Consumer lending

Automobile lending reached its highest level ever at the end of the third quarter while showing few signs of credit weakness, the credit bureau Experian reported Wednesday.

Automobile lending reached its highest level ever at the end of the third quarter while showing few signs of credit weakness, the credit bureau Experian reported Wednesday.

The FTC and other law enforcement officials across the U.S. announced Wednesday the first coordinated federal-state enforcement measure targeting deceptive and abusive collection practices. "Operation Collection Protection" could signal that regulators will be more aggressive, but also forthright about pursuing the industry.

Consumers' average daily spending in October totaled among the highest amounts this year and more than reports for October dating between 2009 and 2012, according to Gallup’s latest daily spending poll results.

The Federal Trade Commission’s news conference set for Wednesday concerning a debt collection law enforcement initiative reportedly involves unveiling a new national plan to stop nefarious debt collectors.

The CFPB has revised the process by which companies can appeal a supervisory action. The changes were mentioned as part of the agency's Supervisory Highlights report, which focused on concerns in the servicing of student loans and mortgages as well as debt collection and credit reporting problems.

The FTC will host a news conference in Washington, D.C., at 12:30 p.m. Wednesday to announce what the agency is calling a "major law enforcement initiative" involving the debt collection industry.

The CFPB has released its monthly report on consumer complaints. The latest report highlights consumer complaints related to credit cards as well as consumer complaints from the Chicago metro area.

In what could be seen as another salvo in the battle between fintech "distruptors" and more traditional financial institutions, five large technology companies — Google, Amazon, Apple, PayPal and Intuit — have formed a lobbying and advocacy group dedicated to financial issues.

JPMorgan Chase & Co., the nation’s largest bank by assets, will pay $100 million to settle a California lawsuit alleging it used illegal methods to collect debts from more than 125,000 credit card holders.