A third of all credit cards issued in the first quarter were to subprime customers.
Banks and other lenders are wooing risky credit-card borrowers more aggressively than they have since the financial crisis in a bid to jolt revenue in a period of sluggish growth and tight regulation.
Continue reading… “Credit card lenders pursue subprime borrowers”
Millions of former students are struggling under the weight of loans.
There are millions of students who are senselessly defaulting on their student loans while failing to take advantage of programs meant to protect them financially. And chances are, it’s the poorest, least sophisticated borrowers who are suffering worst.
Continue reading… “New statistics prove our student loan system is broken”
At $1.1 trillion, student debt eclipses all other forms of household debt, except for home mortgages.
The U.S. government is forecast to turn a record $51 billion profit this year from student loan borrowers, a sum greater than the earnings of the nation’s most profitable companies and roughly equal to the combined net income of the four largest U.S. banks by assets.
Continue reading… “U.S. government student loan policy reaping $51 billion profit”
Nationwide, the average time it takes to process a foreclosure climbed to 674 days from 253 days just four years ago.
Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they’re willing to put up a fight.
Continue reading… “Delinquent borrowers keep homes without paying”
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