RISMEDIA, July 8, 2011—The Dodd-Frank Wall Street Reform and Consumer Protection Act has many components and one of the biggest ones is about to debut. The Consumer Financial Protection Bureau (CFPB) is slated to start operations on July 22, 2011. The truth is that work is already being done behind the scenes and has been [...]

Sales of previously owned homes rose in September for the second straight month. The National Association of Realtors (NAR) on Monday reported a 10 percent jump. The month-to-month gain was more than analysts were expecting, and NAR says the latest numbers “affirm a sales recovery has begun.” Some market observers, though, suggest such an assertion [...]

Wells Fargo will no longer delay foreclosure proceedings in hopes that a short sale deal will come through. According to an American Banker report, the bank has stopped granting extensions for distressed homeowners to complete short sales. The paper, citing a memo Wells emailed to short sale vendors, said the lender will no longer postpone [...]

NEW YORK (CNNMoney.com) — The amount of credit card debt consumers are carrying dropped to an eight-year low and delinquencies continued to decline in the second quarter as consumers looked to shore up their savings. Credit card debt fell 4.1% to an average $4,591 during the quarter, according to credit bureau TransUnion. That marks the [...]