Consumer lending

WASHINGTON — State regulators and House lawmakers warned the Consumer Financial Protection Bureau not to preempt state laws when the agency issues its proposal to regulate payday-type loans.

Capital Payments LLC, an Independent Sales Organization (ISO), has agreed to settle Federal Trade Commission charges that it allowed a telemarketing scheme called The Tax Club to use merchant accounts to process consumers’ credit card payments.

TransUnion has acquired a 71% ownership interest in CIFIN (Central de Informacion Financiera), one of two primary credit bureaus in Colombia, for approximately $127 million.

The Detroit company is plowing ahead with its growth strategy at a time when some shareholders are agitating over its sagging share price.

In an interview, Comptroller Thomas Curry expressed concern about eroding loan standards and the potential for crippling cyberattacks. But he also argued that the industry is much stronger than it was a decade ago.

The percentage of auto loans to buyers with the poorest credit ratings is growing faster than the rest of the auto finance market, according to an analysis from Experian Automotive.

U.S. authorities cracked down on two major payday lending empires Wednesday, arresting three people tied to the industry, including race car driver Scott Tucker.

WASHINGTON — The flood of new apartments will put upward pressure on vacancy rates in the next two years, but the multifamily market should stay strong, according to a new Freddie Mac forecast.

The CFPB is reporting on a financial scam targeting older consumers who previously were victims of fraudulent money-making schemes such as timeshare investments and in-home business opportunities.

Sen. Bernie Sanders' victory in the New Hampshire primary will undoubtedly provide fresh momentum for his campaign against Hillary Clinton, but is also likely to subject many of his proposals to a harsher spotlight as his credibility as a candidate grows.

Three in four lenders said it is increasingly difficult to find and acquire new customers and that they’re challenged by a low interest rate environment that’s spurring competition for a pool of consumers who receive multiple credit offers, according to a TransUnion survey.

Outstanding revolving debt, including ongoing lines of credit used by consumers, jumped to $935.6 billion as of December from $841 billion in 2010, according to data from the Federal Reserve and a report from ValuePenguin.

Outstanding automotive loan balances rose 11.5% from a year earlier in the fourth quarter, Experian Automotive said Tuesday.

A new breed of tax refund anticipation loans is testing that age-old maxim, with supporters saying that free really does mean free and critics suggesting that the products' 0% interest rates are masking the actual costs.

Stephen Steinour, chief executive of Huntington Bancshares in Columbus, Ohio, has pursued a risky strategy of taking losses in exchange for adding new customers, the Cleveland Plain Dealer reported.

U.S. consumers in December increased their borrowing at the fastest pace in three months. The result suggests that consumer spending should remain strong in the coming months.

Louisiana’s Office of Motor Vehicles has recovered $22.5 million of the projected $444 million owed to the agency as a result of residents with lapsed auto insurance. But some drivers believe the state’s Office of Debt Recovery is being too aggressive.

The White House and other Democrats have long pushed for banks to offer affordable small-dollar loans as an alternative to payday loans and other costlier credit, but banks have struggled to make them profitable and safe for consumers.

U.S. bankruptcy filings reached 52,522 in January, 11% lower than 59,092 filings in January 2015, according to the American Bankruptcy Institute, which used data from Epiq Systems Inc.

An ordinance in Killeen, Texas limiting payday lending businesses will be reviewed Tuesday by the Killeen City Council.