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CFPB Director Kathy Kraninger faced a barrage of questions from Democrats on the House Financial Services Committee over why the agency has not demanded refunds for consumers in recent settlements.
Robert G. Cameron, a former official at the Pennsylvania Higher Education Assistance Agency, will succeed Seth Frotman as the bureau's point person on student lending complaints.
Of the roughly $250 billion severely derogatory outstanding balance, defaulted student loans make up 35%, a New York Fed report found. That’s a new phenomenon.
Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom.
The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending.
The executives were hired for their focus on loan origination, portfolio management and securitization.
The collateral will include $147.3 million in well-seasoned loans that were part of HESAA’s 2009 issuance, as well as up to $155 million in new loans that the trust will originate through an Oct. 31, 2020 prefunding and recycling period for the next academic calendar year.
It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed.
Navient Corp. is returning to all fixed-rate collateral for its next securitization of refinanced private student loans issued via its Earnest affiliate to high-earning college graduate professionals.
Democratic presidential candidate Elizabeth Warren proposed eliminating student-loan debt for an estimated 42 million Americans with a wealth tax
SLM Corp. wants to "target the people our competitors are targeting and bring on their federal balances" CFO Steven McGarry said during an earnings call.
Measures of loan performance were generally better than expected at Ally, American Express, Synchrony and Sallie Mae. Their 1Q reports suggest that consumers remain able to meet their obligations despite a long run-up in debt.
The lawmakers are questioning the agency about its oversight of student loan servicers involved in a federal loan forgiveness program.
Susan Ehrlich, the fintech lender's new chief, discusses what she learned working at Amazon and Simple and how her firm is approaching consumer loans differently.
The bureau's director, Kathy Kraninger, faced a barrage of criticism from Senate Democrats on the agency's lack of enforcement actions, a reversal on Military Lending Act examinations and changes to the payday loans rule.
Since most U.S. securities transactions are subject to New York law, it could be expedient to pass legislation defining Libor as SOFR plus a spread, says David Bowman, special adviser to the Fed.
Libor’s demise poses significant problems for outstanding floating-rate securities that are pegged to the benchmark; SFIG wants to make it easier to amend deals.
While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening.
Navient Corp. shares surged after Canyon Capital Advisors said it could boost a $3.1 billion takeover offer that was rejected by the student-loan servicer.
Barclays, BMO, Citibank, Goldman Sachs and ING contributed to the online student lender, which last year made over $1 billion in loans.
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