- Bill Would Let ?Medically Distressed? Cast Off Student Loans
Wall Street Journal 01 Aug 2014
A proposal has been put forth to allow college graduates with heavy medical debt to eliminate their student loans. Sen. Sheldon Whitehouse (D-R.I.
- Families Borrow Less for College
Wall Street Journal 31 Jul 2014
American families are counting more on their own income and savings, and less so on student loans, to pay for higher education, according to an annual study by Sallie Mae.
- Homeowners Increasingly Satisfied With Mortgage Servicers, Study Says
Chicago Tribune 31 Jul 2014
Mortgage servicers are redeeming themselves in the eyes of many homeowners -- especially those in danger of delinquency -- reports J.D. Power.
- Backlog Mounts for Homeowner Program
Wall Street Journal 30 Jul 2014
The servicers processing applications for the Home Affordable Modification Program (HAMP) are having trouble keeping up with requests for loan workouts.
- Targeting Scams Against the Elderly
Washington Post 30 Jul 2014
Financial fears have made many U.S. consumers -- senior citizens, in particular -- more vulnerable to investment scams.
- FTC: Bill Collectors Posed as Cops to Threaten Arrest
Housing Wire 30 Jul 2014
One in three Americans is delinquent on their bills, and many are targeted by collectors who employ excessive measures.
- That $5 Latte Is Now Less Likely to Cost You $35 in Overdraft Fees
Washington Post 30 Jul 2014
Some of the largest U.S. banks have worked to reduce customers' chances of incurring overdrafts. Research firm Moebs Services reports that 52 percent of banks with $50 billion-plus in assets have ...
- Soldiers Get $92 Million in Debt Relief Under Settlement
Associated Press 29 Jul 2014
Thirteen states have settled an investigation into deceptive lending, and the court agreement is expected to provide $92 million in debt relief for 17,800 members of the U.S. military.
- High-Tech Repo Men Are Reshaping Subprime Auto Lending
American Banker 29 Jul 2014
Auto lenders are still aggressively pursuing subprime consumers, possibly because of technological advances that have made repossession cheaper and easier.
- A Third of U.S. Facing Debt Collection
USA Today 29 Jul 2014
A new Urban Institute study has determined that, led by residents of the South, 35 percent of all Americans have some kind of debt in collections.
- Payments Puzzle Persists at Banks
Wall Street Journal 29 Jul 2014
Hundreds of small and regional banks continue to process checking-account transactions in order from the highest amount to the lowest, a policy that can trigger multiple overdraft fees in the same ...
- Moratorium Extended on Permitting Short-Term Lenders to Set Up Shop
Anniston Star 29 Jul 2014
City officials in Anniston, Ala., will take another three months to finalize regulations on short-term loan businesses before new lenders can open in the city.
- A Boston Program Aiding Foreclosed Homeowners Could Be a National Model for Fighting Blight
Washington Post 28 Jul 2014
Housing experts are taking interest in a foreclosure-prevention initiative in Boston that they believe could serve as a national model for curtailing neighborhood blight.
- Thank You for Your Service: How One Company Sues Soldiers Worldwide
ProPublica 25 Jul 2014
USA Discounters has locations near military bases nationwide, where it offers guaranteed credit to enlisted persons who may not qualify for conventional financing.
- Insta-Loophole: In Florida, High-Cost Lender Skirts the Law
ProPublica 25 Jul 2014
Florida abolished high-cost auto title loans in 2000, but that has not prevented TMX Finance from finding a way around the regulations.
- Pa. Snares Online Lenders Charging Interest Rates as High as 169 Percent
Newsworks.org 24 Jul 2014
Two California-based lending companies, WS Funding and Cash Call, have reached an agreement with the Pennsylvania Department of Banking and Securities after the firms were discovered making loans at ...
- CFPB Proposes Changes to HMDA
Reverse Mortgage Daily 24 Jul 2014
Federal regulators want to tweak the Home Mortgage Disclosure Act (HMDA), confirmed Richard Cordray, who runs the Consumer Financial Protection Bureau.
- Rep. Richmond Proposes Bill to Allow Post Offices to Offer Banking Services
Times-Picayune (New Orleans) 24 Jul 2014
Rep. Cedric Richmond (D-New Orleans) has introduced the Providing Opportunities for Savings, Transactions and Lending (POSTAL) Act, which would empower post offices to provide banking services.
- Have Republicans Thrown in the Towel on Their Opposition to CFPB?
USA Today 23 Jul 2014
After fighting tooth and nail to block creation of the Consumer Financial Protection Bureau, Republican congressmen virtually failed to mention the CFPB in a new report on the shortcomings of ...
- Housing Groups Criticize Single-Family Rental Investment Firms
American Banker 22 Jul 2014
Single-family rental investment firms need government oversight, finds a report by a national housing group called Right to the City Alliance.