Link roundup: The week’s top 6 subprime stories

Inside Subprime: August 23, 2017

By Caroline Thompson

Happy Friday! Here are all the biggest subprime stories you might have missed this week.

The return of the loan shark. 

How Wall Street private equity firms are taking over predatory lending duties from mom and pop landlords in cities across the country. Read more at The Guardian.

One in eight Oklahomans have taken out a payday loan. 

The state has the highest usage of payday loans in the nation, according to Nick Bourke, director of consumer finance at Pew Charitable Trusts. Read more at Enid News Oklahoma.

Learn more about how payday loans can trap you in a long cycle of debt. 

A good credit score is now a must in the dating scene. 

A new survey has found that a good credit score is more attractive to potential partners than good look, a sense of humor or even cold, hard cash.

Read more at:

Watch Alex explain what makes a good credit score on the most recent installment of our video series, How to Money

U.S. pension funds sue major investment banks over securities lending. 

The lawsuit alleges a group of the world’s biggest investment banks, including Goldman Sachs, JPMorgan, Bank of America and UBS colluded to block competition in the securities lending marketplace.

Read more at:

Wells Fargo predatory lending lawsuit headed to appeals court.

In the wake of several major scandals, Wells Fargo is continuing the fight against a nearly 10-year-old charge of reordering transactions to increase customer overdraft fees. Read more at Benzinga.

FedLoan Servicing sued by Massachusetts attorney general for denying debt relief to public servants. 

The lawsuit accuses the loan company of mishandling applications and setting public servants enrolled in federal debt forgiveness programs months back in their forgiveness timelines.

Read more at:

For help sorting out your student loans, check our our blog post on surviving the student loan battle


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