo Globe-News (TX) 24 Jun 2014
Elected officials in Amarillo, Texas, are tackling the issue of car title and payday loans that charge borrowers interest that can top 500 percent.
- Prepaid Debit Cards Becoming Choice Of Scammers
CBS 4 Denver 23 Jun 2014
Scam artists are turning to prepaid debit cards. "The scammers are having to turn to these money cards more and more, so they're taking their time, they're talking slowly to seniors, they're walking ...
- Many Homeowners With Loan Mods Face Rate Increases
Los Angeles Times 22 Jun 2014
Beginning this year, many homeowners who received loan workouts to avoid foreclosure will face higher rates and monthly mortgage payments.
- Alternative Credit Draws Mainers In, at Heavy Cost
Portland Press Herald (Maine) 22 Jun 2014
With 7.5 percent of its population patronizing payday lenders, rent-to-own shops, refund anticipation loans, and pawn shops, Maine more than any other New England state is finding its residents ...
- After Unemployment Extension Fails to Pass, Congress Is a Culprit in Foreclosure Crisis
Roll Call 20 Jun 2014
Many U.S. communities are still experiencing serious problems related to foreclosures, largely due to predatory lending and lingering recession. In a commentary piece, Democratic Reps.
- Dunn Still Focused on Payday Loan Bill
Troy Messenger (AL) 20 Jun 2014
Troy, Ala., City Councilman Charlie Dunn is holding out hope for a plan that would limit the number of payday lenders locally.
- SunTrust Fined Over Mortgages
Wall Street Journal 18 Jun 2014
SunTrust Banks will pay $968 million in fines and consumer relief to settle federal allegations of abusive mortgage practices.
- Some Americans are Getting Into Debt Just to Get By
MarketWatch 18 Jun 2014
While the wealthy have returned to their pre-crisis behavior of paying for everything from higher education, cars, and luxury homes with cash, the rest of the consumer sector has changed dramatically ...
- U.S. Extends Navient Corp Student Loan Contract
Wall Street Journal 17 Jun 2014
Bucking pressure to terminate its contract with student loan servicer Navient Corp., which is under fire for allegedly gouging some borrowers, the Department of Education has instead renewed the ...
- State Lawmakers Work on Legislation to Limit Payday Lenders
WAAYTV (Huntsville, Ala.) 17 Jun 2014
Alabama lawmakers are working on legislation to curb the payday lending industry. There currently are more than 1,200 payday lenders operating statewide.
- Survey: 56 Percent of Young Americans Living Paycheck to Paycheck
CBS Charlotte (N.C.) 17 Jun 2014
More than 40 percent of young Americans in the workforce, known as "Millennials," are struggling with growing debt, with 56 percent reporting that they survive "paycheck to paycheck.
- Whitehouse, Warren Introduce Measure to Help Families Struggling With Medical Debt
Insurance News Net 16 Jun 2014
Sens. Sheldon Whitehouse (D-R.I.) and Elizabeth Warren (D-Mass.) have introduced the Medical Bankruptcy Fairness Act of 2014 (S.
- Bank Account Screening Tool Is Scrutinized as Excessive
New York Times 16 Jun 2014
Many banks use private databases to review customers' account histories and past financial activity in hopes of weeding out serial fraudsters.
- City of Miami Sues JPMorgan, Claims Mortgage Discrimination
Reuters 16 Jun 2014
JPMorgan Chase, the nation's biggest bank, is being sued by the city of Miami for engaging in mortgage discrimination for at least the past 10 years.
- Bank of America Will Use Database to Screen for Payday Lenders
Wall Street Journal 16 Jun 2014
Bank of America is the first financial institution to agree to use a software database developed by regulators in New York to flag payday lenders that may be violating state laws.
- Mass. Homeowners to Get $3 Million in Settlement
Boston Globe 16 Jun 2014
Atlanta-based Ocwen, the country's No. 4 mortgage servicer in terms of size, has reached a new settlement with Massachusetts.
- Capital One to Stop Using Program to Weed Out Customers With History of Account Overdrafts
Washington Post 16 Jun 2014
Capital One Financial will no longer use the popular screening program ChexSystems as a filter for potential customers with a history of overdrawing their accounts, the bank has announced.
- Student Debt Takes a Bite Out of More Paychecks
Wall Street Journal 15 Jun 2014
Among consumers who defaulted on federal student loans, about 174,800 had the Education Department take some money out of at least one paycheck in the fiscal year ended Sept. 30, 2013.
- Limits on Foreclosure Sales Stir a Debate
Wall Street Journal 14 Jun 2014
Nonprofit groups and mortgage industry interests are butting heads over policies that restrict who can participate in short sales and foreclosure sales, and under what circumstances.