- CFPB Finalizes Plan to Supervise Money Transmitters
American Banker 15 Sep 2014
The Consumer Financial Protection Bureau (CFPB) has finalized a rule that will bring large, nonbank global money transmitters under its control starting on Dec. 1.
- Counterpoint: Race Does Matter in Mortgage Lending
Housingwire 15 Sep 2014
In response to a Housing Wire column that alleged that mortgage lending was color-blind, CRL’s Nikitra Bailey, executive vice-president for external affairs, penned a rebuttal. Her column cites research that proves the journey towards far fair housing still has a long way to go.
- Federal Agency Sues Two Johnson County Men, Says They Bilked Payday Loan Customers out of Millions
Kansas City Star 15 Sep 2014
The Federal Trade Commission (FTC) has asked for injunctions against more than a dozen payday lending outfits controlled by Timothy A. Coppinger and Frampton T. Rowland III of Johnson County, Mo.
- Credit Access Is a Top Worry for Housing-Industry Executives Looking at 2015
MarketWatch 15 Sep 2014
With 2015 just over the horizon, housing executives are concerned about the impact of tight underwriting on next year's residential property market.
- Underwater Borrowers May Need to Wait Months More for Relief
Washington Post 13 Sep 2014
With Congress back in session, the issue of tax relief for distressed homeowners who accept mortgage assistance is back on the table.
- The New Rules of Borrowing for Homes, Autos and College
Wall Street Journal 13 Sep 2014
Borrowing costs are coming down as lenders compete for customers, although individuals with the best credit scores still claim the best rates.
- Parents Poised to Gain Easier Access to College Loans
Wall Street Journal 13 Sep 2014
The Obama administration wants to broaden student loan access for parents with damaged credit, but it could burden low-income families with debt in the process.
- CFPB's Cordray Homes in on Mobile Banking, Payments
American Banker 12 Sep 2014
Consumer Financial Protection Bureau (CFPB) director Richard Cordray said the agency needs to keep up with advancements in mobile banking and online payments.
- Obama's Gainful Employment Rule
The Hill 12 Sep 2014
The Obama administration has revived an effort to target for-profit colleges through a proposed rule on "gainful employment." Mario H.
- HUD Fines FirstBank Mortgage Partners for Maternity-Related Discrimination
Housing Wire 12 Sep 2014
FirstBank Mortgage Partners will pay a $35,000 fine to settle allegations that it violated the Fair Housing Act by rejecting a couple for a home loan because of maternity leave.
- Stressed Borrowers Rattle Resurgent Subprime Lending Industry
New York Times 12 Sep 2014
Subprime lenders in recent years have successfully issued billions of dollars in auto and other loans without alarming levels of defaults, but there are indications that their luck may be running out.
- Obstacles to Making Affordable Mortgages Mount
American Banker 11 Sep 2014
Residential lenders will continue to have a difficult time providing affordable home loans and broader access to credit, industry experts said at the American Mortgage Conference in Raleigh, N.C.
- When You Can Max Out Student Loans ? And Not Have to Pay It All Back
Washington Post 11 Sep 2014
Income-based repayment (IBR) programs for student loans that also offer loan forgiveness after a certain number of payments may give people going into public-sector or nonprofit jobs the ability to ...
- Home Buyers' Down Payment Rate Hits 17.28 Percent; Less in West Virginia, More in Hawaii
Tacoma News Tribune (WA) 11 Sep 2014
Online mortgage firm Lending Tree reports that the lowest down payments in the country last month were in West Virginia, where they averaged 14.42 percent on a 30-year fixed loan.
- Industry, Consumer Groups Tell Fannie, Freddie Regulator Not to Raise Mortgage Fees
MarketWatch 11 Sep 2014
Consumer advocates and industry groups agree that the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac, should not hike "guarantee" fees that the two companies ...
- CFPB Chief: Prepare for New Mortgage Regs
The Hill 10 Sep 2014
Speaking at a credit union conference this week, Consumer Financial Protection Bureau head Richard Cordray offered a snapshot of the agency's next round of mortgage regulation.
- Renters Fear They Lack the Credit, Not Just the Cash, To Buy a Home
Washington Post 08 Sep 2014
After analyzing the results of a consumer sentiment poll, researchers at the Federal Reserve Bank of New York found that many renters who want to buy a house may not even try out of fear that they ...
- PSC Supports Limiting Utility Bill Payments at Payday Lenders
St. Louis Post-Dispatch 04 Sep 2014
Most members of the Missouri Public Service Commission (PSC) support a new rule that would block utilities from allowing customers to pay their bills at payday lending locations.
- CFPB Ramps Up Scrutiny of Credit-Card Issuers
Wall Street Journal 03 Sep 2014
The Consumer Financial Protection Bureau this week called big credit-card companies to task for failing to thoroughly disclose the hidden risks of zero-interest balance transfers, convenience checks, ...
- 2.5 Million Borrowers Face Imminent Payment Shock
Housing Wire 02 Sep 2014
By Black Knight Financial's estimate, 2.5 million Americans will see an average $250 more tacked onto their monthly mortgage payment as interest rates on home equity lines of credit (HELOCs) reset ...