- Net Tool Tracks Fraud Against Older People
Boston Globe 11 Mar 2014
AARP has developed a new interactive Fraud Watch Network map to alert older consumers to fraudulent schemes that target them.
- Payday Lending Bill Passes Idaho Senate
Idaho Statesman 11 Mar 2014
The Idaho Senate has passed SB 1314 to curb payday lending in the state and cap the maximum amounts and interest rates of these loans.
- With Clock Ticking on Mortgage Relief, Homeowners Wonder What's Ahead
Washington Post 11 Mar 2014
Five years after the federal government rescued more than 1 million distressed homeowners, many who received aid could still wind up in foreclosure.
- Payday Loan Law Helps State Borrowers
Minnesota Daily (MN) 10 Mar 2014
Minnesota State Rep. Joe Atkins (DFL-Inver Grove Heights) has introduced legislation to regulate the state's payday lending industry.
- Prepaid Cards Taking the Place of Bank Accounts
Milwaukee Journal Sentinel 10 Mar 2014
More than 25 percent of U.S. households do not have traditional bank accounts or hold such accounts but use alternative financial services anyway, says the FDIC.
- Speeding Up Vacant-Home Foreclosures Could Save Big: Fed Paper
American Banker 10 Mar 2014
A new study by the Federal Reserve Bank of Cleveland concludes that fast-tracking foreclosures in states that handle the process through the courts could lead to significant savings for all parties.
- 5 Ways Children Hold the Key to Housing's Future
Housing Wire 10 Mar 2014
Financial education for children is the key to helping shape housing's future, Consumer Financial Protection Bureau director Richard Cordray said at the President's Advisory Council for Financial ...
- FTC Targets Amherst Debt Collector for Threatening Consumers
Buffalo News (NY) 09 Mar 2014
The Federal Trade Commission (FTC) has shut down and seized the assets of 13 firms that used threats and fake identities to try to collect debts.
- Wells Fargo, HSBC Agree to Refunds Over Alleged Insurance Overcharges
Wall Street Journal 07 Mar 2014
Wells Fargo and HSBC Holdings have agreed to give refunds to possibly hundreds of thousands of borrowers for alleged insurance overcharges.
- Lenders Use Budget Data to Lobby FHA for Lower Premiums
American Banker 07 Mar 2014
President Obama's budget reveals that the FHA has the flexibility to lower premiums, according to the Community Home Lenders Association.
- Waterloo Mulls Zoning Clamps on Payday Lenders
WCF Courier 07 Mar 2014
In Waterloo, Iowa, new Ward 3 councilman Pat Morrissey is calling for city zoning changes as an attempt to rein in payday lenders. Such changes would limit where the lenders can set up shop.
- Americans' Household Net Worth Hits Record
Associated Press 07 Mar 2014
According to the Federal Reserve, a hot stock market and recovering home prices boosted Americans' wealth to record levels in 2013's fourth quarter. However, both sectors have slowed this year.
- BofA Rolls Out Checking Account for Chronic Overdrafters
CNNMoney (NY) 06 Mar 2014
Bank of America is pilot-testing a new option that aims to avoid overdraft fees by blocking customers from withdrawing more money than they have in their checking account.
- No Surprise Here: Credit Reports Created With Your Online Information Are Mostly Inaccurate
Consumerist 06 Mar 2014
More than 64 million Americans lack a credit history, but financial institutions are trying to determine such consumers' creditworthiness using big-data brokers.
- CFPB Recovers More Than $1 Million for Service Members, Veterans, And Their Families
Huntington News 06 Mar 2014
The Consumer Financial Protection Bureau (CFPB) on March 6 announced that U.S. service members, veterans, and their families who complained to the agency about financial products or services have ...
- New Lenders Spring Up to Cater to Subprime Sector
Wall Street Journal 06 Mar 2014
New lenders are reaching out to consumers with subprime credit, a population often ignored since the financial meltdown. Equifax Inc.
- New York Demands Data From Mortgage Firm Nationstar
New York Times 06 Mar 2014
New York State's top banking regulator, Benjamin M. Lawsky, is raising questions about the capabilities of Nationstar Mortgage Holdings.
- House, Senate Committees Approve Payday Loan Bills
Montgomery Advertiser (AL) 06 Mar 2014
Committees in the Alabama House and Senate on March 5 approved two bills that would place some limitations on payday lending in the state.
- State Lawmakers to Consider Proposals to Add New Caps to Payday Lending Rates in Louisiana
Associated Press 05 Mar 2014
In Louisiana, legislation sponsored in the state House by Rep. Ted James (D-Baton Rouge) and in the upper chamber by Sen.
- Subprime Auto Boom Besieged by Late-Payment Jump
Bloomberg 05 Mar 2014
A three-year lending boom to car buyers with flawed credit that helped push auto sales to a six-year high is starting to show signs of overheating.