Even When Credit Score Considered, Study Says Minority Loan Terms Worse
Despite having similar credit scores, borrowers living in minority or elderly areas get higher-cost loans, a study found. However, one economist disputes how much the report reflects lending today.
Borrowers at Risk of Foreclosure to Benefit from Settlement
Household announced it reached a proposed multimillion-dollar settlement with ACORN and a series of borrowers in a lawsuit relating to its U.S. mortgage lending practices.
OCC Vs. States; Opponents of Federal Preemption Talk
While some say OCCs proposal needs clarification to avoid future problems, others say it just won't work and ask for withdrawal.
North Carolina Lending Revisions Vetoed
The governor of North Carolina has vetoed a bill which would have allowed consumer finance companies to charge extra fees to borrowers.
OCC Proposes Rule on Predatory Lending
The Office of the Comptroller of the Currency this week proposed a rule regarding predatory lending by banks.
Lender to Pay Monumental Settlement
Household Financial will pay hundreds of millions of dollars to borrowers as a result of an investigation into the company's lending practices.
Comptroller Says Banks Not Really the Predatory Problem
Predatory and abusive lending is, based on the evidence, virtually non-existent in the national banking industry, the Comptroller of the Currency said Thursday.
New Jersey's Predatory Law Gets Pre-empted By OTS
Predatory lending laws set to go into effect this fall in New Jersey have lost some of their effectiveness, thanks to a ruling by the Office of Thrift Supervision.
Ratings Services Review New Kentucky Lending Laws
Two companies have announced changes in the way they will rate RMBS originated in Kentucky.
Predatory Lending Laws Get Attention of S&P
The financial analyst group held a conference call last week to discuss their approach to new legislation.
Lehman Liable in Predatory Lending Case
A federal jury has found an investment banker partially liable for a mortgage company's alleged predatory lending scheme, according to wire reports.
Calif Sues Long Beach for Interest Overcharges
California's investment and financing authority has sued a Washington Mutual, Inc. subsidiary for allegedly overcharging subprime borrowers even two years after the authority warned the lender that it was in violation of state law.
