Link roundup: 6 subprime stories you missed this weekend

Inside Subprime: August 21, 2017

By Caroline Thompson

Good afternoon! Here are the top six financial stories you might have slept on while preparing for the eclipse.

The subprime auto industry is worth about $26 billion. 

Delinquent subprime auto borrowers are being relentlessly pursued by lenders who never should have approved their auto loans in the first place. Read more at The Nation.

If you need a new car, then you likely also need a new auto loan. Check out the details and pitfalls in our Auto Loan blog post.

Young entrepreneurs can benefit from raising their credit scores. 

Venture capitalists and angel investors often check the credit scores of the business owners they want to fund. If your score is lacking, your business is going to have a harder time getting off the ground. Read more at Forbes.

To learn more about your credit score (and how to improve it) check out our ebook “Credit Workbook: The OppLoans Guide to Understanding Your Credit, Credit Report and Credit Score !”

Consumer debt reaches a record $12.8 trillion. 

The Federal Reserve Bank of New York revealed this worrying stat in its quarterly Household Debt and Credit Report.

Read more at:

Three U.S. pension funds sue six global banks. 

The pension funds claim the banks conspired to block competition in the stock-lending market. Read more at FOX Business.

Sacramento payday lender sued for telephone harassment. 

A California woman has filed a class-action lawsuit against payday lenders WD Services LLC and Does 1 thought 10 for contacting her via an automatic telephone dialing system despite her not giving them permission to do so. Read more at the Northern California Record.

If you’ve been trapped by a payday or predatory lender, here are tips from our blog that will help you fight back!

Yet another account scandal from Wells Fargo. 

The bank is now being accused of freezing or closing outright the accounts of customers experiencing financial hardship.

Read more at:

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