Business

Black Wealth Still Plummeting

PRECINCT REPORTER NEWS — “For households of color, the Great Recession erased the economic progress made over the past three decades in their entirety,” said Astrada. “If current trends continue, it will take 228 years for the average Black family to reach the level of wealth White families own today. For the average Latinx family, matching the wealth of White families will take 84 years.” […read more]

Op-Ed

CFPB is Model of Fairness

By Charlene Crowell NNPA Columnist   If there was one key lesson from the recession it is that financial services need effective regulation. It took billions of lost wealth, largely through millions of foreclosures, before lawmakers took decisive actions to ensure that never again would […read more]

Op-Ed

Preserving the American Dream of Homeownership

By Charlene Crowell NNPA Columnist   Although many economists claim the recession is over, millions of Americans are still reeling from its financial effects. In particular, communities of color continue to be disproportionately affected by billion-dollar losses in family wealth. New mortgage rules, effective this […read more]

Op-Ed

Student Loan Bill of Rights

By Charlene Crowell NNPA Columnist   In the aftermath of a recent report that found the lack of student loan servicing standards and information on monies owed, two U.S. Senators will work as a team to create a Student Loan Borrower Bill of Rights. Sponsored […read more]

Op-Ed

Cracking Down on Payday Lenders

By Charlene Crowell NNPA Columnist   Just in time for the holiday season, three federal regulators have taken two separate actions against payday lending. One seeks to remedy outrageous wrongdoing by refunding money to past customers. The other will protect existing or new borrowers from […read more]

Op-Ed

Coping With Student Loan Repayment

By Charlene Crowell NNPA Columnist A new report from the Consumer Financial Protection Bureau (CFPB) found that many of the same types of loan servicing problems that affected consumers in the mortgage market are now affecting student loan borrowers. Just as troubled homeowners were often […read more]

Op-Ed

Credit CARD Act Saves Consumers Billions

By Charlene Crowell NNPA Columnist With 71 percent of consumers having at least one credit card, new research findings from two different sources show that the Credit CARD Act, enacted in 2009, is working. The only difference between the reports is just how much consumers […read more]

Business

U.S. Consumer Bureau Bars Payment Firm Over Debt-Settlement Fees

(Reuters) – The U.S. consumer watchdog said on Thursday it fined payment processor Meracord for helping to collect illegal debt-settlement fees, part of a broader crackdown on companies that offer to help borrowers get rid of debt. The Consumer Financial Protection Bureau said debt-settlement companies, […read more]

Op-Ed

Don’t Let Auto Dealer Markups Take You for a Ride

By Charlene Crowell NNPA Columnist The Consumer Financial Protection Bureau (CFPB) recently issued a warning to banks, finance companies and credit unions that they will be held accountable for discrimination in auto lending. In announcing its intention to hold auto lenders accountable for illegal, discriminatory […read more]

Op-Ed

Overdraft Fees are Still a Problem

By Charlene Crowell NNPA Columnist   A new report by the Consumer Financial Protection Bureau (CFPB) finds that overdraft fees continue to pose high risks to consumers, despite recent regulatory changes. The report focuses on the dreaded overdraft charge, the fees banks and credit unions collect for […read more]