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WASHINGTON State regulators and House lawmakers warned the Consumer Financial Protection Bureau not to preempt state laws when the agency issues its proposal to regulate payday-type loans.
February 12 -
Capital Payments LLC, an Independent Sales Organization (ISO), has agreed to settle Federal Trade Commission charges that it allowed a telemarketing scheme called The Tax Club to use merchant accounts to process consumers credit card payments.
February 12 -
TransUnion has acquired a 71% ownership interest in CIFIN (Central de Informacion Financiera), one of two primary credit bureaus in Colombia, for approximately $127 million.
February 12 -
The percentage of auto loans to buyers with the poorest credit ratings is growing faster than the rest of the auto finance market, according to an analysis from Experian Automotive.
February 11 -
U.S. authorities cracked down on two major payday lending empires Wednesday, arresting three people tied to the industry, including race car driver Scott Tucker.
February 11 -
WASHINGTON The flood of new apartments will put upward pressure on vacancy rates in the next two years, but the multifamily market should stay strong, according to a new Freddie Mac forecast.
February 11 -
The CFPB is reporting on a financial scam targeting older consumers who previously were victims of fraudulent money-making schemes such as timeshare investments and in-home business opportunities.
February 10 -
Sen. Bernie Sanders' victory in the New Hampshire primary will undoubtedly provide fresh momentum for his campaign against Hillary Clinton, but is also likely to subject many of his proposals to a harsher spotlight as his credibility as a candidate grows.
February 10 -
Three in four lenders said it is increasingly difficult to find and acquire new customers and that theyre challenged by a low interest rate environment thats spurring competition for a pool of consumers who receive multiple credit offers, according to a TransUnion survey.
February 10 -
Outstanding revolving debt, including ongoing lines of credit used by consumers, jumped to $935.6 billion as of December from $841 billion in 2010, according to data from the Federal Reserve and a report from ValuePenguin.
February 10 -
A new breed of tax refund anticipation loans is testing that age-old maxim, with supporters saying that free really does mean free and critics suggesting that the products' 0% interest rates are masking the actual costs.
February 9 -
U.S. consumers in December increased their borrowing at the fastest pace in three months. The result suggests that consumer spending should remain strong in the coming months.
February 9 -
Louisianas Office of Motor Vehicles has recovered $22.5 million of the projected $444 million owed to the agency as a result of residents with lapsed auto insurance. But some drivers believe the states Office of Debt Recovery is being too aggressive.
February 9 -
U.S. bankruptcy filings reached 52,522 in January, 11% lower than 59,092 filings in January 2015, according to the American Bankruptcy Institute, which used data from Epiq Systems Inc.
February 8 -
An ordinance in Killeen, Texas limiting payday lending businesses will be reviewed Tuesday by the Killeen City Council.
February 8 -
The FCC is reviewing possible rules to allow companies using modern dialing technologies to call consumers on their cell phones concerning government-related debts including student loans and mortgages.
February 8 -
Remember strategic defaulters, those homeowners who walked away from their underwater mortgages even though they could still afford their loans?
February 5 -
A class-action lawsuit against collection agency Delbert Services Corp., a Las Vegas-based firm working for online tribal lender Western Sky Financial, can proceed after a federal appeals court reversed a lower courts decision that the dispute must be arbitrated.
February 5 -
The total amount of uncompensated care by hospitals in Minnesota rose from $573 million in 2013 to $589 million in 2014, despite a 26% drop in charity care for the uninsured, according to the Minnesota Hospital Association.
February 5 -
The CFPB stepped up efforts Wednesday to encourage banks to offer simple checking and savings accounts, but many institutions said they are already taking steps to try to reach the underbanked.
February 4