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Diversified Financials Consumer Finance

  • WASHINGTON, Jan 23- The U.S. consumer financial watchdog said on Monday it had fined subsidiaries of Citigroup Inc $28.8 million for giving "the runaround to borrowers" on mortgage servicing by keeping them in the dark about options to avoid foreclosure or making it difficult for them to apply for relief. CitiMortgage will pay an estimated $17 million to...

  • WASHINGTON, Jan 23- The U.S. consumer financial watchdog said on Monday it had fined subsidiaries of Citigroup Inc $28.8 million for giving "the runaround to borrowers" on mortgage servicing by keeping them in the dark about options to avoid foreclosure or making it difficult for them to apply for relief. CitiMortgage will pay an estimated $17 million to...

  • WASHINGTON, Jan 23- The U.S. Consumer Financial Protection Bureau said on Monday it had fined subsidiaries of Citigroup Inc $28.8 million for giving "the runaround to borrowers" on mortgage servicing, by keeping borrowers in the dark about options to avoid foreclosure or making it difficult for them to apply for relief. CitiMortgage will pay an estimated $17...

  • WASHINGTON, Jan 23- Democratic state officials took a step on Monday to try to defend the U.S. Consumer Financial Protection Bureau in a court battle that could defang it, worried that Republican President Donald Trump's administration will not safeguard the agency. The state officials said in the court filing that they are concerned that the Trump...

  • Jan 19- American Express Co's quarterly profit fell 8.2 percent as the credit card issuer boosted spending on marketing and promotion to fend off rising competition. Net income attributable to common shareholders fell to $825 million, or 88 cents per share, in the fourth quarter ended Dec. 31, from $899 million, or 89 cents per share, a year earlier.

  • WASHINGTON, Jan 19- TCF National Bank was on Thursday accused of "tricking consumers" into costly overdraft services in a lawsuit by the U.S. Consumer Financial Protection Bureau. According to the lawsuit, Minnesota- based TCF National Bank wrongly pushed customers into a costly overdraft protection that generated hundreds of millions of dollars in revenue.

  • NEW YORK, Jan 19- Paying back your student loans is hard enough. The Consumer Finance Protection Bureau shed some light on how harrowing this process can be for borrowers on Wednesday when it announced a massive lawsuit against the largest servicer of student loans, Navient, for "systematically and illegally failing borrowers at every stage of repayment."

  • NEW YORK, Jan 19- Paying back your student loans is hard enough. The Consumer Finance Protection Bureau shed some light on how harrowing this process can be for borrowers on Wednesday when it announced a massive lawsuit against the largest servicer of student loans, Navient, for "systematically and illegally failing borrowers at every stage of repayment."

  • WASHINGTON, Jan 18- The largest U.S. student loan servicer, Navient Corp, cheated borrowers out of billions of dollars, often by deceiving them about repayment options and their legal rights, the U.S. consumer financial watchdog said on Wednesday as it announced a lawsuit against the company. The U.S. Consumer Financial Protection Bureau accused Navient, which...

  • WASHINGTON, Jan 18- The largest U.S. student loan servicer, Navient Corp., cheated borrowers out of billions of dollars, often by deceiving them about repayment options and their legal rights, the U.S. consumer financial watchdog said on Wednesday as it announced a lawsuit against the company. The U.S. Consumer Financial Protection Bureau accused Navient, which...

  • WASHINGTON, Jan 18- U.S. regulators sued Navient Corp on Wednesday, accusing the largest U.S. student loan servicer of "systematically and illegally failing borrowers at every stage of repayment." The Consumer Financial Protection Bureau said Navient, which was formerly part of Sallie Mae, provided its student borrowers with bad information, processed...

  • LONDON, Jan 18- Britain's competition watchdog said on Wednesday that Mastercard has proposed a series of measures that should alleviate its concerns about the credit card giant's takeover of payments processing company VocaLink. The Competition and Markets Authority said earlier this month that it was worried the deal could lead to the combined group...

  • WASHINGTON, Jan 17- One of the most powerful Democrats in the U.S. Congress on Tuesday pressed President-elect Donald Trump to keep the consumer financial watchdog agency's current director, as rumors about a possible termination and replacement swirled. Senate Democratic leader Chuck Schumer told reporters that Trump will break his campaign promise of "...

  • 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...