- New FICO Model May Not Help Home Buyers Anytime Soon
Washington Post 23 Aug 2014
Despite the tremendous media buzz surrounding the rollout of FICO's latest credit score -- which lessens the impact of medical debt and treats borrowers with limited histories more fairly -- the new ...
- 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, ...
- 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.
- 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.
- 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.
- 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.
- 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.
- 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 ...
- 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.
- 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.