Consumer lending

The Consumer Financial Protection Bureau is about to issue new rules that will define the future of small dollar and non-prime lending in our nation.

For the benefit of consumers who rely on nonprime credit and the lenders that provide it, Consumer Financial Protection Bureau rules offering clarity and consumer protections can't come soon enough.

GOP lawmakers and witnesses at a Senate Banking Committee hearing pointedly criticized the Consumer Financial Protection Bureau on Tuesday, setting the stage for a likely contentious hearing with the agency's director later in the week.

Ally Financial announced Tuesday that it had agreed to buy the online brokerage firm TradeKing Group for approximately $275 million. TradeKing, based in Fort Lauderdale, Fla., has roughly $4.5 billion in client assets.

ITT Technical Institute exaggerated its job-placement rates by counting "any job graduates got that somehow involved the use of a computer" and misled prospective students about the quality of its programs, according to a lawsuit filed Monday.

A federal judge in Michigan has dismissed a proposed class-action lawsuit accusing debt buyer Encore Capital Group of suing consumers over old debts that were no longer legally enforceable.

Two appeals court judges raised constitutional questions Monday about the structure of the Consumer Financial Protection Bureau in the agency's case alleging that PHH Corp. accepted illegal kickbacks.

Hammond-Henry Hospital in Geneseo, Ill. filed a seven-count lawsuit in Henry County (Ill.) Circuit Court alleging breach of contract by collection agency Allied Business Accounts, doing business as Health Care Billing Services.

The FTC has published a reminder to debt collectors about Fair Debt Collection Practices Act compliance risks created by the use of social media or text messages in connection with debt collection efforts.

The Consumer Financial Protection Bureau has amassed more than $300 million in its consumer relief fund, nearly double the amount from a year earlier - sparking questions about why the fund is so large.