The agency said Omni Financial in Las Vegas illegally required service members to designate a portion of their paychecks to repay loans, depriving of them of other payment options.
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Federal Reserve Gov. Lael Brainard said regulators are seeking to "understand the potential benefits and risks" from utilizing artificial intelligence in the financial services sector.
January 12
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The subprime auto lender, which specialized in post-bankrutpcy loans, has a greater share of direct-channel loans (typically refis) compared to its lone 2020 asset-backed offering.
January 11
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Following similar decisions by big banks, the Consumer Bankers Association and Mortgage Bankers Association said they will halt all political contributions to elected officials as some lawmakers face harsh criticism for comments that incited the storming of the U.S. Capitol.
January 11
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The volume of Ginnie securities issued in December marked the first time more than $80 billion has been issued in a month.
January 11
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The notes offering is the largest among the 21 auto-lease deals HCA has issued since 2011, and the fourth that has topped $1 billion in offered notes.
January 11
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Fitch and Trepp reported that overall commercial mortgage-backed security delinquencies were down, while the MBA reported a slight increase.
January 8
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The agency that supervises Fannie Mae and Freddie Mac has pushed for revising an agreement with the Treasury Department allowing the mortgage giants to retain their profits. A deal could be out of reach once Joe Biden takes office.
January 8
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Although returns may be lower than in recent years, CLO securities (particularly the senior-rated tranches) remain very attractive compared to alternative investments.
January 8
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The transaction features a pool of non-qualified mortgages with a higher-than-average delinquency rate driven by COVID-19 relief plans.
January 8
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In memos to their staffs, acting Comptroller of the Currency Brian Brooks and Consumer Financial Protection Bureau Director Kathy Kraninger denounced the violence perpetrated by President Trump's supporters and said both agencies remain in operation.
January 7
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Deals, trends and research in structured finance and asset-backed securities for the week of Dec. 31-Jan.7
January 7
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The share of 72-84 month loans is 15.56% in GMF's 2021-1 transaction, up from 12.24% in its prior prime-auto issuance.
January 7
