- Wells Fargo Settles Remaining 'Robo-Signing' Mortgage Litigation
Los Angeles Times 24 Apr 2014
Wells Fargo has agreed to spend $67 million on mortgage-related issues to settle remaining civil litigation stemming from the "robo-signing" debacle.
- U.S. Agency Urges Private Lenders to Ease Automatic Default Rules on Student Loans
Washington Post 22 Apr 2014
Some private student loan borrowers are placed in automatic default when a co-signer dies or declares bankruptcy, even if the borrower has made payments on time.
- Federal Plans That Forgive Student Debt Skyrocket
Wall Street Journal 22 Apr 2014
Federal programs that wipe out some student debt are more popular than ever, but government officials want to limit them because of their costs and the risk that they could prompt colleges to charge ...
- States With Highest, Lowest Payday Loan Rates
USA Today 21 Apr 2014
Idaho, Nevada, and Utah are three of only seven states that impose no legal limits on payday loans. Subsequently, they have some of the highest interest rates in the country, according to a new ...
- How Payday Lenders Prey Upon the Poor - and the Courts Don't Help
New York Times Magazine 20 Apr 2014
Although payday loans are marketed as a short-term solution for financial emergencies, they often land borrowers in a debt spiral.
- Lenders Ease Mortgage Rules in Hunt for Business
Wall Street Journal 20 Apr 2014
Private-sector mortgage lenders are warming to lower credit scores and down payments, although the underwriting bar remains high by historical norms.
- Student Debt Holds Back Many Would-Be Home Buyers
Los Angeles Times 19 Apr 2014
Of the many factors holding back young home buyers -- rising prices, tougher lending standards, a persistently unstable job market -- none looms larger than the recent spurt in college debt.
- Foreclosure Rescue Fraud Epidemic Highlighted in New Report
National Mortgage Professional Magazine 18 Apr 2014
The Lawyers' Committee for Civil Rights Under Law has issued a new report that looks at trends in foreclosure rescue fraud and efforts to combat the problem.
- Rep. Ferri's Bill Would Lower Interest Allowed on Payday Loans in Rhode Island
Providence Journal 17 Apr 2014
Rhode Island lawmakers are considering a bill that would revise existing rules on payday loans. The short-term loans are limited to $500, must be paid back in two weeks, and carry interest rates as ...
- Sallie Mae Cheated Soldiers on Federal Student Loans, Government Investigators Find
Huffington Post 17 Apr 2014
New evidence suggests that Sallie Mae cheated active-duty soldiers on government student loans.
If the findings are made public as part of a lawsuit or settlement, Sallie Mae's contract ...
- Hate Your Bank? Here's Why You Won't Switch
MarketWatch 17 Apr 2014
Big-bank customers unhappy with checking account fees may threaten to switch to smaller community and regional banks, but research shows that few actually do so.
- Study Finds S.D. Has Some of Highest Payday Loan Costs
Argus Leader (SD) 16 Apr 2014
Three dozen U.S. states allow payday loans -- the most costly of which are found in Idaho, Texas, Ohio, and South Dakota, according to the Pew Charitable Trusts.
- CFPB Proposes Rule Change So Banks Can Send Your Money Overseas
Consumerist 15 Apr 2014
The Consumer Financial Protection Bureau on April 15 announced a proposed update to its global money transfer rule.
- 5 Ways Banks Hurt the Poor
MarketWatch 15 Apr 2014
JPMorgan Chase Chairman and CEO Jamie Dimon contends that regulation has made it difficult to provide credit to many consumers.
- Supporters Seek New Angle to Limit Payday Lending
Daily Comet (La.) 15 Apr 2014
Advocates of payday lending regulation are looking to another strategy now that Louisiana lawmakers have squashed efforts to cap the loans' annual interest rates. A bill by Sen.
- States Splitting With Feds on 'Operation Choke Point'
American Banker 15 Apr 2014
State regulators are pushing back against the federal crackdown on Web-based payday operations. Banks are worried that pressure from federal banking regulators and the Department of Justice, which ...
- Banks to Payday Lenders: Quit the Business or We'll Close Your Account
Washington Post 11 Apr 2014
More payday lenders say banks being scrutinized by the FDIC and the Office of the Comptroller of the Currency for direct-deposit advances are now telling them to cease and desist making payday loans ...
- State AG Files Five Lawsuits Against Payday Lenders
InsideARM 10 Apr 2014
Illinois Attorney General Lisa Madigan has filed five lawsuits as part of a crackdown on payday lending.
- American Subprime Lending Is Back on the Road
Financial Times 10 Apr 2014
Although many asset managers said during the financial crisis that they would never touch subprime again, subprime lending has made a return in auto lending.
- Consumer Debt Delinquencies Expected to Rise
Consumer Affairs 09 Apr 2014
FICO's latest quarterly survey of bank risk managers indicates that 44 percent expect credit-card delinquencies to increase in the next six months.