Consumer lending

A U.S. district court has dismissed a class-action lawsuit filed in February 2014 against the Pennsylvania Higher Education Assistance Agency (PHEAA) by student loan debtor Neil Silver.

The Consumer Financial Protection Bureau's upcoming proposal to regulate payday and other short-term lenders will be an important step for consumer protection, but advocates are wrong to think the CFPB's actions are intended to or will have a positive impact on the quality of credit products for the underserved.

U.S. bankruptcy filings for the first quarter ended March 31 fell 5% to 195,565 compared to 205,851 in the same period last year, according to the American Bankruptcy Institute and data provided by Epiq Systems Inc.

The impending Consumer Financial Protection Bureau proposal will limit access to payday lending but it will not enable small-dollar lending alternatives for consumers.

A federal appeals court has set the stage for yet another legal showdown over the Consumer Financial Protection Bureau's structure in a major test of the bureau's authority.

The total balance of new first mortgages originated in 2015 reached $1.82 trillion, a year-over-year increase of 42.9%, while the total number of new first mortgages originated in that same time was 7.71 million, an increase of 31.6%, according to Equifax.

A lawsuit filed by three former Hawaii Community College students last year, aimed at recovering hundreds of thousands of allegedly wrongfully collected student fees, is now set to be heard in May.

CFPB Director Richard Cordray testified before a U.S. Senate committee Thursday and was questioned about the bureau’s recent report stating service members complaints are nearly twice as likely to be about debt collection compared with the general population.

A New York man who claimed a collection agency and law firm illegally garnished his wages under a state court default judgment cannot pursue federal claims against the firms, according to a ruling Thursday.

U.S. household borrowing climbed in February compared with January, supported by financing for automobiles and college education.