Links in “Lending”

Credit unions are relying more on lending and less on long-term investments to generate income. Loan balances are up 11% from last year due primarily to an increase in auto lending. Delinquencies and charge offs are at their lowest level since 2007. [6/3/15]

The CFPB and DOJ entered into a proposed consent order with Provident Funding Associates regarding its broker compensation policy, which resulted in higher fees to minority borrowers. While rules restricting loan originator compensation have reduced pricing variations in recent years, pricing variations continue to exist. Hence, even if your lending is compliant, pricing variations must be carefully assessed for fair lending risk. [6/2/15]

Aggregate auto loan balances increased by double digits as of March 2015. Nearly every type of lending grew during the first quarter of this year. [5/21/15]

The CFPB, U.S. Department of Education, and U.S. Department of the Treasury are working together to identify ways that  student loans services can be strengthened. These agencies want your input and experiences to help them prioritize resources to assist financial service providers develop best practices. [5/21/15]

NAFCU's Carrie Hunt restated the organizations support for credit unions who work with the Small Business Administration. CUs help to provide loans to member small businesses, a letter stated in a hearing titled "Improving Capital Access Programs withing the SBA." [5/19/15]

More than 40 million Americans have student debt, with an average of $30,000 per person. This debt proves harder to payback than consumers expect. Cue the CFPB, which is stepping in to see what it can do. [5/18/15]

The CFPB's actions of late toward student lending suggest that all student borrower complaints are valid, that student loan borrowers who aren't making payments are automatically entitled to relief, and that problems in the economy making it hard for student loan borrowers to be fully employed should be resolved by loan holders. [5/15/15]

The CFPB's director says the bureau "listened carefully" to industry concerns that new integrated disclosure rules may frequently delay closings, so the bureau limited the circumstances under which such delays would occur. But here's what Cordray isn't fully taking into account. [5/14/15]

Student lending bears "an uncanny resemblance to the situation where struggling homeowners reached out to their mortgage servicers before, during, and after the financial crisis," according to CFPB Director Cordray, who launched today a review of the $1.2 trillion student debt market. [5/14/15]

The CFPB launched a new public inquiry on the experiences of people in getting student loans and paying them back. What about student loans stresses you out? [5/14/15]