Wednesday, September 5, 2018

Interest-Only Subprime Auto Loans are Too Good to Be True


Interest-Only Subprime Auto Loans are Too Good to Be True

Low-income families can sometimes find themselves desperate to get financing for a new-to-them used vehicle. They may be swayed by low monthly payments or interest-only subprime auto loans. But these lending options come with big strings attached, and sometimes the lenders don’t lay everything on the table.

CFPB Ombudsman Quits Over Student Loan Regulation


CFPB Ombudsman Quits Over Student Loan Regulation

The Consumer Financial Protection Bureau’s (CFPB’s) Student Loan Ombudsman, Seth Frotman has had enough of the political maneuvers affecting the way he does his job overseeing student loan regulation. On August 27, 2018, Frotman resigned from the CFPB. His resignation letter shows how the organization has changed under the Trump administration.