- An Industry That Hasn?t Been Missed
Charlotte Observer (NC) 02 Dec 2014
The last of North Carolina's payday lending businesses closed in 2006, saving consumers there more than $1.2 billion in fees over the last eight years; but now the industry wants to reenter the state.
- Get Ready for Big Mortgage Rate Increases
BusinessWeek 01 Dec 2014
More than 700,000 U.S. homeowners are due for a painful re-set of their interest rate as their loans hit the 10-year mark.
- U.S. Accuses Toyota Credit Unit of Discriminatory Loan Pricing
Chicago Tribune 01 Dec 2014
Federal authorities have notified Toyota Motor Credit Corp. of their concern over the pricing of its auto loans.
In a letter dated Nov.
- Consumers Driving Up Record Auto Loans: Experian
CNBC.com 01 Dec 2014
A new report from Experian Automotive shows that U.S. consumers are spending more than ever on vehicles, both new and used.
- Orange County D.A.'s Office Is Doing Debt Collectors' Dirty Work
Los Angeles Times 01 Dec 2014
Several plaintiffs in California are suing CorrectiveSolutions, accusing the company of using "false and misleading threats of criminal prosecution" to scare people into paying fees and debts.
- Consumer Reports: Better Prepaid Cards
9News (CO) 30 Nov 2014
Millions of Americans now use prepaid cards, often as a substitute for a bank account or a way to keep themselves on a budget. However, not all cards are a good deal, Consumer Reports warns.
- Mortgage Lenders Set to Relax Standards
Wall Street Journal 28 Nov 2014
In response to new guidelines from Fannie Mae and Freddie Mac, effective Dec. 1, home lenders are expected to loosen standards for borrowers even more and expand access to mortgages to thousands of ...
- There Are More Payday Lenders in U.S. Than McDonald's
NBCNews.com 24 Nov 2014
The St. Louis Federal Reserve reports that more than 20,000 payday lending stores operate in the 36 states where the practice is allowed, easily outpacing the 14,267 McDonald's restaurants that are ...
- FHFA Announces Conforming Loan Limits for 2015
Housing Wire 24 Nov 2014
The maximum loan size for mortgages to be acquired by Fannie Mae and Freddie Mac will increase in only 46 counties next year, according to the Federal Housing Finance Agency.
- Democratic Bill Would Crack Down on Payday Loans to Active-Duty Military
WKSU.org (OH) 23 Nov 2014
Legislators in Ohio have drafted a proposal that aims to protect active-duty service members and military veterans from the shady dealings of payday lenders.
- Christian Leaders Condemn Payday Lenders Who Con the Poor, Call for New Controls
Christian Post (DC) 21 Nov 2014
Armed with information packets put together by the Center for Responsible Lending, faith leaders and like-minded activists from across the country recently descended on Capitol Hill to lobby against ...
- Credit Score Company Settles FTC Charges for $22m
Associated Press 20 Nov 2014
The Federal Trade Commission, along with the attorneys general of Illinois and Ohio, has reached a settlement with a provider of "free" credit scores.
- Payday Loan Policy and the Art of Legislative Compromise
Colorado Independent 18 Nov 2014
As the Consumer Financial Protection Bureau (CFPB) considers federal regulations for payday loans, a Colorado law could serve as a model for compromise between industry interests and consumer ...
- Hilltop in Texas Discloses Federal Probe of FHA Lending
American Banker 10 Nov 2014
The $9.1 billion-asset Hilltop Holdings in Dallas announced that its mortgage unit is being investigated by the U.S.
- Colorado's Payday-Loan Experiment May Foreshadow Nationwide Changes
American Banker 10 Nov 2014
Colorado's 2010 overhaul of payday lending rules could be viewed as a model by the Consumer Financial Protection Bureau (CFPB), which is preparing to write nationwide rules for payday lending.
- U.S. Consumer Borrowing Up $15.9 Billion to Record
Associated Press 09 Nov 2014
According to the Federal Reserve, U.S. consumers increased borrowing by $15.9 billion in September, driving up consumer debt to a record total of $3.27 trillion.
- Why Offering 3 Percent Downpayment Mortgages Is Not a Return to Lax Lending
Washington Post 07 Nov 2014
Under the federal government's latest campaign to stimulate the residential real estate market, Fannie Mae and Freddie Mac could accept mortgages with down payments as low as 3 percent.
- Student-Loan Servicers Urged to Offer More Flexibility
Wall Street Journal 06 Nov 2014
Student loan servicers continue to draw scrutiny from the regulatory community, with a high-ranking Treasury official becoming the latest critic to push for change.
- Seniors Struggling With Debt, Debt Collectors
Consumer Affairs 06 Nov 2014
Debt levels are rising for older Americans, making them an easy target for unscrupulous debt collectors, the Consumer Financial Protection Bureau (CFPB) reports.
- More Expensive Cars Are Leading to Longer-Term Loans
New York Times 06 Nov 2014
Experian Automotive reports that the average length of a new-car loan was a record 66 months, or 5.5 years, in the second quarter, the most recent period for which data is available.