consumer-finance

Mortgage Settlement Is Beating Goals, Proving Doubters Wrong

03/07/13

Our hope and plan was that the settlement would show principal reduction works and that it would spur the use of writedowns in other loan modifications. That is now occurring.

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Focus on Easy Refis Leaves Harp's Potential Unfulfilled

03/06/13

The Home Affordable Refinancing Program should not be judged by the total number of completed refis. The true measure of success of any mortgage relief program should be the percentage of high-risk borrowers who ultimately benefit.

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Use Your Branches' Empty Spaces to Promote Small Businesses

03/06/13

Finding ways to spotlight and promote our small business customers within our branches strengthens a customer's bond with his bank like few things can.

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Government Benefit Cards Can Open Doors to Banking System

03/05/13

Cards preloaded with unemployment insurance, child support, food stamps and other government benefits can be viewed as potential bank accounts, waiting to be opened by people with the fewest quality opportunities to connect to the financial mainstream.

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'Prepaid Card' = Checking Account

03/04/13

Characteristics of prepaid cards and checking accounts have converged. This will continue until they are simply different names for the same thing. Manage them together, and provide with each all the relevant features for which customers will profitably pay.

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Regulate Prepaid Cards as Debit Cards? Not So Fast

02/28/13

Checking account regulations are outdated even for their primary product. Why would you want to regulate prepaid cards with a set of archaic rules?

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The More Short Sales Done in Mortgage Settlement, the Better

02/27/13

The fact that the bulk of the relief from the national mortgage servicing settlement is going to short sales is a huge victory for the economy, consumer advocates' howls notwithstanding.

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Don't Let Insurance Companies Dodge Overdraft Settlement Claims

02/26/13

A recent court decision held that banks were entitled to the overdraft fees they collected over the years - essentially undermining the insurance companies' main argument against coverage.

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Raising FHA's Game

02/25/13

Take the Federal Housing Administration out of HUD and put it under a commission. A self-funded, independent government corporation would be a major step toward comprehensive housing finance reform.

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Yes, the Payday Loan Can Be Reinvented

02/21/13

Recreating this industry involves regulation that more effectively aligns the interests of lenders and borrowers, consumer education and outreach and market-driven solutions.

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