Consumer lending

An estimated 12 million Americans buy used cars through informal channels each year. Those consumers are underserved by traditional auto lenders, says Lending Club Chief Executive Renaud Laplanche.

Millennials are beginning to take on more auto and student loans but are lagging in their use of credit cards and are slower to build some types of credit compared to Generation X and Baby Boomers, a report from Experian reveals.

The appearance of consumers’ account numbers on the outside of envelopes containing letters from collection agencies does not violate the FDCPA, two New York federal judges ruled in separate cases.

The National Credit Union Administration's plan to liberalize its rule governing member business lending has touched a raw nerve inside the community banking industry.

A Consumer Financial Protection Bureau plan detailing ways to protect consumers from payday lending "debt traps" has earned widespread support from Americans, according to a survey by Pew Charitable Trusts.

Financial institutions that make routine collection calls now face the threat of "robocall" class action lawsuits. Earlier this month, things went from bad to worse for banks that have not committed any abusive robo-calling practices.

Santander Consumer USA Holdings expects to endure more credit losses in the coming quarters, as it expands its portfolio of higher yielding, subprime loans. But its CEO sought to assure investors that its profits would far exceed those costs.

Mortgage servicer Residential Credit Solutions agreed Thursday to pay $1.5 million for blocking consumers’ attempts to keep their homes from foreclosure.

The FTC is mailing nearly $1 million to people who lost money in a credit card interest rate reduction scam.

Santander Consumer USA Holdings in Dallas reported higher profits due to a spike in gains on loan sales.

A new Government Accountability Office report found that the Internal Revenue Service’s uncollected tax debts rose 23% since 2009 to $380 billion while the agency’s collection staff fell 23% during the same period after years of budget cuts.

A House Subcommittee on Communications and Technology hearing on the FCC's policy decisions prompted a discussion on the application of rules regarding robocalls.

One of the nation's largest non-profit colleges is facing an FTC investigation for allegedly deceptive marketing practices.

TransUnion Corp. reported its second-quarter revenue increased 16% in the company's first quarterly financial report since its initial public offering.

West Virginia Attorney General Patrick Morrisey is looking into hiring a lawyer licensed in California to collect a $13.8 million judgment against loan company CashCall Mortgage.

The auto lender, which has been operating under tight regulatory restrictions since its bailout during the financial crisis, will now be allowed to use its federally insured deposit base to fund more of its loan portfolio.

The Consumer Financial Protection Bureau on Tuesday charged Paymap Inc. and LoanCare LLC with deceiving consumers.

Some Democratic lawmakers want to help consumers fight back against creditors. The Consumer Reporting Fairness Act, introduced by Sen. Sherrod Brown, D-Ohio, would make it easier to fix inaccurate credit reports.

Professional race car driver Scott Tucker is working on settling a Federal Trade Commission lawsuit accusing him of involvement in a payday lending scheme.

The House Financial Services Committee is meeting Tuesday to begin voting on several bills that are part of ABA’s Agenda for America’s Hometown Banks.