Retail/Marketing

Curry Comments on Auto Credit Risk, Basel IRR Proposal

Comptroller of the Currency Tom Curry in a speech today expressed concern about growing credit risk in auto loans, noting relaxed underwriting standards and the fact that 30 percent of new vehicle loans now have maturities of more than six years. “What is happening in this space today reminds me of what happened in mortgage-backed securities in the run up ...

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NY Fed Researchers Caution Against Payday Lending Curbs

More research is needed on payday borrower habits before any regulation curbing payday lending is adopted, say researchers at the Federal Reserve Bank of New York. The authors examined criticisms of payday lending that are used to justify reform and said that most did not hold up to scrutiny. Research is split, for instance, on whether payday loans help or ...

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Millennials’ Money Stress Affecting Other Areas of Life

More than four in 10 U.S. millennials -- those aged 18 to 34 -- say they are “chronically stressed” about money, and that money stress is spilling over into their emotional well-being, leisure activities, personal relationships and physical health, according to a Bank of America/USA Today survey released today.

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CFPB Guidance Reiterates Changed Approach to RESPA Section 8

The Consumer Financial Protection Bureau issued a bulletin today describing its findings that Marketing Services Agreements are often used as a means to circumvent RESPA’s prohibitions on kickbacks and referral fees under the Real Estate Settlement Procedures Act’s Section 8 provisions.

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Consumer Delinquencies Fall in Second Quarter

Delinquencies on consumer loans fell significantly in the second quarter, driven by large declines in home loan-related delinquencies, according to the ABA Consumer Credit Delinquency Bulletin that was released today. Delinquencies fell in seven of the 11 loan categories.

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