Today, the Department of Defense released a proposed rule updating the Military Lending Act, which protects military servicemembers from predatory lending practices. The proposed rule closes several key loopholes that previously allowed lenders to trap servicemembers in a high-cost cycle of debt.

When a consumer has a bad experience with a financial institution, the Consumer Financial Protection Bureau (CFPB) gives him or her a powerful tool to hold that institution accountable: the consumer complaint system. CFPB is now accepting complaints on a wide variety of financial products and services, including mortgages, student loans, bank accounts, debt collection, and more.

  • 'Exclusionary Lending' is keeping creditworthy black and Latino borrowers from the loans they need, Jim Carr writes
  • Regulators hope to enliven housing market w/ easier downpayment requirements for creditworthy borrowers @WSJ writes
  • Ocwen Financial under fire for backdating, inhibiting borrowers’ ability to get foreclosure modifications

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