Links in “Banks”

Fraudsters are targeting older consumers who have already lost money in previous fraudulent schemes with bogus asset-recovery promises that require a hefty upfront fee. [2/12/16]

Shockingly, only 17% are familiar with the term! (We confess, we had to look it up, too.) [2/12/16]

In 2007, banks held the lion share of the market as measured by assets (93% by banks, 7% by credit unions). What did the market downturn do to those numbers by 2015? [2/12/16]

Turnkey program offers materials addressing how to identify and avoid scams aimed at seniors, protecting seniors from identity theft, how to choose a financial caregiver, and more. [2/11/16]

Here's a report that says the CFPB is preparing to find ways to encourage banks and credit unions to offer small-dollar "rescue" loans, the type of loans other regulators have found to be risky and fraught with fair lending risks. [2/11/16]

The operators of the infamous Dyre banking trojan are either lying low or have been busted. But not to worry -- there are plenty of other malware tools with the potential to cause equal trouble for customers of banks worldwide. [2/10/16]

"Rocket Mortgage: Let's do the financial crisis again, but with apps!" was one tweet from the economic commentariat about the controversial Superbowl ad. But Quicken Loans counters that it's not about lowering credit standards, it's about making the process of applying for a loan easier. [2/10/16]

The Obama administration's proposal to offer small-dollar loans through Community Development Financial Institutions is an effort to recognize the short-term liquidity needs of low- and moderate-income families. But what the administration overlooks, according to the CBA, is that the government has essentially eliminated a very popular bank product that helped many of these working families make ends meet. [2/10/16]

After settling with the CFPB and Department of Justice, Toyota Motor Credit Corporation issues a statement that it "respectfully disagrees" with the agencies' disparate impact methodologies to determine whether industry lending practices have been discriminatory. The methodologies included using the Bayesian Improved Surname Geocoding proxy methodology to find that African-American and/or Pacific Islanders were charged higher dealer markups than similarly situated white buyers. [2/9/16]

Wells Fargo will pay $16 million to 9,000 customers who were victims of a scheme in which Genuine Title offered "valuable services" to loan officers who referred customers to them for closing services. [2/9/16]