$27.7M Judgment Against Foreclosure Relief Scam Companies
The Consumer Financial Protection Bureau and the state of Florida were granted a final judgment against the Hoffman Law Group and corporate affiliates accused of using deceptive marketing practices and scamming homeowners into paying illegal advance fees.  more »
Bloomberg News
More than 71 million consumers had an auto loan in the first quarter, an increase from a year earlier and the largest growth since the economic downturn, according to a new report. more »
The Consumer Financial Protection Bureau officially delayed issuing new debt collection rules until at least December, after originally expecting “pre-rule activities” to last through this past April. more »
Some potential corporate customers of the nation's largest banks have recently received surprising responses to their loan applications: come back to us later when you've cleaned up your act. more »
U.S. Bank and Bank of America won't have to face lawsuits claiming they failed to safeguard the interests of investors as required by their contracts. more »
A proposal issued Friday by the Department of Education would tighten rules on the types of deal that colleges can enter into with banks to disburse federally guaranteed loans to students. more »
A new study on student loans runs counter to the popular belief that rising student loan debt is hurting the ability of young adults to access credit. more »
Nationwide Biweekly Administration, Loan Payment Administration and Daniel Lipsky - the owner of both companies - are named as defendants in a Consumer Financial Protection Bureau lawsuit that accuses the firms of deceptive mortgage practices. more »
Fannie Mae, the mortgage-finance company operating under U.S. conservatorship, will pay the Treasury Department $1.8 billion after reporting net income of $1.9 billion for the first quarter. more »
A new analysis of college debt levels details how an income-based student loan repayment system could help borrowers. more »
Joann Needleman, current president of the National Association of Retail Collection Attorneys, has joined national law firm Clark Hill PLC. more »
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. more »
Student advocates and lawmakers are renewing calls for loan forgiveness after Corinthian Colleges’ announcement Sunday that it will close its remaining campuses. more »

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