- Student Loans Soar Among Wealthy College Graduates
MarketWatch 11 Oct 2014
The number of U.S. college graduates with student loans has reached a record high at 69 percent. The typical amount borrowed has also doubled compared to graduates 20 years ago, according to an ...
- CFPB Proposes TILA-RESPA Changes
Credit Union Times 10 Oct 2014
The Consumer Financial Protection Bureau (CFPB) has proposed two changes to the TILA-RESPA final rule.
- Home Equity Lending Surges in U.S. to Five-Year High
Bloomberg BusinessWeek 09 Oct 2014
Lenders increased their origination of home equity lines of credit (Helocs) by 21 percent in the 12 months ending in June, data firm RealtyTrac Inc. reports.
- Dealers to Face More Lender Scrutiny
Automotive News 08 Oct 2014
The "larger participants" rule proposed by the Consumer Financial Protection Bureau (CFPB) could be enacted before the end of the year, prompting more scrutiny of car dealerships and increasing ...
- Student Debt Costs Housing $83B a Year
Housing Wire 08 Oct 2014
The latest John Burns Real Estate Consulting study calculates that student debt will cost the housing industry approximately $83 billion in sales this year.
- The States Where Homeowners Are Still Struggling
Fox Business 08 Oct 2014
Despite historically low rates, there have been fewer mortgages opened in some parts of the nation. At the same time, millions of American consumers are still struggling to afford the monthly ...
- Debt-Laden College Students Worry About Refinancing: Survey
American Banker 08 Oct 2014
A survey of 500 current college students released Oct. 7 by Citizens Financial Group indicates that they currently are carrying $22,000 to $25,000 in student-loan debt, and by the time they graduate, ...
- Card Issuer Tries Early Intervention With Struggling Borrowers
Wall Street Journal 08 Oct 2014
Barclaycard, a credit-card issuer and unit of Barclays, has partnered with Philadelphia-based Consumer Credit Counseling Service of Delaware Valley to provide assistance to existing customers who are ...
- Regulator Says Consumers Unfairly Blocked From Checking Accounts
Wall Street Journal 08 Oct 2014
At an Oct. 8 forum on checking account issues, Consumer Financial Protection Bureau Director Richard Cordray said consumers are unfairly blocked from obtaining checking accounts due to past financial ...
- New Mortgage Lender Demands Less Documentation
Wall Street Journal 07 Oct 2014
Social Finance, or SoFi, has offered mortgages in California since August and expanded its business to New Jersey, North Carolina, Pennsylvania, Texas, Washington, and the District of Columbia on Oct.
- Car Dealers Resisting Regulations on Fees
Detroit Free Press 07 Oct 2014
The National Automobile Dealers Association (NADA) is fighting efforts by the Consumer Financial Protection Bureau (CFPB) to eliminate dealers' ability to charge varying rates for higher-risk loans.
- U.S. Consumer Credit Posts Smallest Gain Since November
Reuters 07 Oct 2014
The Federal Reserve reported on Oct. 7 that U.S. consumer credit climbed to $3.25 trillion in August, and the increase of $13.5 billion for the month was the smallest since November.
- Feds Crack Down on Elderly Financial Abuse in Spanish-Speaking Communities
The Hill 07 Oct 2014
The Federal Deposit Insurance Corp. (FDIC) and the Consumer Financial Protection Bureau (CFPB) have joined forces to protect Spanish-speaking senior citizens from financial fraud.
- Consumer Delinquencies Continue Falling to Record Low
Washington Business Journal 07 Oct 2014
The American Bankers Association (ABA) reports that overall consumer debt delinquencies hit a record low of 1.57 percent in the second quarter, down from 1.
- Payday Lender All American Doing Business Under Temporary License
Mississippi Business Journal 06 Oct 2014
Madison-based payday lender All American Check Cashing, unable to renew its annual license because of regulatory troubles, instead is operating in Mississippi under a temporary license granted by the ...
- GAO Calls on Treasury to Better Track Homeowner Relief Data
The Hill 06 Oct 2014
In a new report, the Government Accountability Office concludes that Treasury officials could do more to assess why some distressed homeowners are redefaulting after receiving federal mortgage relief.
- Online Lender CashCall Must Pay $1.5 Million to Iowans
Des Moines Register 06 Oct 2014
Iowa officials have brokered a settlement with online lender CashCall, which agreed to surrender its license and fork over $1.
- Racial Disparity in Mortgage Refinancing Data
New York Times 05 Oct 2014
Last year saw a 25 percent slump in mortgage refinancing from 2012, due almost entirely to less participation among white and Asian borrowers, according to a data analysis by the Urban ...
- Socorro Works on Payday Ordinance
El Paso Times (TX) 04 Oct 2014
Socorro has become the latest Texas jurisdiction to attempt to restrict payday lenders, which have recently opened branches locally.
- New York AG Sues Law Firms for Mortgage Loan Relief Scam
DSNews 03 Oct 2014
New York Attorney General Eric Schneiderman has sued two law firms and their principal attorney, Gennady Litvin, for allegedly participating in a fraudulent mortgage rescue scam.