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U.S. v. Adrian Rubin, filed recently in federal court in Pennsylvania, ought to be required reading for anyone studying the history of online payday lending.
June 24 -
CashPoint will forgive more than $2.36 million in consumer loan debt after reaching a settlement Tuesday with the West Virginia Attorney Generals office over alleged illegal collection practices.
June 24 -
Bank of the Orient in San Francisco has received a federal cease-and-desist order because of shortcomings in its compliance with anti-money-laundering rules.
June 23 -
Johnson Financial Group in Racine, Wis., has promoted an executive in its insurance division to chief financial officer.
June 23 -
The case against Adrian Rubin offers a tour through lenders' efforts, dating back to the late 1990s, to avoid state-by-state interest-rate caps.
June 23 -
The second-largest provider of U.S. mortgages through brokers is bringing back a debt type that's almost disappeared since the financial crisis: Interest-only loans.
June 23 -
Flagstar Bancorp in Troy, Mich., has hired industry veteran Leonard Israel to lead its mortgage division.
June 23 -
The big bank has taken heat from social conservatives about its TV advertisement featuring a same-sex couple adopting a child, but Wells executives say the ad is part of a larger campaign that embraces the many demographic groups in its customer base.
June 23 -
Fannie Mae will no longer charge mortgage lenders to submit loans to its Desktop Underwriter automated underwriting system, a decision that follows a similar move by Freddie Mac earlier this month.
June 23 -
Glen Burnie Bancorp in Maryland has hired an executive from Patapsco Bank to be its new chief financial officer.
June 23
