Consumer lending

In a major setback for banks, credit unions, credit card companies and many other financial firms, the Consumer Financial Protection Bureau on Thursday issued a proposal that would ban the use of arbitration clauses that prevent consumers from bringing class-action lawsuits.

ACA International, the largest association representing collection agencies, has released a white paper that directly responds to the CFPB's March report that focuses on collection complaints.

A phone billing company will pay $5.2 million to resolve Federal Trade Commission charges that it violated a court order that settled earlier charges of phone bill cramming by the FTC.

Consumers are boosting the balances of their personal savings accounts and are also more likely to rollover their monthly credit card balances, according to the 2016 Consumer Financial Literary Survey.

The Federal Trade Commission filed charges Tuesday against the operators of a large-scale scheme involving dozens of companies that allegedly bilked consumers using fake newspaper subscription notices.

LifeLock Inc., an identity theft protection company that settled federal court order contempt charges for $100 million in December, has ramped up internet advertising, TV ad campaigns and direct mail programs to try rebuilding its service and attract new consumers.

PRA Group, a Norfolk, Va.-based debt buyer, announced the creation of a new leadership position - vice president, Office of the Consumer.

A federal court found BlueHippo Funding LLC, BlueHippo Capital LLC and Joseph Rensin in contempt for operating an allegedly deceptive computer financing scheme in violation of a court order the defendants agreed to in 2008.

With an improving economy, higher-quality originations and declining delinquencies, the market for mortgage servicing rights is catching fire.

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.