Consumer lending

Sen. Jeff Merkley, D-Ore., and nine other Democrats are attempting to block a go-around they say payday lenders use to avoid complying with state laws.

Speaking before the Senate Banking Committee, CFPB Director Richard Cordray said fintech companies should be held to the same standards as depository institutions. At the hearing, Cordray fielded questions on payday loans, indirect auto lending and regulation by enforcement rather than rulemaking.

A proposed class-action lawsuit accusing collection agency LVNV Funding and law firm Eltman Eltman & Cooper of abusive collection practices can proceed, a federal judge has ruled.

Rising home values continue to provide consumers with a strong incentive to keep up with their home-equity loan payments.

Charlie Hallinan, who pioneered the tactics payday lenders have used for years to stymie state regulators, was indicted on federal conspiracy and fraud charges.

The Alabama Senate has voted in favor of legislation that would extend payday loan repayment periods to six months.

The ringleader of an identity theft scam that stole more than $457,000 from bank customers in New York will serve between 10 and 20 years in prison following his conviction on 15 counts - including grand larceny charges.

The FTC has closed the book on a fraudulent debt collection scheme that processed payments for payday loan debts they didn’t owe.

The deal to buy TradeKing would allow the online-only bank to offer wealth-building products to its roughly 1.1 million depositors. The additional low-cost deposits could also help fund loan growth as it looks to expand beyond auto lending and into mortgages and credit cards.

Officials in Pittsylvania County, Va. are seeking proposals from firms to provide collections and billing services for the county's medical transport system.