Links in “Banks”
- Greater Link Between Credit Scores and Homeowner Insurance Rates
Insurers are putting greater emphasis on consumer credit scores. In fact, consumers with poor credit can pay twice as much for homeowner insurance than those with stellar credit. [8/27/15]
- What Can Be Learned From Auto Dealer Fair Lending Practices
When it comes to discretionary markups on auto loans, nonbank finance companies are hunkering down for some heavy-duty CFPB scrutiny. Here are some steps the smart ones are taking now to avoid getting in fair lending hot water due to, for example, a subsequent analysis that indicates average financing compensation that is 20 basis points higher for a minority group than for a non-Hispanic white consumer group. [8/27/15]
- Credit Report Complaints Surge 56% in July
The number of complaints skyrocketed over the previous month. The CFPB is taking notice. "The bureau will continue to work to ensure that credit reports are fair, accurate, and available to all consumers." [8/26/15]
- Do You Mobile? Now One in Seven Says Yes
Survey finds one in seven Americans have deposited a check using a mobile device within the past year, up from one in eight last year. [8/26/15]
- Buffalo Home Target of Community Shame Campaign Against Bank of America
The owner of 20 Sidway St. in Buffalo, New York died in 2007. Foreclosure proceedings were initiated in 2010, then the judgment was vacated and the process started over again. The house remains vacant. Except now there is a sign in the front lawn imploring Bank of America to "be a good neighbor" by completing the foreclosure process. It's the beginning of what is intended to be a "shame campaign," which will also include pickets and boycotts, against banks with zombie properties throughout the city. [8/26/15]
- Scholars Find More Holes in CFPB Arbitration Study
Here's a break down of a critique of the CFPB's study on consumer arbitration. This critique was published by two university professors, who found that "the CFPB's findings actually undermine several key arguments that are often asserted to justify restrictions on arbitration." [8/26/15]
- A Remittance Transfer Refresher
Billions of dollars are transferred out of the country every year. But even with such high traffic, there is still quite a bit of bewilderment surrounding the roads of remittance transfers. This confusion comes with good reason; remittance has many rules and is closely regulated. [8/25/14]
- Where’s the Line on Marketing Services Agreements?
Are all marketing services agreements illegal? If so, then why does the CFPB let some companies off with no penalties, while it throws the book at other companies? [8/25/15]
- CFPB Goes After Nation’s Top Student Lender
Navient, which processes more student loan payments than any firm in the country, is under investigation for allegedly overcharging borrowers and numerous dodgy practices, such as the way its debt-collection unit treats distressed debtors and how its loan-servicing operation interacts with borrowers. [8/25/15]
- Dodd-Frank at 5: As Divisive as Ever
As the 2,239-page law reaches its fifth anniversary, time hasn't healed the divide, but only served to further amplify its divisiveness. [8/24/15]
