Consumer lending

The U.S. Department of Education has changed the student loan default rates at 21 colleges to allow them to continue receiving federal funding.

Forty percent of newly married people who responded to an Experian survey on finances reported they did not know their spouse’s credit score. One in three said their spouse’s spending habits were not what they expected.

An Oregon lawmaker wants to revive a bill next year that would make it easier to locate debtors who collectively owe the state more than $3 billion in back taxes and other debts.

While it is true that more consumers complain to the Consumer Financial Protection Bureau about their mortgages, the data still reinforces the idea that overdraft fees are more high-cost credit than protection.

The Consumer Financial Protection Bureau on Thursday unveiled new disclosures for federal student loans that would require servicers to offer borrowers several repayment choices.

The latest U.S. Economy in a Snapshot report from the Federal Reserve Bank of New York reveals consumer spending increased slightly in February.

Students used to leave college with two artifacts of their first experiments with credit — free T-shirts and, for better or worse, a credit file. Today they are leaving without either.

The Consumer Financial Protection Bureau is set Thursday to propose new disclosures for federal student loans that would require servicers to provide several repayment options for borrowers.

Big banks began ceding market share to midsize and small subprime auto lenders, who they said were taking too many risks. Now prominent midsize player Santander Consumer is putting on the brakes and complaining about small, overly daring rivals. How bad a sign is that?

The potentially wide-ranging effects of an appeals court decision in Midland Funding v. Madden could deal a serious blow to preemption under the National Bank Act.

A federal judge granted the Federal Trade Commission’s request for summary judgment in the agency’s lawsuit against Amazon Inc., alleging the company billed consumers for unauthorized in-app charges incurred by children.

Profits fell double digits at Santander Consumer USA Holdings in Dallas in connection with its exit from the personal loan business and other nagging issues.

Debt-buying giant PRA Group Inc. announced Wednesday the completion of its public tender offer to purchase shares of Warsaw, Poland-based DTP S.A., a mid-size debt buyer and collection agency active in Poland.

The U.S. District Court for the Eastern District of Texas has granted the government’s motion for summary judgment against Texas-based collection agency Commercial Recovery Systems Inc. and its president, Timothy Ford.

Ally Financial reported strong loan and deposit growth in the first quarter, but a shift in the makeup of its automobile loan portfolio forced the Detroit company to nearly double its loan-loss provision from a year earlier.

Pressler and Pressler responded to the CFPB's legal action announced Monday. The law firm points out that the settlement ultimately involves no consumer redress or restitution, no invalidation of judgments and no findings of the use of improper affidavit practices.

The CFPB ordered New Jersey-based collection law firm Pressler and Pressler LLP and debt buyer New Century Financial Services Inc. to stop churning out collection lawsuits allegedly based on nonexistent or flimsy evidence.

The prepaid card industry is ramping up its advocacy efforts on Capitol Hill as the Consumer Financial Protection Bureau readies a final rule targeting such products.

The expansion of Medicaid under the Affordable Care Act is reducing medical debt in collections for some low-income consumers, according to a study from the National Bureau of Economic Research (NBER).

Over the past year, threats of steep downgrades have chilled secondary investor demand for federally guaranteed student loans, but two recent securitizations suggest that the market is beginning to thaw.