- Ky. Payday Lenders Face Stiffened Enforcement
Louisville Courier-Journal (KY) 22 Aug 2014
The number of payday lenders in Kentucky has declined over the last three years, from 750 stores to 539, due to increased state and federal scrutiny.
- Government to Payday Lenders: Don?t Sue Us, Sue the Banks
Washington Business Journal 22 Aug 2014
Payday lenders should sue banks that refuse to take their deposits instead of suing the government, according to a group of lawyers representing the Federal Deposit Insurance Corp.
- CFPB Picks 12 Companies for Mortgage Closing Study
American Banker 22 Aug 2014
The Consumer Financial Protection Bureau (CFPB) has selected seven mortgage companies and five vendors to participate in a pilot program that will gauge whether electronic closings benefit consumers, ...
- Watch Out for ?Pension Predators? Promising Quick Cash
Today 21 Aug 2014
Some companies are now offering a "pension advance," usually made in a single lump sum payment, to consumers with pensions -- usually military and government retirees.
- Texas Auto-Finance Firm Fined for Providing Inaccurate Information
Wall Street Journal 21 Aug 2014
The Consumer Financial Protection Bureau (CFPB) on Aug. 20 ordered an auto finance company to pay a $2.
- Some Homeowners Could Get Hit With a Whopping Tax Bill If They Accept Help Through Bank of America's Settlement
Washington Post 21 Aug 2014
Bank of America has pledged $7 billion in mortgage relief for distressed homeowners as part of a massive settlement with the government, but U.S. Attorney General Eric Holder Jr.
- Parents Worry About Student Debt Burden Too
U.S. News & World Report 21 Aug 2014
A new survey has found that not only students, but parents are concerned about the effects of taking out loans for a college education.
- Study: Wealth Gap Widened in Past Decade
Associated Press 21 Aug 2014
America's wealthy are getting wealthier; but the poor are getting poorer, according to the Census Bureau.
- Distressed Borrowers Targeted in BofA Settlement
USA Today 21 Aug 2014
Bank of America has set aside $7 billion in consumer relief, to be delivered over the next four years, as part of a nearly $17 billion settlement with state and federal authorities.
- Borrowers Could Suffer in Servicing Transfers, CFPB Warns
American Banker 20 Aug 2014
A bulletin from the Consumer Financial Protection Bureau (CFPB) is warning mortgage servicers that they could face repercussions if consumers are harmed when servicing rights change hands.
- NJ Judge: Freedom Mortgage Deal Amounts to Fraud
Asbury Park Press (New Jersey) 20 Aug 2014
A New Jersey Superior Court judge has ruled that Freedom Mortgage Corp. violated the state's Consumer Fraud Act in the handling of a refinance for an Englewood homeowner in 2009.
- Like Payday Loans, Lawsuit Loans Increasingly Coming Under Fire
Huffington Post 20 Aug 2014
As consumer advocates and lawmakers become increasingly critical of payday loans, some of that attention is likely to turn to lawsuit lending.
- Payday Lenders Banned From Menlo Park
San Jose Mercury News 20 Aug 2014
A temporary moratorium on payday and auto title lenders in Menlo Park, Calif., was slated to expire next month but instead will be made permanent.
- California Law Paves Way for More Credit-Building 0 Percent Loans
NerdWallet 20 Aug 2014
California has enacted a new law that allows nonprofits to lend as much as $2,500 interest-free to low-income borrowers who lack the credit to obtain a conventional credit.
- More Car Buyers Are Struggling to Make Payments
NBC News 20 Aug 2014
A growing number of car and truck owners are have trouble making their monthly vehicle loan payments.
Experian reports that the share of auto loans that were delinquent or ended up in ...
- State?s Robocalls Over Debts Widely Denounced
Boston Business Journal 20 Aug 2014
Consumer advocates, lawyers, and a candidate for attorney general are all demanding that Massachusetts stop its use of robocalls to collect overpayments of unemployment benefits.
- Late-Payment Rate on U.S. Mortgages Declines in 2Q
Associated Press 20 Aug 2014
TransUnion says Americans have become more diligent about paying home loans on time, with the mortgage delinquency rate dropping in the second quarter to the lowest level in six years.
- Moody?s Says Lenders Are Backing off Subprime Auto Loans
Washington Post 20 Aug 2014
Fewer lenders are extending car loans to consumers with poor credit histories, reversing a trend that had triggered alarm of a new financial bubble, Moody’s Investors Service reports.
- Until Banks Settle on Single Way to Disclose Fees, It's Hard to Compare Checking Accounts
Consumerist 19 Aug 2014
A new WalletHub study concludes that banks have improved their online disclosure of checking account fees but still have a long way to go in terms of transparency.
- Proposed State Act Would Boost Consumer Protections for Military Members
Indianapolis Star 19 Aug 2014
GOP legislators have proposed the Indiana Service Member's Civil Relief Act, which aims to boost consumer protections for active-duty military personnel.