Consumer Groups Urge Regulation of Nonbank Finance
While much of the Congressional debate over consumer financial protection has focused on banks, lawmakers have been grappling behind the scenes over whether and how to regulate payday lenders, debt collectors, check-cashing outlets, title and installment lenders and even pawnbrokers, The New York Times Sewell Chan reports. Many of these companies primarily take aim at lower-income customers, and consumer advocates say the companies are far less regulated than banks. Oversight of such companies has been left largely to the states. The Federal Trade Commission has brought fewer than 25 lawsuits in the last five years against mortgage originators, payday lenders and debt collectors, officials said. It has only 70 staff members to cover about 10,000 such companies nationwide, and does not have the authority to conduct compliance exams, as bank regulators do. [Read the full article]
During National Consumer Protection Week Capital One Offers Important Tips to Stay Safe from ID Theft and Fraud While Online
Capital One Financial Corporation (NYSE: COF – News) joins government agencies and national advocacy organizations in support of National Consumer Protection Week, March 7-13, 2010. This year theme, Dollars & Sense: Rated “A” for All Ages, focuses on helping people at all stages of life become informed and empowered consumers. With consumers, from teens to seniors, increasingly using online and mobile technologies, it is important for people of all ages to know how they can steer clear of online scams and identify theft.
A recent study, which shows a significant increase in identity fraud in 2009, highlights the need for greater consumer awareness when it comes to avoiding scams and identity theft. [Read the full article]
CapitalSource Inc. (NYSE:CSE – News) today announced a quarterly cash dividend of $0.01 per share on its common stock for the first quarter 2010. The dividend will be payable on or about March 31, 2010 to shareholders of record on March 17, 2010. The ex-dividend date will be March 15, 2010.
CapitalSource Inc. (NYSE:CSE – News) is a commercial lender that provides financial products to middle market businesses and offers depository products and services in southern and central California through its wholly owned subsidiary CapitalSource Bank. As of December 31, 2009, CapitalSource had total commercial assets of $9.2 billion and $4.5 billion in deposits. The Company is headquartered in Chevy Chase, MD. Visit www.capitalsource.com for more information. [Read the full article]
Technology leasing has become increasingly popular for companies seeking to enhance their competitive edge while also advancing their “green” strategies, according to Ron Arrington, President of Vendor Finance for CIT Group Inc. (NYSE: CIT – News), a leading provider of financing to small businesses and middle market companies. These are just some of the benefits of technology leasing that Arrington discusses in “Technology Financing as a Strategic Tool,” the latest installment of CIT award-winning “5 Minute Capital” (www.5minutecapital.com) podcast series.
In describing how technology leasing is helping companies go “green” Arrington explains, “If you think about the amount of technology that companies have in their data centers, they use tremendous amounts of energy, which is a big cost for them. [Read the full article]