- Old Debts, Fresh Pain: Weak Laws Offer Debtors Little Protection
ProPublica 16 Sep 2014
New research reveals that millions of Americans, most earning $40,000 or less, are feeling the financial pain of having a chunk of each paycheck garnished to pay off consumer debts.
- Would a GOP Senate Foretell Change for Consumer Agency?
McClatchy News Service 16 Sep 2014
The growing pains of the controversial Consumer Financial Protection Bureau have attracted negative attention in Congress and could cause further headaches for the bureau, which likely will come ...
- El Paso City Council Approves Payday Lending Zoning Restrictions
El Paso Times (TX) 16 Sep 2014
City councilors in El Paso, Texas, have passed a new zoning ordinance for payday lenders, subjecting the "predatory" businesses to new restrictions.
- New Ordinance Regulates Amarillo Pay Day Loan Industry
ConnectAmarillo.com (TX) 16 Sep 2014
The Amarillo City Council on Sept. 16 gave final approval to an ordinance concerning Credit Access Businesses (CABs), after a community meeting and two public hearings.
- Student-Loan Borrowers Have Chance to Refinance at Lower Rates
Wall Street Journal 16 Sep 2014
Citizens Financial Group has joined the handful of lenders that are now refinancing federal student loans into private ones.
- Last Week Tonight on Student Loans
Last Week Tonight with John Oliver 15 Sep 2014
On Sunday, September 7, 2014, the HBO program Last Week Tonight with John Oliver featured a segment on student loans. In addition to discussing the size of student loan debt, the segment also featured information about the role for-profit colleges play...
- Mortgage Lead Generator Charged With Deceptive Advertising
Reverse Mortgage Daily 15 Sep 2014
The Federal Trade Commission (FTC) has charged Intermundo Media LLC, a Colorado-based mortgage lead generator, with allegedly deceiving consumers through false advertising claiming it could refinance ...
- City of El Paso May Place New Restrictions on Payday Loans
El Paso Times (TX) 15 Sep 2014
El Paso, Texas, is considering a zoning change that would restrict locations for new payday and auto title lenders. The change would not affect businesses already in operation.
- CFPB Finalizes Plan to Supervise Money Transmitters
American Banker 15 Sep 2014
The Consumer Financial Protection Bureau (CFPB) has finalized a rule that will bring large, nonbank global money transmitters under its control starting on Dec. 1.
- Counterpoint: Race Does Matter in Mortgage Lending
Housingwire 15 Sep 2014
In response to a Housing Wire column that alleged that mortgage lending was color-blind, CRL’s Nikitra Bailey, executive vice-president for external affairs, penned a rebuttal. Her column cites research that proves the journey towards far fair housing still has a long way to go.
- Federal Agency Sues Two Johnson County Men, Says They Bilked Payday Loan Customers out of Millions
Kansas City Star 15 Sep 2014
The Federal Trade Commission (FTC) has asked for injunctions against more than a dozen payday lending outfits controlled by Timothy A. Coppinger and Frampton T. Rowland III of Johnson County, Mo.
- Credit Access Is a Top Worry for Housing-Industry Executives Looking at 2015
MarketWatch 15 Sep 2014
With 2015 just over the horizon, housing executives are concerned about the impact of tight underwriting on next year's residential property market.
- Underwater Borrowers May Need to Wait Months More for Relief
Washington Post 13 Sep 2014
With Congress back in session, the issue of tax relief for distressed homeowners who accept mortgage assistance is back on the table.
- The New Rules of Borrowing for Homes, Autos and College
Wall Street Journal 13 Sep 2014
Borrowing costs are coming down as lenders compete for customers, although individuals with the best credit scores still claim the best rates.
- Parents Poised to Gain Easier Access to College Loans
Wall Street Journal 13 Sep 2014
The Obama administration wants to broaden student loan access for parents with damaged credit, but it could burden low-income families with debt in the process.
- CFPB's Cordray Homes in on Mobile Banking, Payments
American Banker 12 Sep 2014
Consumer Financial Protection Bureau (CFPB) director Richard Cordray said the agency needs to keep up with advancements in mobile banking and online payments.
- Obama's Gainful Employment Rule
The Hill 12 Sep 2014
The Obama administration has revived an effort to target for-profit colleges through a proposed rule on "gainful employment." Mario H.
- HUD Fines FirstBank Mortgage Partners for Maternity-Related Discrimination
Housing Wire 12 Sep 2014
FirstBank Mortgage Partners will pay a $35,000 fine to settle allegations that it violated the Fair Housing Act by rejecting a couple for a home loan because of maternity leave.
- Stressed Borrowers Rattle Resurgent Subprime Lending Industry
New York Times 12 Sep 2014
Subprime lenders in recent years have successfully issued billions of dollars in auto and other loans without alarming levels of defaults, but there are indications that their luck may be running out.
- Obstacles to Making Affordable Mortgages Mount
American Banker 11 Sep 2014
Residential lenders will continue to have a difficult time providing affordable home loans and broader access to credit, industry experts said at the American Mortgage Conference in Raleigh, N.C.