Consumer lending

Complaints filed with the CFPB against collection agencies jumped in March while district court numbers revealed an uptick in lawsuits

A measure of consumer credit defaults released Thursday by S&P Dow Jones and Experian shows a slight downward movement.

A federal court has halted a sham operation that promised homeowners to help get their mortgages modified but instead allegedly stole their mortgage payments, thus ushering some deeper into foreclosure and bankruptcy.

The Consumer Financial Protection Bureau is preparing to take the next step in its quest to create new rules for the short-term credit market.

Lawsuits filed against debt collectors have been dismissed in two federal district courts with the decisions holding that filing proofs of claim in bankruptcy cases on time-barred debt is not actionable under the FDCPA.

A GOP-led measure would have forced the Defense Department to do more study before finalizing regulations on high-cost loans to service members. It was quashed when five Republicans voted with Democrats on the House Armed Services Committee.

ACA International is supporting legislation and policy changes designed to help stop "Operation Choke Point" - the program in which the FDIC and Department of Justice reportedly applied pressure to financial institutions to cut off services to certain licensed, legally operating industries.

Financial industry groups are supporting the effort to stop the Pentagon from issuing new regulations on high-cost lending this year, while congressional Democrats and consumer groups are decrying it.

A bill easing restrictions on the collection efforts of debt buyers won the endorsement of North Carolina's Senate Judiciary Committee in a voice vote Tuesday.

Regions Financial will pay a $7.5 million fine after the Consumer Financial Protection Bureau said it charged consumers illegal overdraft fees on checking and payday-loan-like accounts.

The loss of a key partnership with General Motors has left Ally Financial searching for new revenue streams. In the short term, the bank has ramped up its subprime auto lending, but to sustain its growth it must "get more out of customer relationships," says CEO Jeffrey Brown.

Student advocates and lawmakers are renewing calls for loan forgiveness after Corinthian Colleges’ announcement Sunday that it will close its remaining campuses.

Debt sales are broken. Brokers, buyers and sellers offer books of debt that may be double- or triple-sold, lack documentation, or even be illegally originated.

As a pawnbroker for over 26 years and a former president of the National Pawnbrokers Association, I am alarmed and dismayed by the recent wave of banks terminating their relationships with pawnbrokers.

Abandoned homes in New York City that are stuck in foreclosure proceedings jumped 38% rise in 2014. State officials are pushing for legislation to make banks and mortgage lenders more responsible.

Corinthian Colleges, the for-profit chain of colleges under fire in the last year for leaving students with unsustainable debt levels and lackluster job prospects, announced it's shutting down its remaining 28 campuses effective Monday.

Millions of dollars spent on software upgrades are worth the hit to short-term profits, executives at the Buffalo bank said, because it will be able to run deeper credit profiles of borrowers.

In China, a new report from PwC, indicates banks are dealing with a surge in bad loans as a result of slowing economic growth.

Debt-buying giant PRA Group Inc., which purchases consumer debt from banks and other creditors, has named Deborah Cassidy as its chief information officer.

The Federal Trade Commission and the Office of the New York Attorney General will host an event on June 15, in Buffalo, N.Y. to discuss consumer protection issues with the debt collection industry.