Consumer lending

The public face of the Trump administration's revamp of the Consumer Financial Protection Bureau is by no means working alone.

WMC Mortgage, a leading subprime originator during the boom era, could file for bankruptcy by parent company General Electric if it loses a legal proceeding regarding indemnifications on mortgage-backed securities.

Since taking office in November of last year, acting Consumer Financial Protection Bureau Director Mick Mulvaney's actions have sparked outrage from his critics seemingly at every turn, including several times just last week.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney announced a trio of significant changes to the CFPB.

No individuals have been named in connection with the bank’s recent misdeeds, which resulted in a $1 billion fine, even as some senior leaders stand to gain from the government’s tax cut.

The legislation would prohibit the CFPB from penalizing institutions that rely in good faith on guidance from the bureau.

The Providence, R.I., company reported a double-digit increase in quarterly profits despite a year-over-year decline in fee-based revenue.

The latest fine from regulators was leveled against the bank on Friday. But it's far from the only penalty it has paid in recent years, and more may be on the way.

Lending, especially in some consumer segments, increased at Bank of America in the first quarter, and CEO Brian Moynihan expects that to continue this year. However, for market watchers skeptical about the industry's growth prospects, BofA's numbers may do little to change their minds.

Questions about the CFPB’s structure, high-profile enforcement actions and the acting director’s rift with Elizabeth Warren could dominate two days of hearings on Capitol Hill.

Local delinquencies that rose in Hurricane Harvey's wake are lower than they were right after the storm, but they are still higher than they were a year ago.

The agency’s acting director uses a reply letter to the senator not to answer her questions but to underscore that Congress lacks the ability to compel answers to such questions.

Mortgage credit availability tightened during March to its lowest level in over a year, adding another headwind to a market challenged by rising interest rates and a shortage of homes for sale.

Late-payment rates at banks declined in nine out of the 11 consumer loan categories tracked by the American Bankers Association, including credit cards, auto loans and personal loans.

Carrington Mortgage Services' decision to offer subprime mortgage loans was a natural progression from its decision four years ago to concentrate on borrowers with credit scores under 640.

The latest salvo by the acting director of the Consumer Financial Protection Bureau — proposing in the agency's semiannual report that all CFPB rules be subject to congressional approval — left many observers stumped if not outraged.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney proposed dramatic curbs to his agency's power in a report Monday, including a recommendation that all CFPB rules must be approved by Congress.

A majority of midsize and large banks complain that red tape is mounting and that they are passing on higher regulatory costs to customers and have less flexibility in designing products, according to a new survey by the RMA.

In the joint report with the Federal Trade Commission on debt collection practices, the CFPB said it had initiated four enforcement actions last year, had resolved one case and has five others pending.

Banks say that an appeals court’s decision to ease restrictions will allow them to warn customers more easily when loans are past due or accounts have been compromised. But consumer groups argue that the decision gives financial firms license to market their products more aggressively and could lead to more harassing phone calls over unpaid debts.