Retail & Commercial

Freddie Mac has revised downward its economic forecast for the remainder of 2016 following a tepid first quarter, but still remains upbeat about the housing market.

Lance Osborne is vying for two board seats at First Niles Financial in Ohio, but he isn’t pushing the thrift to sell itself. Rather, he wants management to pull money out of securities to make more loans.

The prepaid card industry is ramping up its advocacy efforts on Capitol Hill as the Consumer Financial Protection Bureau readies a final rule targeting such products.

The expansion of Medicaid under the Affordable Care Act is reducing medical debt in collections for some low-income consumers, according to a study from the National Bureau of Economic Research (NBER).

Over the past year, threats of steep downgrades have chilled secondary investor demand for federally guaranteed student loans, but two recent securitizations suggest that the market is beginning to thaw.

The Department of Education wants to make student loan payments easier through the launch of a single Web portal for federal student loan borrowers.

CIT Group named John C. Erickson president of its consumer bank and head of operations in California. Erickson, 54, will be based in Pasadena, California, and report to Chief Executive Officer Ellen Alemany.

A decline in expenses and a modest rise in lending income boosted first-quarter profit at Popular in San Juan, Puerto Rico.

Recent prosecutions against lenders accused of usury violations will test the government's use of a law more commonly known in organized crime cases.

It didn't take long for debit card issuers affected by the Durbin amendment fee caps to cut back or eliminate rewards programs to recoup costs. Issuers now engaged in the increasingly competitive credit card rewards and loyalty environment may soon have to face that same decision.