AG Campbell Forces ‘Usurious’ Non-Bank Lender Out of Mass. Market
Saying it charged illegally high interest rates to customers, Attorney General Andrea Campbell announced her office was forcing EasyPay out of the Massachusetts market.
J.D. Power: Traditional Lenders Gain in Consumer Lending Satisfaction
Traditional lenders offering consumer loans outperformed financial technology firms in providing guidance, honest communication and reliable technology during the pandemic, according to a new study from J.D. Power.
BofA Receives No-Action Letter for Consumer Loans
Bank of America will be able to offer small loans to customers under certain guidelines without facing enforcement actions from the Consumer Financial Protection Bureau.
Consumer Lending Satisfaction Hinges on Trust, Ease of Access, J.D. Power Finds
A perfect storm of record-high levels of unemployment, record low interest rates and increased reliance on digital interactions is putting consumer lenders to the test like never before.
A Change Could Do You Good
A different method of compensation for HELOC originations might give some banks and credit unions a strong advantage over non-depository institutions. So why aren’t any institutions trying this?
Sageworks: Bankers May Want To Retool FICO Storage
More than a third of bank and credit union professionals (34 percent) store consumers’ FICO scores on a monthly basis, but given the approaching requirements of CECL, they may want to rethink that approach, financial analysis firm Sageworks said recently.
