×

Diversified Financials Consumer Finance

  • The San Francisco- based bank has been dealing with multiple lawsuits and a sharp drop in account openings after it settled with the Los Angeles City Attorney, the U.S. Comptroller of the Currency and the Consumer Financial Protection Bureau in September over charges that its employees created as many as 2 million accounts without customers' consent.

  • NEW YORK, Jan 13- The U.S. Supreme Court on Friday agreed to decide whether firms collecting on debt they bought for pennies on the dollar can be held liable in lawsuits brought by debtors they targeted under a federal law cracking down on debt collectors' abusive practices. Four Maryland residents who defaulted on car loans filed a proposed class action lawsuit...

  • The San Francisco- based bank has been dealing with multiple lawsuits and a sharp drop in account openings after it settled with the Los Angeles City Attorney, the U.S. Comptroller of the Currency and the Consumer Financial Protection Bureau in September over charges that its employees created as many as 2 million accounts without customers' consent.

  • The San Francisco- based bank has been dealing with multiple lawsuits and a sharp drop in account openings after it settled with the Los Angeles City Attorney, the U.S. Chief Executive Timothy Sloan- who took over after John Stumpf resigned in the wake of the scandal- said he was pleased with the progress the bank has made in customer remediation, as well as its...

  • WASHINGTON, Jan 11- Republicans on Wednesday passed a bill in the House of Representatives that touched on nearly every step U.S. agencies take in creating and applying new rules, continuing their blitz to radically reform "abusive" federal regulation of areas from the environment to the workplace. The legislation would give President-elect Donald Trump...

  • The U.S. Chamber of Commerce faces challenges with the next U.S. president and his team, including overcoming deep divisions on key issues like trade while trying to work together on common goals like repealing President Barack Obama's signature 2010 healthcare law. The Republican-controlled Congress earlier this month began working to repeal it.

  • WASHINGTON, Jan 11- The largest U.S. business lobby group on Wednesday said it could be a mistake to quickly repeal Obamacare without developing a replacement healthcare insurance plan and urged the Trump administration not to erect trade barriers. The U.S. Chamber of Commerce faces challenges with the incoming Trump administration, including overcoming...

  • *Practice can circumvent Canada's new mortgage rules. *Home Trust, Equitable participate in bundles. TORONTO, Jan 11- Canada's subprime mortgage providers are increasingly teaming up with unregulated rivals to sidestep rules designed to clamp down on risky lending.

  • WASHINGTON, Jan 10- The U.S. Supreme Court on Tuesday struggled over how to decide a challenge to a state law barring retailers from charging more to buy with credit instead of cash, debating whether it merely regulates prices or violates merchants' constitutional rights. The eight justices heard an hour of arguments in an appeal brought by merchants to a lower...

  • WASHINGTON, Jan 10- The U.S. Supreme Court on Tuesday struggled over how to decide a challenge to a New York state law barring retailers from imposing surcharges on customers who make purchases with a credit card instead of cash. The court heard a one-hour argument in an appeal filed by a group of merchants to a 2015 ruling by the New York- based 2nd U.S. Circuit Court...

  • JP Morgan Chase

    Jan. 12 will be the last day to earn the Chase Sapphire Reserve's big bonus by applying for the card online, The New York Times reports.

  • LONDON, Jan 4- British consumer borrowing increased by the biggest amount in more than 11 years in November, boosting the unexpectedly robust post-Brexit vote economy in what could prove to be a big spending spree ahead of an expected rise in prices. Net consumer lending beat expectations to jump by 1.926 billion pounds in November- the biggest monthly rise...

  • The U.S. Consumer Financial Protection Bureau said the payments also resolve charges that TransUnion and Equifax lured consumers into enrolling in credit services advertised as free or costing only $1, but which could cost more than $200 a year. TransUnion will reimburse $13.93 million to consumers and pay a $3 million civil fine, while Equifax will...

  • People stand in a long queue to dispense currency at a working ATM, on December 10, 2016 in New Delhi, India.

    India’s demonetization program entered its final day Friday, but it wasn’t clear when the economy would return to normal.

  • Joel Waldfogel, U.S. economist, has not wavered in his belief that the "orgy of wealth destruction" each Christmas needs to change.

  • Cyber Monday

    Hey, big spender! If you checked off your shopping list on the web, you may have skipped this levy.

  • A concerned group of New York-based citizens, professionals, artists and activist groups staged a protest vs Wells Fargo's corporate headquarters for crimes against the American public.

    Wells Fargo announced new account openings fell by 44% in October and new credit card applications had plummeted by 50%, NBCNews reports.

  • Alternatives to banks

    In the wake of the Wells Fargo account scandal, Tim Maurer, director of personal finance at Buckingham and The BAM Alliance, discusses consumer alternatives to the big banks.

  • Australia's big four banks have been in the headlines for all the wrong reasons in the past year.

  • Fintech O2O

    Fintech helps to make banking transactions and asset management more efficient and accessible, says Nexchange Chief Strategy Officer Andrew Economos.