Consumer lending

A federal district court handed the Consumer Financial Protection Bureau a major victory this week by ruling that the online loan servicer CashCall engaged in unfair, deceptive and abusive practices by using a "tribal model" to collect on loans in states with usury caps.

Industry fears about the Consumer Financial Protection Bureau's "UDAAP" authority recall steps Congress took in the '70s to rein in the Federal Trade Commission.

Ford Motor promoted veteran executive Joy Falotico to lead the Ford Credit lending unit, making her the first woman to run the operation that provides financing to auto buyers and dealers worldwide.

This latest offering from Chase, the U.S. consumer and commercial banking arm of JPMorganChase & Co., is in partnership with digital car-buying service TrueCar.

Until recently, credit unions rarely used arbitration clauses, and were praised by consumer advocates for pro-customer practices. But credit unions have learned to embrace the use of arbitration clauses – and now oppose the Consumer Protection Bureau’s plan to rein them in.

Santander Consumer USA Holdings again delayed its second-quarter results and financial statement due to ongoing discussions with federal regulators about accounting issues.

Some observers are concerned that borrowers in energy-dependent regions, in an effort to compensate for pay cuts, are becoming overleveraged. But lenders say they are being prudent.

Payday lenders are pushing into more states with longer-term installment loans or lines of credit, a shift that is expected to accelerate with the Consumer Financial Protection Bureau's plan to regulate small-dollar loans.

A single paragraph in a lawsuit filed by the Consumer Financial Protection Bureau is sparking fears by third-party payment processors that the agency is quietly and significantly expanding its authority over the industry.

During a conference call with analysts on Thursday, executives at Ally Financial sought to dispel concerns that losses may soon rise in the lender's $63 billion retail auto loan portfolio.

The Consumer Financial Protection Bureau added its voice Tuesday to a chorus of other regulators in calling for sustainable foreclosure relief when the Home Affordable Modification Program expires at yearend.

The linchpin of the federal government's payday lending proposal is a credit-reporting system for small-dollar loans created by the private sector, but the kinds of companies that could create it haven't stepped forward.

Banks should assess a customer's full financial picture before deciding to sell a debt to a third-party collection agent.

The Consumer Financial Protection Bureau's debt collection plan is likely to put pressure on banks and first-party creditors to provide better documentation on consumer debts that get transferred to debt buyers and collectors. While the proposal does not cover banks and first-party creditors, some experts said banks will be on the hook for providing better information.

Wells Fargo is facing a U.S. investigation into whether it improperly repossessed cars owned by members of the military, according to two people with knowledge of the probe.

The Consumer Financial Protection Bureau released a plan Thursday to overhaul the debt collection industry that would limit collection attempts to six per week and require confirmation of a debt before contacting consumers. The plan, however, is not yet directed at banks and credit card companies.

More than 40% of consumers with complaints about debt collections say they were asked to pay debts they didn't owe. There are a host of reasons for the problem, including inscrutable legal disclosures.

The Consumer Financial Protection Bureau is set to unveil a sweeping proposal on debt collection practices this week that would force banks and credit card companies for the first time to comply with federal restrictions. It said the plan would put an end to some of the most egregious practices in the $13.7 billion debt collection industry.

Ally Financial in Detroit swung to a profit in the second quarter as a tax benefit outweighed the costs of insurance payouts on hailstorm-damaged vehicles.

Santander Consumer Holdings USA on Monday delayed the release of its quarterly results amid ongoing accounting woes.