Consumer lending

Lawsuits can be costly and time-consuming for all parties, so many plaintiffs’ attorneys are now trying to win quick settlements for their clients by bombarding banks with letters simply threatening them with lawsuits. One plaintiffs’ attorney admits to sending 250 such letters a month.

The decisions by JPMorgan Chase, Fifth Third and other banks to keep subprime auto lending in check look wise after new delinquency data from the New York Fed.

Ally Financial in Detroit has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime residential mortgage-backed securities in 2006 and 2007.

Applicants for credit cards, auto loans and mortgages are more frequently being told "No," and the reason appears to be more about lenders' new marketing efforts than stricter underwriting or weaker credit profiles.

The Consumer Financial Protection Bureau's contentious rulemakings on arbitration and payday lending may be in jeopardy with the change in administrations and continued GOP control of Congress.

To jawbone Mexico into paying for the wall, President-elect Trump has threatened to suspend remittances. Such a move would disrupt one of the busiest corridors of money in the world.

Voters in South Dakota on Tuesday overwhelmingly approved a measure to cap interest rates on payday, installment and auto title loans at 36%, while rejecting a competing amendment sponsored by a large payday lender.

Depending on the outcome of the election, the fight over two conflicting state ballot initiatives could provide a road map for the embattled payday lending industry or consumer activists seeking bans in other states.

The Consumer Financial Protection Bureau and the New York Attorney General filed a lawsuit Wednesday against two New York debt collectors for deceiving and harassing millions of consumers to pay inflated debts.

Ally Financial, one of the nation's largest automobile lenders, saw profits fall during the third quarter as more motorists fell behind on their car payments.