GO
Loading...

Consumer Finance

More

  • U.S. housing authorities release final mortgage rules Wednesday, 11 Dec 2013 | 4:11 PM ET

    WASHINGTON, Dec 11- New mortgage rules designed to prevent a repeat of the 2007-2009 financial crisis, when foreclosures spiked because of risky bank practices, were finalized by the U.S. Department of Housing and Urban Development on Wednesday.

  • *Santander to buy 8 pct Bank of Shanghai stake from HSBC. MADRID/ LONDON, Dec 10- Santander, Spain's largest bank, is to buy HSBC's 8 percent stake in Bank of Shanghai, just as many international rivals are beginning to sell out of China.

  • WASHINGTON, Dec 10- The U.S. consumer financial watchdog on Tuesday ordered a General Electric Co unit to refund up to $34.1 million to customers who it said were misled about healthcare credit cards.

  • WASHINGTON, Dec 10- The U.S. consumer bureau on Tuesday ordered General Electric Co's GE Capital Retail Bank and one of its subsidiaries to refund up to $34.1 million to customers who it said were misled about healthcare credit cards.

  • UK to cap 'payday' loan rates     Monday, 25 Nov 2013 | 11:40 AM ET

    Matthew Lawrence, a research fellow at the U.K.'s Institute for Public Policy Research, discusses a forthcoming law to cap the astronomic interest rates lenders can charge on so-called payday loans.

  • WASHINGTON, Nov 20- Payday lender Cash America International will refund consumers $14 million and pay a $5 million fine to settle civil allegations that it improperly pursued some customers' debt and overcharged military service members, U.S. regulators said on Wednesday.

  • WASHINGTON, Nov 20- The U.S. consumer bureau on Wednesday charged payday lender Cash America International Inc with improperly pursuing some customers' debts and illegally overcharging members of the military. Cash America agreed to refund affected consumers up to $14 million and pay a $5 million fine, the Consumer Financial Protection Bureau said.

  • U.S. consumer watchdog to simplify home loan paperwork Wednesday, 20 Nov 2013 | 12:00 AM ET

    WASHINGTON, Nov 20- New rules to simplify the paperwork consumers receive when they apply for loans will take effect in August 2015 as part of a U.S. effort to make it easier to shop for mortgages. The Consumer Financial Protection Bureau said on Wednesday that the measures are intended to ensure lenders clearly lay out the terms and costs of loans for home buyers.

  • WASHINGTON, Nov 19- One part of the Obama administration's technically flawed HealthCare.gov website is actually working as promised.

  • NORWALK, Conn., Nov 15- General Electric Co will spin off its credit card business next year into a separately traded company as it tries to reduce its exposure to unpredictable financial businesses and return to its manufacturing roots. At one time, the GE Capital unit, which houses the company's financial operations, contributed nearly half of GE's total profit.

  • NORWALK, Conn., Nov 15- General Electric Co plans to spin off part of its North American retail finance business next year as a separately traded public company in a long-term attempt to generate less profit from the volatile financial sector and more from manufacturing.

  • *Bank raised $1 billion in recent London IPO. "TCS does not send unsolicited credit cards to Russian consumers," the company said in a statement issued through the London Stock Exchange.

  • NEW YORK, Nov 14- An expert witness testified on Thursday that Bank of America Corp's proposed $8.5 billion settlement with mortgage bond investors is rife with conflicts of interest, as opponents made a final push to derail the deal.

  • Wells Fargo targets big spenders in credit card push Thursday, 7 Nov 2013 | 9:38 AM ET

    Nov 7- Wells Fargo& Co, is looking to entice more wealthy customers to use its credit cards as part of a strategy to become a more dominant player in that business, a top executive said on Thursday. Wells Fargo aims to grow market share over the next 18 months through a recently announced partnership with American Express Co, he added.

  • How government bickering is hurting Main Street Monday, 4 Nov 2013 | 6:00 AM ET
    A TJ Maxx store in Cincinnati

    The government shutdown may have ended a couple of weeks ago, but, like a bad hangover, the economic fears and financial uncertainty are lingering.

  • Oct 30- Visa Inc, the world's largest credit card company, reported a 28 percent fall in quarterly profit due to a higher income tax provision. Net income attributable to Visa fell to $1.19 billion, or $1.85 per Class A share, from $1.66 billion, or $2.47, a year earlier.

  • Visa profit falls 28 pct due to higher tax provision Wednesday, 30 Oct 2013 | 4:19 PM ET

    Oct 30- Visa Inc, the world's largest credit card company, reported a 28 percent fall in quarterly profit due to higher income tax provision. Net income attributable to Visa fell to $1.19 billion, or $1.85 per Class A share, from $1.66 billion, or $2.47, a year earlier. Total operating revenue rose 9 percent to $2.97 billion.

  • Recouping wedding costs lost to the shutdown Friday, 25 Oct 2013 | 2:04 PM ET

    Couples who relocated or rescheduled weddings due to the shutdown may be able to get their money back.

  • WASHINGTON, Oct 22- U.S. regulators on Tuesday said they do not expect lenders to run afoul of fair-lending laws if they opt to issue only the most basic mortgages after tough new rules take effect in 2014.. The Consumer Financial Protection Bureau plans to begin enforcing a rule in January that requires mortgage lenders to verify borrowers can repay their loans.

  • MOSCOW, Oct 21- Russian entrepreneur Oleg Tinkov's consumer credit provider TCS is aiming to raise around $1.1 billion in its London flotation- higher than the $870 million previously expected, a financial market source said on Monday.

Most Popular Video

Tuesday, 15 Apr 2014 | 7:31 PM ET

Hiroshi Miyoshi, Mitsubishi CEO for Turkey and Central Asia, describes Turkey's appeal to Japanese firms, who invested $500 million in the emerging market last year.

Tuesday, 15 Apr 2014 | 4:07 PM ET

"Yahoo's core business is still limping along," says Colin Gillis, BGC Financial, while providing instant reaction to Yahoo's quarterly numbers. "Shark Tank" investor Kevin O'Leary and "The Profit's" Marcus Lemonis weigh in.

Tuesday, 15 Apr 2014 | 11:31 PM ET

John Sculley, former Apple CEO and Managing Partner at Inflexionpoint, discusses his company's acquisitions in Singapore and India.