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Thursday, April 9, 2020  Spokane, Washington  Est. May 19, 1883
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Stories tagged: loans

Borrowing costs depend on college status, study finds

Borrowers expect their income or credit history to send their loan costs up or down. Few, however, expect lenders to judge them based on what college they went to. But …

UPDATED: Wed., Nov. 14, 2018

Are you a minority borrower? You might want to think twice about using an online lender.

It’s not just bank loan officers with racial biases who discriminate against black and Latino borrowers. Computer algorithms do, too.

A major bank is offering payday-style loans. Will others follow suit?

U.S. Bank says it will offer nearly instant small loans to its customers, becoming the first bank to provide such a product since federal regulators cleared the way earlier this …

UPDATED: Mon., Sept. 10, 2018

U.S. Bank to offer small-dollar loans to compete with payday lenders

U.S. Bank will offer small-dollar loans to its depositors, aiming to provide cash when customers get in short-term binds. The product, called Simple Loan, puts the nation’s fifth-largest bank in …

UPDATED: Thu., Aug. 16, 2018

Mountain West Bank invests $1 million in SNAP to assist homeowners, businesses

The partnership will add 20 percent of lending capacity to SNAP to assist those hoping to buy or renovate their home in the Inland Northwest. SNAP provided more than $758,000 …

Bank official recalls red flags on Manafort loan application

A bank executive said he found several red flags with Paul Manafort’s finances while the former Trump campaign chairman was being considered for $16.5 million in bank loans.

Colleges ask for a share of future salary in lieu of loans

As more students balk at the debt loads they face after graduation, some colleges are offering an alternative: We’ll pay your tuition if you offer us a percentage of your …

UPDATED: Fri., April 20, 2018

Wells Fargo to pay $1B for mortgage, auto lending abuses

Wells Fargo will pay $1 billion to federal regulators to settle charges tied to misconduct at its mortgage and auto lending business, the latest punishment levied against the banking giant …

UPDATED: Tue., Feb. 6, 2018

If interest rates rise, GM likely to expand subsidized loans

If auto loan interest rates rise as expected this year, General Motors and others are likely to make more subsidized loans, including zero-percent financing, to keep car sales flowing.

Montana U.S. Senate hopefuls make large loans to campaigns

Two Montana Republicans seeking to challenge incumbent Democrat U.S. Sen. Jon Tester in 2018 are chipping in large amounts of their own money to jumpstart their campaigns.

Betsy DeVos delays Obama-era rules designed to protect students from predatory for-profit colleges

The Trump administration is suspending two key rules from the Obama administration that were intended to protect students from predatory for-profit colleges, saying it will soon start the process to …

Deutsche Bank is asked for files on Trump family loans

Democratic lawmakers asked Deutsche Bank to hand over its findings on two politically charged matters — its banking on behalf of now-President Donald Trump and trades from the bank’s Moscow …

UPDATED: Mon., May 22, 2017

Credit cards give investors jitters, but bankers sleep fine

For Kevin St. Pierre, the math on credit cards is pretty simple. “Generally, if the consumer has income, they pay their debts,” St. Pierre, an analyst at Sanford C. Bernstein, …

Low interest loans available to area producers

The U.S. Department of Agriculture Farm Service Agency announced Tuesday that physical loss loans are available in numerous counties throughout the Northwest, including Latah and Whitman counties.

Mortgage discount points now tossed in one basket

Mortgage points are a pain. They are difficult to explain to the first-time homebuyer, sometimes an added expense for the seller, a tender bargaining spot for agents and a mandatory, …

Congress’ budget patch averts national farm loan crisis

U.S. farmers drained all available government agricultural loan money this past fiscal year to get through one of the worst agricultural downturns in recent years, but no one who qualifies …

Consumers boost borrowing $16 billion in October

Consumers increased their borrowing in October at the slowest pace in four months as growth in credit card debt and the category that covers auto loans and student loans slowed.

No credit history, no problem: Lenders now look at phone data

Financial institutions, overcoming some initial trepidation about privacy, are increasingly gauging consumers’ creditworthiness by using phone-company data on mobile calling patterns and locations.

Education Department beefs up effort to help ITT Tech students

The Department of Education announced new online resources Monday for students affected by the abrupt closure of ITT Technical Institutes, amid criticism that the government is not doing enough to …

U.S. regulators: Still heavy risk in big bank loans

Federal regulators say risk remains heavy in large loans made by banks and other financial institutions, though lending standards have improved.

Payday lenders face federal restrictions in aim to protect borrowers

Federal regulators are proposing a significant clampdown on payday lenders and other providers of high-interest loans, saying borrowers need to be protected from practices that wind up turning into “debt …

U.S. consumer borrowing jumps 10 percent in March

U.S. consumers sharply increased use of their credit cards in March, pushing up total borrowing at the fastest pace in more than a decade.

Average rate on 30-year mortgages falls to 3.61 percent

Long-term U.S. mortgage rates fell this week, following the Federal Reserve’s decision not to raise its benchmark interest rate.

Puerto Rico skips bond payments, says Congress must help

Puerto Rican officials say the island’s default on a $422 million bond payment is only the beginning if the U.S. Congress doesn’t help resolve the situation soon.

Atlantic City avoids default, makes $1.8M bond payment

Financially strapped Atlantic City scraped together enough money to make a $1.8 million bond payment Monday morning, narrowly avoiding becoming the first New Jersey municipality to default on its debt …

Government: Student loan defaults won’t result in jail time

It won’t help your credit history, but defaulting on student loans will not earn you a one-way ticket to jail. That word comes from the Education Department in a blog …

Student loan debt adjustors in Washington to refund illegal fees

The state Attorney General’s Office says several student loan debt adjustors in Washington that overcharged hundreds of students and collected illegal fees will refund the money.

U.S. consumer borrowing rises at weak pace again

U.S. consumers borrowed at a modest pace in February for the second month in a row, evidence of ongoing caution that has kept a lid on spending this year.

Editorial: For-profit colleges a bad bargain

For-profit colleges have draining public funds and exploiting veterans for far too long. Congress needs to act.

Glenewinkel: Bond lacked parent support

East Valley School District faces the aftermath of repeated failure as voters rejected a $65 million bond Tuesday that would have renovated schools and built an athletic facility and performing …