Public feedback is being sought by CFPB on “industry practices that create repayment challenges, hurdles for distressed borrowers and the economic incentives that may affect the quality of service.” The public comment period opened May 14 and will run...
For many creditworthy low- and moderate-income consumers, it’s a challenge just to get a car loan, let alone a mortgage loan. And yet, for the housing market to work for everyone, a new way for determining creditworthiness for these...
But now, the small-business backbone of the economy is slowly rising to the occasion, often with the assistance of state governments. Here’s one such example from the state of Washington: The Small Business Retirement Marketplace, signed into law last...
I want all children to have the same opportunities that Joel had to attend and graduate from college without being saddled with debt that could inhibit future opportunities. Higher education is often the best path out of poverty and...
Rep. Elijah Cummings, D-Md., whose district includes the epicenter of the unrest in west Baltimore, said during a forum in that city May 11 that the lack of traditional banking services in the affected communities is a key cause...
Many colleges enter into marketing agreements with banks to promote their banking services on campus, often in exchange for financial benefits for the schools. These agreements may include provisions requiring students to receive federal aid disbursements on the banking...
A proposal to relax federal standards in mortgage lending and bank regulation could undo years of work to enhance consumer protections and prevent financial crises. U.S. Senate Banking Committee chairman Richard Shelby (R-AL) proposed legislation that would change criteria...
The selected areas all have a concentrated supply of what the Woodstock Institute — a Chicago-based research and financial advocacy organization — calls “zombie properties.” Those are properties in which a foreclosure case “has been filed but not resolved...
Kramer made his first appearance Thursday before a county board committee in more than two months. It was a gesture toward burying the hatchet of blame associated with losing a $2.5 million contract earlier this year to house federal...
DIGGING INTO DIPLOMAS: The U.S. is on track for a 90 percent high school graduation rate by 2020 after hitting a record high 81 percent this year. That’s according to the GradNation campaign’s sixth annual report released by America’s...