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Finance, Credit and Loan Information

February, 2016

CFPB and DOJ Enter Fourth Enforcement Order Against Indirect Auto Lender Based On Discriminatory Loan Pricing …

On February 2, the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) announced entry of a consent order against Toyota Motor Credit (TMC), the US financing arm of Toyota Motors subsidiary Toyota Financial Services, and the largest US captive auto lender. The order requires TMC to change its dealer pricing and compensation policies […]

Will anyone even notice when newspapers are gone?

HAMILTON, Ont. Jan. 28, 2016/ Troy Media/ — Thirty-five years ago, bankruptcies of two major daily newspapers prompted such concern across Canada that a royal commission was struck to inquire into the future of the industry. This month alone, four major English-language metro papers, one small city paper as old as Confederation itself and another that had […]

Justice Department and Consumer Financial Protection Bureau Reach Settlement to Resolve Allegations of Auto …

Torrance, California – The Department of Justice and the Consumer Financial Protection Bureau (CFPB) announced a settlement to resolve allegations that Toyota Motor Credit Corporation (Toyota) engaged in a pattern or practice of discrimination against African-American and Asian/Pacific Islander borrowers in auto lending.  Toyota, based in Torrance, California, is the nation’s largest captive auto lender, […]

Debt Levels Double for Older Americans

Older Americans have more than doubled their amount of debt over a dozen years, and many of them make ends meet by forgoing home or car repairs and cutting medications in half, according to a new report by the National Council on Aging. “We need to recognize that debt is a problem among this population, […]

First-Time Home Buyer’s Guide To Making A Downpayment

First-Time Home Buyers Guide: Making A Downpayment Buying Your First Home: The Down Payment First-time home buyers face a few hurdles as compared to other types of buyers. A first-time home buyer may less money saved for a downpayment; may have a collection of  student loans and other large debt; may be just starting a […]

Moody’s Assigns Aa3 to Logan County Public Prop. Corp., KY’s $7.7M First Mortgage Refunding Revenue Bonds

New York, February 04, 2016 — Issue: First Mortgage Refunding Revenue Bonds (Justice Center Project), Series 2016; Rating: Aa3; Sale Amount: $7,650,000; Expected Sale Date: 02-17-2016; Rating Description: Lease Rental: Appropriation Summary Rating Rationale Moodys Investors Service has assigned a Aa3 rating to $7.7 million Logan County Public Properties Corporation, KYs First Mortgage Refunding Revenue […]

Regulations Targeting Auto Lending May Ultimately Increase Litigation Related To Securitizations

A rise in subprime auto lending has captured the attention of regulators, including the Consumer Financial Protection Bureau (CFPB), which in 2015 adopted a new rule bringing certain nonbank auto lenders under the agency#39;s supervisory powers. In addition, the attorneys general of several states have begun to scrutinize sale transactions involving subprime auto lending and […]

Your best financial adviser? Start with your employer

MINNEAPOLIS — When I attempted to become a financial planner years ago, I realized that a successful adviser has to be a good salesperson first and an educator and adviser second. Educating people to take control of their finances on their own doesn’t pay the bills. In her new book What Your Financial Advisor Isn’t […]

Mortgage Shopping: Know What You Need, And Be Prepared To Look Hard For The Right Provider

By Joseph P. Shaw As usual, The Simpsons offers the perfect summation.I was watching an old episode the other day, the one where Marge Simpson is struggling to earn a red blazer at a local real estate agencystruggling because shes just too darned honest with customers, unwilling to call a cramped dwelling cozy, for example. […]

Serving seniors: Council on Aging offers a wide variety of programs to help older residents

Paul Travitz has seen the Hamilton-based Council on Aging grow dramatically since he first went to work there in 2003. The nonprofit currently has 28 employees and 80 volunteers who provide over 21,000 meals a year and over 11,000 rides on the Bitterroot Bus and other services. “We do have a lot going on and […]

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