CFPB Monitor

MAY 18, 2020

We previously blogged about Virginia’s enactment last month of a law requiring student loan servicers to be licensed by the Virginia State Corporation Commission (“Commission”). The law’s central feature is a licensing requirement applicable to “qualified education loan servicers.”

Regulation 78

Regulation Virginia Payments National 78

MyBankTracker

JUNE 4, 2020

There are plenty of resources dealing with how students and/or their parents can obtain financing for undergraduate education. We’re going to look specifically at the types of student loans available for graduate school. Federal Student Loans. Direct Unsubsidized Loans. Grad PLUS Loans.

Payments 52

Payments Resources Study Meeting 52

Abrigo

OCTOBER 21, 2020

This post by Hayley Collier , Trepp's Marketing Communication Specialist, was originally published on Trepp's blog and can be found here. He began with a look at a Trepp chart which highlighted the percentage of loans in grace period on a monthly basis dating back to 2019. billion, or about 800 CMBS loans. learn more.

Marketing 312

Marketing Lending Risk Management Retail 312

CFPB Monitor

OCTOBER 20, 2014

The CFPB released its third Annual Report of the Student Loan Ombudsman , Rohit Chopra, discussing complaints received by the CFPB about private student loans and the lessons drawn by the Ombudsman from those complaints. Private student loans currently make up less than 7.8% Kaplinsky and John L.

Report 111

Report Lending Analysis Policies 111

FICO

MAY 14, 2018

In our previous blog post , FICO revealed research on the credit behavior of young people with a student loan actively in repayment to determine the behaviors that are driving FICO® Score increases and decreases. The post Infographic: How Student Loan Borrowers Improve their FICO Scores appeared first on FICO.

National 71

National Groups Payments 71

FICO

AUGUST 23, 2017

Student loan debt in the United States has reached about $1.34 Our latest research reveals that, over the last 10 years: The percentage of middle-aged and older population carrying student loans has doubled. The average balance on those student loans has grown 40%. More People Have Student Loans .

Groups 66

Groups United States Regional Cards 66

CFPB Monitor

SEPTEMBER 28, 2016

In a new blog post by Student Loan Ombudsman Seth Frotman, the CFPB discusses its concerns regarding how student loan servicers may be responding to borrowers seeking to make partial prepayments on their student loans and provides advice to such borrowers. Culhane, Jr.

Payments 60

Payments Report 60

Abrigo

FEBRUARY 22, 2021

Takeaway 2 Many loans are held up by error codes; the SBA will still work with lenders to clear the ones for larger firms in the pipeline. Takeaway 3 Additional changes will require new loan applications and updated SBA regulations. Loans in Process. SBA pledges to work with loans in process. Takeaway 1 Starting Feb.

Lending 195

Lending Fraud Compliance Guidelines 195

CFPB Monitor

NOVEMBER 20, 2014

In a new blog post , the CFPB provides credit reporting advice to service-disabled veterans who take advantage of federal student loan forgiveness available from the Department of Education for veterans who receive a 100 percent disability rating from the Department of Veterans Affairs. Culhane, Jr.

Report 83

Report Industry Examples Company 83

CFPB Monitor

JULY 9, 2015

A new CFPB report entitled “Overseas & Underserved: Student Loan Servicing and the Cost to Our Men and Women in Uniform” contains the CFPB’s findings regarding student loan servicing problems faced by servicemembers. In May 2015, the CFPB issued a new request for information regarding student loan servicing.

Report 60

Report Policies Training Regulation 60

CFPB Monitor

AUGUST 18, 2015

In a new blog post , the CFPB tells borrowers, that in response to its solicitation of borrower “stories” about problems with student loans, it has heard “about problems related to enrolling in income-driven repayment plans that ended up costing you hundreds of dollars in unexpected payments.”

Analysis 60

Analysis Policies Company Payments 60

CFPB Monitor

APRIL 26, 2022

A recent CFPB blog post endorsed part of U.S. While the CFPB rings alarm bells in its blog post, it offers no data concerning the prevalence of this practice to explain why it finds cause for alarm. As a consequence, students “may” be left mired in a “cycle” of collections without a path to successful repayment.

Training 78

Training Conference Lending Security 78

CFPB Monitor

AUGUST 24, 2016

The CFPB’s Student Loan Ombudsman has released a new “ Mid-year update on student loan complaints ” that highlights issues related to income-driven repayment plan (IDR) application issues. The update covers complaints submitted from October 1, 2015 through May 31, 2016.

Policies 60

Policies Report Data Capital 60

CFPB Monitor

FEBRUARY 2, 2015

As a follow up to a January 2014 meeting with private student loan lenders and servicers convened by Director Cordray and Education Secretary Arne Duncan, the CFPB sent letters last week to certain “market participants” requesting information about current and planned loan modification options. Information Requests.

Industry 60

Industry FDIC Meeting Regulation 60

FICO

OCTOBER 20, 2016

The student loan crisis in the US is getting much worse — student loan debt is over $1.3 Our latest research shows that: The number of US consumers aged 25-34 with student loan debt of at least $50,000 doubled from 2005 to 2015. 33% of people who have paid off their student loans have mortgages.

United States 40

United States Cards Comparison Trends 40

CFPB Monitor

NOVEMBER 28, 2022

On November 17, 2022, the Consumer Financial Protection Bureau (“CFPB”) announced in a blog post that it is in seeking to build a new data set that “will allow for a more robust understanding of market trends” in the auto market. trillion nationally) are on pace to surpass student loans as the second-largest debt category in 2023.

Data 147

Data Marketing Lending Trends 147

CFPB Monitor

MAY 4, 2022

The report discusses the Bureau’s examinations in the areas of auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittance transfers, and student loan servicing that were completed between July 2021 and December 2021. Consumer reporting.

Cards 78

Cards Report Management Policies 78

PYMNTS

FEBRUARY 18, 2019

Student debt in arrears has hit record highs as measured by data gleaned from the Federal Reserve Bank of New York, Bloomberg reports. The loans that are at least 90 days past due are the ones that are considered in “serious delinquency.” Louis asked the question via blog entry: “ Is College Still Worth It ?” billion and $166.4

St. Louis 140

St. Louis New York Report Groups 140

PYMNTS

OCTOBER 29, 2019

In its third annual Request for Startups, Plaid is aiming to focus on student debt management along with other areas of financial services that FinTech has underserviced. The firm notes that the total amount of student debt in the United States is at a record high of $1.6 the company noted. the company noted.

United States 101

United States Tools Compliance Management 101

Chris Skinner

DECEMBER 10, 2017

Things we’re reading today include … Why banks will share your financial secrets Deutsche Bank hands bank records of Trump affiliates to Robert Mueller The ‘bank’ message that cost a student £5,400 of her loan money Why a hard Brexit for financial services is unlikely Stress test the world economy … The post Things worth reading: (..)

150

150

Abrigo

NOVEMBER 22, 2021

Consumer Lending Laws & Compliance Financial institutions offering consumer loans need to know about these major consumer lending laws and recent compliance issues. Major consumer loan compliance regulations. Incorporating Reg B requirements into a consumer lending solution means the online loan application will be compliant.

Compliance 195

Compliance Lending Risk Management Regulation 195

PYMNTS

MAY 30, 2019

A new startup named Pillar, which aims to help students pay down loan debt, recently received $5.5 The app will connect with the loan provider and a person’s bank, and can then communicate with the borrower and offer advice based on income, spending and loan size. We read blog posts and articles.

America 128

America US Mobile Report 128

William Mills

APRIL 27, 2017

William Mills Agency will be live blogging at FinovateSpring 2017. Again, another great UI show how a loan officer can work faster creating a better customer experience. Investment; not a loan, long-term, up to 30 years. Essentially, Unison helps to convert an 80/20 loan into a 90/10 product, without the bank taking the risk.

San Francisco 69

San Francisco social media San Jose Customer Experience 69

Ublocal

MAY 21, 2024

Low or No Down Payment Mortgages VA Loans Designed for veterans, active-duty service members, and certain National Guard and Reserve members, VA loans require 0% down. USDA Loans Aimed at promoting homeownership in rural areas, USDA loans offer a 0% down payment, making them ideal for buyers in qualifying rural and suburban areas.

New Hampshire 52

New Hampshire Vermont Millennials Marketing 52

PopularBank

AUGUST 20, 2021

The NPRDP Scholarship Program rewards outstanding students of Puerto Rican descent with scholarships of $2,000 as they pursue higher education. Participants learned about basic banking, including making a deposit, opening a savings account , or applying for a loan. Building financial confidence.

Puerto Rico 96

Puerto Rico National ATM Management 96

Abrigo

MARCH 15, 2022

Unless the bank or credit union is planning merger and acquisition activity, growth at most institutions relies on adding new deposit or loan accounts. seeing core customer bases aging, these people represent opportunities to generate new deposits and new loans, and to sell other products that reinvigorate the bank or credit union.

Online 195

Online Lending Survey Digital Banking 195

Chris Skinner

JULY 25, 2017

The post Things worth reading: 25th July 2017 appeared first on Chris Skinner's blog.

Bitcoin 164

Bitcoin Lending Management 164

CFPB Monitor

SEPTEMBER 19, 2016

In a new blog post , the CFPB states that recent research “underscores the disproportionate impact of student debt on communities of color.” Culhane, Jr. The NCLC lists various types of “borrower outcome data” it wants the ED to track, analyze by race, and report (e.g.,

Community 60

Community National Data Mobile 60

CFPB Monitor

NOVEMBER 24, 2020

The FTC recently published a blog post about a warning letter it sent to TAPD, Inc., Consumers are told that to be eligible for emergency relief, students and/or their parents must have experienced one or more of four identified criteria since March 1, 2020 (for example, a firing or furlough).

social media 78

social media Marketing Company Examples 78

CFPB Monitor

OCTOBER 13, 2016

The notice indicates that the CAB will discuss “student loan servicing issues and trends and themes in debt collection.” The debt collection discussion can be expected to include the debt collection proposals that the CFPB is considering, which it outlined in July 2016 in anticipation of convening a SBREFA panel.

Meeting 60

Meeting Trends Payments 60

PYMNTS

AUGUST 21, 2019

3 that include wellness resources, student loan repayment programs, workplace injury coverage and access to Care.com’s provider platform. To counter criticism of its independent contractor procedures, Instacart announced a series of new benefits for its contract shoppers, VentureBeat reported on Wednesday (Aug. billion in 2017 to $10.2

San Francisco 141

San Francisco Resources Survey Policies 141

CFPB Monitor

JULY 2, 2021

The order applies to individuals working on behalf of persons licensed in Connecticut as: Consumer collection agencies; Debt adjusters; Debt negotiators; Mortgage brokers, mortgage correspondent lenders or mortgage lenders; Mortgage servicers; Sales finance companies; Small loan companies; and. Student loan servicers.

Connecticut 78

Connecticut Maine United States Regulation 78

CFPB Monitor

MARCH 6, 2017

For the first time, student loans replaced mortgages in the “top three” complaint categories with debt collection complaints, together with complaints about credit reporting and student loans, collectively representing about 60 percent of the complaints submitted in January 2017.

Louisiana 88

Louisiana Report South Dakota New Hampshire 88

FICO

APRIL 28, 2022

According to the research from Cornerstone Advisors , these point-of-sale short-term installment loans with low credit amounts have been increasing in popularity during recent years for retail purchases like clothing, household goods, electronics, and more.

Report 98

Report Data Analysis Study 98

BankUnderground

APRIL 3, 2024

This blog specifically analyses UK corporate and household sectoral flows from 2000 to the present and highlights how this framework can reveal useful trends and signals for policymakers about the real economy. Taken together, these two pressures on households have led to lower deposit flows into UK banks.

Lending 66

Lending Analysis Policies Trends 66

CFPB Monitor

APRIL 3, 2017

Debt collection complaints, together with complaints about credit reporting and student loans, collectively represented about 62 percent of the complaints submitted in February 2017. Complaints about student loans showed the greatest month-over-month decrease, decreasing 51 percent from January 2017.

Massachusetts 89

Massachusetts Cards Report West Virginia 89

CFPB Monitor

APRIL 29, 2015

The CFPB has announced that on May 14, 2015, it will hold a field hearing in Milwaukee on student debt. Since field hearings typically coincide with a related development, such as the issuance of a report, we expect this field hearing to be accompanied by a new development related to student loans. Culhane, Jr.

Milwaukee 60

Milwaukee Groups Industry Report 60