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Diversified Financials Consumer Finance

  • The executive order Trump will sign on the 2010 Dodd-Frank law on Wall Street reform will be a first step towards rolling back the regulations that Trump sees as hurting the economy, but without rewriting the legislation, which can be done only through Congress. Expectations of simpler bank regulations helped push up stocks on Wall Street in early trading.

  • President Donald Trump on Friday will fire the opening salvo in his campaign to scale back major regulations that resulted from the financial crisis, directing a review of the Dodd-Frank Act and putting the brakes on a retirement advice rule. The executive order that Trump will sign on the 2010 Dodd-Frank Wall Street reform law will not overhaul the...

  • WASHINGTON, Feb 2- A U.S. appeals court on Thursday rejected separate bids by 16 states and two Democratic lawmakers to defend the U.S. Consumer Financial Protection Bureau in a legal battle that could defang the agency created under former President Barack Obama. In a brief order, a three-judge panel of the U.S. Court of Appeals for the District of Columbia...

  • NEW ORLEANS, Jan 29- U.S. auto dealers gathered for their annual convention in New Orleans said they want President Donald Trump to ease federal regulation of vehicle emissions and consumer lending, reversing action taken by his predecessor. Former President Barack Obama enacted rules requiring automakers to roughly double the average fuel efficiency of...

  • NEW ORLEANS, Jan 29- U.S. auto dealers gathered for their annual convention in New Orleans said they want President Donald Trump to ease federal regulation of vehicle emissions and consumer lending, reversing action taken by his predecessor. Former President Barack Obama enacted rules requiring automakers to roughly double the average fuel efficiency of...

  • SAO PAULO, Jan 26- Brazil's top monetary policy body approved on Thursday restrictions to revolving credit lines offered by credit card companies, in a long-expected move aimed at reducing interest rates for consumers. The National Monetary Council said consumers could only use for one month the high-cost revolving credit lines that automatically finance...

  • SAO PAULO, Jan 26- Brazil's top monetary policy body approved on Thursday restrictions to revolving credit lines offered by credit card companies, in a long expected move aimed at reducing interest rates for consumers. The National Monetary Council, known as CMN, said consumers could only use for one month the high cost revolving credit lines that...

  • WASHINGTON, Jan 23- Citigroup Inc mortage units have been fined $28.8 million for keeping home borrowers in the dark about options to avoid foreclosure and making it difficult for them to apply for relief, the U.S. consumer finance watchdog said on Monday. CitiMortgage will pay an estimated $17 million to compensate wronged consumers, as well as a civil penalty...

  • 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. Attorneys general from 16 states plus the District of Columbia filed papers with a federal...

  • 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...