Links in “Banks”

ABA issues its recommendations for how the CFPB could improve its proposed debt collection survey, from distinguishing between creditors collecting their own debt (as opposed to third-party collectors) to shortening the list of 77 questions. [5/8]

ICBA lends its support for Community Bank Preservation Act, which would require at least one member of the Federal Reserve Board of Governors to have experience as a community banker or community bank supervisor. [5/8]

Once appraisal values could be fairly easily manipulated by lenders, which led to economic meltdowns, such as the S&L crisis of the 1990s. Has the pendulum swung too far the other way, adding unnecessary costs and delays to the lending process? [5/8]

Two debt-buying companies settle with New York for seeking court judgments against consumers after the statute of limitations on the claims had expired. The companies will pay fines and ask the courts to reverse $16 million in judgments. [5/8]

The Money Remittances Improvement Act passes in the House and is on its way to the Senate. The bill would make it easier for well-regulated non-banks, such as money services businesses, to provide remittances overseas. [5/8]

Economics professor at Samford University takes a broader look at what happens when you try to clamp down on one part of the balloon (pushing banks out of payday lending) and the air goes to the other part of the balloon (the rise of payday lenders).  [5/7]

Higher Federal Housing Administration fees are shutting out a growing number of low-income borrowers, contributing to the downturn in the housing market. The FHA provided loans to 27,100 borrowers in February, the lowest number since the onset of the financial crisis. [5/7]

Scammers posing as investigators with the Texas Attorney General's office are accessing applicant info from borrowers and threatening to issue an arrest warrant if they don't load a prepaid debit card and send it off. [5/7]

Marketers can use big data to customize their offerings to consumers, but that also leaves room for subtle and not-so-subtle forms of discrimination in pricing, services and opportunities, the White House warns in a recent report. [5/7]

While the other regulatory agencies are trying to choke off their financial institutions from making payday loans, the NCUA is encouraging credit unions to get involved in small-dollar lending. Whether it's a good business practice is still up for debate. [5/7]