Consumer lending

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.

The growth-minded regional bank is biding its time until rates rise and its M&A deals close by slowing riskier types of lending and diversifying its income sources.

Convergent Revenue Cycle Management Inc., a national healthcare revenue cycle management provider, has announced that Mark Schanck has been promoted to company president.

Navient Corp. released Q1 financial results on Thursday that include $830 million of student loan purchases, $300 million of common share repurchases and the acquisition of a new asset recovery and business process outsourcing firm focused on state and local public sector markets.

The owner of Green Tree Servicing LLC has responded to the settlement announced this week with the Federal Trade Commission and Consumer Financial Protection Bureau.

Hospital patients felt an increased financial burden in 2014 as medical costs rose while revolving credit became less available, according to a new report.

A national mortgage servicing company will pay $63 million to resolve FTC and CFPB charges that it harmed homeowners with illegal debt collection practices and loan servicing.

The Oregon House of Representatives on Tuesday is reviewing a bill that would place new, stronger requirements on debt buyers that file collection lawsuits.

AT&T and Verizon aren’t doing enough to protect customers from robocalls, according to Consumers Union, the policy and advocacy arm of Consumer Reports.

The 114th Congress is again considering legislation to allow borrowers with outstanding student loan debt to refinance at rates set for new borrowers.