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Loans

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  • Build on rising consumer confidence [Letter]

    Does the recent uptick in consumer confidence indicate that the agendas of the White House and Congress are misaligned with middle class aspirations? The U.S. consumer confidence index jumped to 90.9 in July, marking the highest level in seven years from a revised 86.4 in June. Lynn Franco, director of economic indicators at The Conference Board recently stated that "job growth helped boost consumers' assessment of current conditions while brighter short-term outlooks for the economy and jobs, and to a lesser extent personal income, drove the gain in expectations."
  • As scrutiny mounts, mortgage servicers push into lending

    Mortgage servicers in the United States are evolving into the next big lenders, sidestepping regulatory scrutiny to win business in a gap left by the retreat of big banks from the home-loan market. By writing new mortgages, non-bank servicers such as...

    Victims of lending scam targeting military win settlement

    WASHINGTON At first glance, the loans advertised by Rome Finance looked like a good deal for service members who wanted to buy new video game consoles, laptops or flat-screen TVs but didn't have the cash. The Concord, Calif., company offered special...

    UBS facing over $600 million in claims over Puerto Rico funds

    NEW YORK (Reuters) - UBS AG is facing claims of more than $600 million from clients who say the bank is responsible for losses they incurred on investments in risky Puerto Rico debt, UBS said in its quarterly report on Tuesday. The predominantly older...

    Watchdog: Don't wait to cut debt: Front & Center

    Watchdog: Don't wait to cut debt: Front & Center
    There's rough weather ahead for the federal budget and the nation's economy, according to this month's long-term forecast from the nonpartisan Congressional Budget Office. The CBO projects the growing national debt will reduce Americans' incomes, raise...