CFPB: Bureau Finds Consumers Complain of Needless Hurdles in Applying For Lower Student Loan Payments
WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman released a report finding consumers complain of servicing problems that make it difficult to get lower student loan payments tied to their income. Student loan borrowers seeking to take advantage of income-driven repayment plans with their federal student loans complain to the CFPB…
CFPB: Tips and Resources for Enrolling in an Income-Drive Repayment Plan
Lost paperwork? Unexpected and lengthy delays? Different answers each time you call your servicer with questions? Every day, we hear from borrowers experiencing these problems as they struggle to repay their student loans. We’re here to help. If you have federal student loans and are trying to make your payments more affordable, you can change your repayment…
ABA: Foundation Invites Volunteers for 2016 “Get Smart About Credit” Day
Calling on banker volunteers to help their local youth become financially fit WASHINGTON — The American Bankers Association Foundation is calling for banker volunteers for its annual Get Smart About Credit program, an initiative designed to teach teens and young adults how to use credit effectively. Bankers will celebrate Get Smart About Credit Day on Oct….
CDFI Fund: Annual CIIS Public Data on CDFI Program Recipient Reporting Released
The Community Development Financial Institutions Fund (CDFI Fund) released today twelve years of data provided by Community Development Financial Institutions (CDFIs) through its data collection system, known as the Community Investment Impact System (CIIS). The data collected covers fiscal years (FY) 2003 through 2014. The release contains Institution Level Report (ILR) data on 777 CDFIs…
FDIC: Small Business Lending Survey Initiated
The Federal Deposit Insurance Corporation (FDIC) today announced the launch of a survey of banks regarding their small business lending practices. The web-based survey of roughly 2,000 randomly selected FDIC-insured banks will begin in late June and will be administered by the U.S. Census Bureau on behalf of the FDIC. The Small Business Lending Survey…
ABA: First-Time Homebuyers – 6 Tips to Save for the House of Your Dreams
WASHINGTON — According to a 2015 BMO Harris report, 52 percent of Americans plan to buy a home in the next five years. Saving for a down payment, typically between 5 to 20 percent of the home’s value, is one of the biggest challenges for those aspiring homebuyers. In recognition of American Housing Month, the…
CFPB: 3 Things You Consider Before Co-Signing for an Auto Loan
Young adults with limited or spotty credit histories often ask older family members, such as a parent or grandparent, to co-sign for a loan to help them buy a vehicle. However, co-signing for an auto loan includes real risks and responsibilities. If you’ve been asked to co-sign a loan, you can use or share our…