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NY Regulators Closing Key High-Interest Loan Loophole
Regulators in New York plan to crack down on high-interest loans made to military service members by closing a critical loophole.  more »
SEAT AT THE TABLE: "One of the expectations of today's CRO is that we have the proper stature in the company that we have access to all of those [strategic] decisions," said Regions Financial Chief Risk Officer C. Matthew Lusco.
Last year Regions Financial considered a deal to provide financing to the consumer lender GreenSky Credit. But a key obstacle was satisfying the concerns of C. Matthew Lusco. more »
Demand for automobile debt in the U.S. is enabling lenders to make longer loans to people with spotty credit, stoking concern that car shoppers are being lulled into debt loads they won't be able to sustain. more »
A national publication on Monday published an article with strategies for consumers dealing with debt collectors. Collections & Credit Risk encourages readers to tell us what you think of the story as well as the mainstream media's recent overall portrayal of the collection industry. more »
More than 1.5 million home buyers negatively impacted by the financial crisis could re-enter the mortgage market in the next three years, according to a study that also looked at how big of an impact the mortgage crisis had on consumer credit scores. more »
Equifax Inc. announced Monday that it’s working with Credit Builders Alliance to help Americans who are considered to be “credit invisible.” more »
A study of the top five U.S. auto insurers found an average 49% difference in premium costs for someone with an excellent credit score compared with someone with no credit history. more »
A watchdog group is proposing a ballot measure that would impose a cap on interest rates charged by the lenders. more »
The Consumer Bankers Association praised banks' discipline on managing credit quality for student loans after a report showed a drop in delinquencies. more »
BIG CHALLENGE: Banks with less than $1 billion in assets often struggle to have the right amount of in-house talent to handle internal audits, said Douglas Manditch, CEO of Empire National Bank.
Community banks are facing tough choices when it comes to using outsourced labor or beefing up their own staff to handle risk-management tasks. more »
The Consumer Financial Protection Bureau fined RPM Mortgage and CEO Rob Hirt $20 million for illegally paying bonuses and higher commissions to loan agents to lead people into more expensive loans. Hirt said the company did nothing wrong. more »
Lenders are reporting stronger demand for commercial and private lending over the past two months, according to a report released Wednesday by the Federal Reserve Board, continuing a trend of mild-to-moderate improvement in banking fundamentals in recent quarters. more »
Signe-Mary McKernan
The link between debt in collections and local conditions such as access to health insurance and housing markets is strong, according to Signe-Mary McKernan, senior fellow and Co-Director Opportunity and Ownership Initiative at the Urban Institute. more »

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