Consumer lending

TCF Financial in Wayzata, Minn., reported higher profits on lower provision costs and a pickup in lending in the fourth quarter.

DeVry Education Group responded Wednesday to a complaint filed by the Federal Trade Commission alleging that consumers were deceived about the chances of students finding jobs in their areas of study.

Chargeoffs jumped 13% at the Dallas lender, and its warning that they could increase further because of deterioration in subprime auto lending set off alarm bells about the broader consumer finance market.

The FTC has filed suit against the operators of DeVry University, alleging that DeVry’s advertisements deceived consumers about the likelihood students would find jobs in their fields of study and would earn more than those graduating with bachelor's degrees from other institutions.

TransUnion’s first-ever personal loan forecast found that both secured and unsecured loans will see balance increases and stable delinquencies this year. The strong performance is expected as the popularity for the products continues to rise among prime consumers.

Navient, a loan management, servicing and asset recovery company that services approximately $300 billion in student loans, released fourth-quarter and full-year financial results that reveal total delinquency rates are at the lowest levels in a decade.

RealtyTrac on Wednesday released its Year-End 2015 U.S. Home Equity & Underwater Report, which shows that there were 6.4 million U.S. properties seriously underwater - where the combined loan amount secured by the property is at least 25% higher than the property’s estimated market value.

Santander Consumer USA Holdings on Wednesday reported a sharp drop in profits, due to losses tied to its exit from personal lending.

A racketeering lawsuit against Sherman Financial Group, one of the country's largest debt buyers, can't move forward as a class action, a federal judge in Indianapolis has ruled.

A federal appeals court will hear the case of mortgage lender PHH Corp. v. CFPB on April 12, a case the collection industry will be closely watching.