- Efforts to Curb Payday Lending at the Statehouse Once Again
Rhode Island Public Radio 04 Feb 2014
Lawmakers in Rhode Island are again trying to clamp down on the state's payday lending industry, after several previous failed attempts. Rep. Frank Ferri and Sen.
- Consumer Bureau Says Loan Servicing Issues Vary
Inside Higher Ed 04 Feb 2014
The Consumer Financial Protection Bureau on Feb. 3 published a new report on servicing of private student loans, specifically addressing the issue of prepayments.
- Delinquencies Nearing Pre-Housing Crisis Levels
National Mortgage Professional Magazine 03 Feb 2014
The U.S. inventory of delinquent mortgages has registered significant improvement for the fourth consecutive year, according to the year-end Mortgage Monitor Report from Black Knight Financial ...
- Indiana Attorney General Going After Mortgage Bailout Scammers
Fort Wayne News-Sentinel (IN) 03 Feb 2014
There are just two mortgage bailout firms operating legally in Indiana, and state Attorney General Greg Zoeller has filed suit against three that are not.
- Virginia General Assembly: Payday Lending Bills Go Down for Session
Daily Press (Virginia) 03 Feb 2014
Two bills sponsored by Democratic Sens. John Miller and Mamie Locke as part of an effort to crack down on payday lenders in Virginia were voted out in subcommittee.
- Anniston Contemplating Moratorium on Payday Lenders
Anniston Star 03 Feb 2014
In Alabama, city councilors in Anniston are considering a six-month block on new payday lenders in the city limits.
- Calif. Lawmaker Reconsiders Reverse Mortgage Protection Bill
Reverse Mortgage Daily 02 Feb 2014
In California, reverse mortgage legislation that failed to win approval last year could get another chance in 2014.
- CFPB Says 'Yes' to HUD's E-Signed Mortgage Loans
Reverse Mortgage Daily 02 Feb 2014
The Consumer Financial Protection Bureau (CFPB) is applauding HUD's move to let lenders accept electronic signatures on FHA mortgages.
- Debt-Settlement Legislation Would Lift Fee Caps That Protect Consumers
Cleveland Plain Dealer (OH) 02 Feb 2014
Nearly 10 years ago, lawmakers passed the Ohio Debt Adjusters Act, intended to protect state residents from debt adjusters that imposed excessive fees and gave false hope to consumers mired in debt.
- Group Hoping to Form City's First Low-Income Credit Union
Lincoln Journal Star (NE) 02 Feb 2014
Payday lenders do not ask many questions of applicants -- such as their credit history or reason for the advance -- which makes it easy to borrow money quickly.
- Race Gap on Conventional Loans
New York Times 02 Feb 2014
Many African-American and Hispanic borrowers have been kept out of the conventional mortgage market, according to Zillow and the National Urban League.
- Do Not Weaken CFPB Consumer Watchdog
Consumer Reports 01 Feb 2014
Consumers Union, the policy and advocacy arm of Consumer Reports, writes that the Consumer Financial Protection Bureau -- created after the financial crisis -- has done a good job of protecting ...
- Massive Credit-Data Breaches May Pose Problems for People Trying to Buy Houses
Washington Post 01 Feb 2014
According to mortgage-credit experts, recent massive data breaches at retailers could impact some real estate transactions over the coming months due to damaged credit files.
- Coming to a Post Office Near You: Loans You Can Trust?
Huffington Post 01 Feb 2014
A new report from the Office of the Inspector General (OIG) of the U.S. Postal Service (USPS) indicates that about 68 million Americans, or more than 25 percent of all households, have no checking or ...
- Banks Loosening Credit Standards: OCC Report
American Banker 31 Jan 2014
Banks are relaxing their underwriting criteria for most types of loans, with the exception of home equity lines, the Office of the Comptroller of the Currency reports.
- DOJ Defends Payday Lender Probe
Wall Street Journal Online 30 Jan 2014
In recent correspondence to trade groups and legislators, the Department of Justice (DOJ) stressed that its ongoing probe into banks and other providers that facilitate payment-processing services to ...
- Nearly Half of America Lives Paycheck-to-Paycheck
Time 30 Jan 2014
A report released Jan. 30 by the Corporation for Enterprise Development (CFED) has found that 44 percent of the nation's residents are scraping by from one paycheck to the next.
- Online Complaints System Will Police Colleges Over GI Bill Benefits
Stars and Stripes 30 Jan 2014
Federal officials this week rolled out a Web-based complaints system targeting colleges that take advantage of student veterans and their military education benefits.
- CFPB: Servicers Still Engaged in Unfair or Deceptive Practices
Housing Wire 30 Jan 2014
Servicing issues with loan modifications, foreclosures, and payment processing have persisted even after new standards were put in place last year, says the Consumer Financial Protection Bureau.
- Banks Ditched Payday Lending-Like Programs, But What's Next?
Consumerist 30 Jan 2014
Half a dozen banks this month have bowed to regulatory pressure and scrapped their deposit-advance programs, which mimicked payday loans and their high interest rates.