Federal and state regulators have obtained $92 million in debt relief from Colfax Capital Corp. and Culver Capital LLC, collectively known as Rome Finance, for service members and others harmed by a predatory lending scheme.
Since the collapse of the subprime mortgage market, lenders have all but stopped offering loans that sound too good to be true. But that's not the case with subprime automobile loans, which lenders continue to market aggressively to consumers with imperfect credit.
If there's one lesson bankers can take away from the hacking incident at online ticket seller StubHub, it's that they need to educate their customers about the dangers of using the same passwords on multiple sites.
A Government Accountability Office report on medical credit cards and related products follows a request from lawmakers who have expressed concerns about medical debt and predatory lending against people with no insurance or not enough insurance.
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.