Retail & Commercial

Independent lenders rebut suggestions that they pose a greater risk to FHA (and hence taxpayers) than the large banks.

The $5.8 billion First Financial said in a press release Wednesday that it will pay $1.9 million in cash for 4Trust Mortgage in a deal that should close next month.

WASHINGTON — The Consumer Financial Protection Bureau has filed a massive lawsuit against more than a dozen debt collectors, payment processors and related entities that the agency said failed to stop fraudulent collection tactics.

The agency announced Wednesday it had filed a massive lawsuit against more than a dozen debt collectors, payment processors and related entities that the agency said failed to detect fraudulent collection tactics. By including processors in its suit, observers said the CFPB's move resembles the Justice Department's Operation Choke Point.

The state's banking lobby is opposing a bill that would make it easier for thrifts to hold municipal deposits because the proposal would also let credit unions go after the same business.

The Topeka FHLB's plan to allow participations in newly issued mortgage pools may benefit members institutions and the bank itself – and could soon be imitated by other Home Loan Banks.

Consumer borrowing to a record high in February, fueled by a large jump in auto and student loans. The value of non-revolving debt climbed by the most since July 2011.

Ninety-two percent of Americans are "very or somewhat confident" in their most recent big financial decision - such as picking a credit card, buying a car or refinancing a mortgage, according to a survey by the National Foundation for Credit Counseling and NerdWallet.

Washington Attorney General Bob Ferguson is suing Student Loan Processing and owner James Krause for allegedly charging consumers in the state “exorbitant and illegal” fees to help with their student loan debt.

Pinnacle Financial Partners in Nashville has agreed to buy CapitalMark Bank & Trust in Chattanooga, Tenn.