Lending Club CEO resigns; Upcoming Events/Training; USDA Rural Developments; Mortgage Credit Less Available


Posted To: Pipeline Press

At a car dealership: “The best way to get back on your feet – miss a car payment.” Some believe that the CFPB has shifted its spotlight, temporarily, onto pay day, auto lending, and deferred interest credit card payments. But that doesn’t mean residential lending won’t see its share of attention. Of note last week was the CFPB proposing a rule that would allow consumers to go around arbitration clauses on loans and other contracts to pursue class action lawsuits. We can all expect banks to address the increased risk this change will bring to existing business lines by seeking ways to raise prices around impacted products such as credit cards, auto loans and other loans. And mortgages. And someone can let me know how this helps extend credit to deserving borrowers. Lenders…(read more)

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