The overseer of the Federal Home Loan Banks is planning changes to membership rules that would keep investment firms and lenders lacking customer deposits out of the U.S. government-chartered system. News
Just a year away from graduating with $ 23,000 in student loans, Leah didn’t know how she was going to make her payments. They were a constant source of stress in her life; she would lie awake at night thinking about how she was going to pay off her student debt. She was worried about [...]
The Federal Housing Finance Agency issued a proposal Tuesday designed to exclude captive insurers from the Home Loan Bank system. News
Legislation aimed at allowing student loan borrowers to refinance their debt will return to the Senate floor for a second vote next month. Collections - Other Consumer
The proposed merger of the Home Loan banks in Seattle and Des Moines could spur massive consolidation among their sister banks, but only if the two show it's possible to overcome governance and other logistical challenges that have deterred similar deals. News
U.S. banks spent much of the last five years grappling with the legal fallout from the subprime housing bubble. Now, with the launch of a surprise inquiry by a hard-charging federal prosecutor in New York, lenders are wondering if subprime auto loans are next. Collections - Other Consumer
Total outstanding U.S. auto loans reached a record high of $ 902.2 billion through April, an increase of more than 10% from the same time a year earlier, according to the latest Equifax National Consumer Credit Trends Report released Thursday. Collections - Credit Card
Missouri regulators are weighing whether to stop a practice in the state of allowing payday lenders to collect utility bill payments from customers. Collections - Other Consumer
Illinois Attorney General Lisa Madigan filed lawsuits Monday against two student loan servicers, alleging the unlicensed companies imposed illegal fees on delinquent student loan borrowers and deceptively marketed debt solutions. Collections - Other Consumer
Nonbank mortgage lenders pose greater risks to Fannie Mae and Freddie Mac because they have limited government oversight and generally weaker finances than banks, according to a government watchdog report. News
