News Topic: Credit Policy & Regulation

Over the last few years, the US Department of Justice has reached settlements with nearly every major lender with regard to the lending procedures for FHA (Federal Housing Administration) loans. The legal basis for the settlements were alleged violations ... Read full article

Lately I have been teaching courses with names such as "Global and Economic Justice" and "History, Impacts and Regulation of Consumer Credit" instead of "Bankruptcy," "Secured Transactions" and "Chapter 11 ... Read full article

Clearly, the biggest surprise in consumer borrowing since the crash has been the explosive expansion of student loan debt. It has surpassed both auto lending and credit card lending. And, since it ties with Payday Lending and pre-crash sub-prime mortgage ... Read full article

Prior to the crash, only a very few macro-economists were studying consumer borrowing and fewer still were investigating inequality of income or of wealth as an important macro-economic factor. Work in macro-economics is done at academic institutions, the ... Read full article

I am so pleased to offer the following post by Carolina Reid , a premier housing researcher at UC Berkeley, about her excellent study of how mortgage servicers matter in creating home-saving opportunities. Welcome Carolina to Credit Slips . ... Read full article

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In a long story in today's edition, the New York Times is reporting  a bubble in often deceptive and abusive subprime auto lending on unaffordable terms, including very high rates of interest.  Although not quite the threat to the overall economy ... Read full article

A while back, The PEW Charitable Trust did two fascinating papers, found here and here , on prepaid cards. ... Read full article

Today is your last chance to comment on the CFPB's Advanced Notice of Proposed Rulemaking on Regulation F , regarding debt collection.  I had the pleasure of working with  Pat McCoy on a joint comment to the ANPR. ... Read full article

Like Pamela, I’m very delighted to join Credit Slips . As Bob mentioned in his kind introduction, I spent a year as a policy fellow at the Consumer Financial Protection Bureau. One of the most things I got to work on while I was there were the rules ... Read full article

Banks and insurance companies are apparently gnashing their teeth at the news that the Mt. ... Read full article

Whatever force academics have in public debate comes not from a claim that we are somehow smarter than others but because we can claim the persuasive force of having opinions that have not been purchased by others. Over the years, I have watched the line ... Read full article

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Federal bankruptcy law defers to the states on a critical issue: what is the basic minimum income and property that debtors need not surrender to creditors.  Four states protect 100% of workers' wages, while 21 states allow creditors to garnish ... Read full article

The NY Times has a pretty significant error in its reporting on the Summers vs. Yellen Fed Chair race. It says that Yellen was the head of the Federal Reserve Bank of San Francisco, which was Countrywide's regulator. That's wrong. FRBSF was ... Read full article

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"Make ... Read full article

The Supreme Court granted certiorari today in MOUNT HOLLY, NJ, ET AL. V. MT. HOLLY GARDENS CITIZENS , on the question whether Fair Housing Act claims of race discrimination in the sale, rental or financing of housing can be proven based on evidence of ... Read full article