On July 16, the FTC and the Florida attorney general announced that the U.S. District Court for the Middle District of Florida granted a temporary restraining order against an allegedly fraudulent credit card interest rate reduction operation. According to the … Continue reading →
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Data sets that auto lenders typically use to determine who is creditworthy have been upended by the fallout of the coronavirus, consumer credit experts say. As a result, lenders concerned with loan losses and fraud have clamped down on access … Continue reading →
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AGF Investments chief U.S. strategist Greg Valliere on how increasing coronavirus cases in some states, a Biden presidency and another round of stimulus could impact markets. American credit card debt plummeted during the coronavirus pandemic, dropping below $1 trillion for the … Continue reading →
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WASHINGTON—The Supreme Court will hear arguments in a case challenging the single-director structure of the Federal Housing Finance Agency, weeks after the court ruled that the directorship of the Consumer Financial Protection Bureau was unconstitutional. Fannie Mae and Freddie Mac … Continue reading →
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The Ninth Circuit recently issued an opinion addressing standing and willfulness under the Fair Credit Reporting Act (FCRA). In Ramirez v. TransUnion,[1] the Ninth Circuit affirmed a jury verdict and punitive damages award, although it reduced those damages by a … Continue reading →
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The Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking (NPRM) that would amend Regulation Z to provide a new exemption available to certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts … Continue reading →
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According to the survey findings, 40% of respondents lacked a good understanding of the implications of taking on student debt when they elected to seek a loan. (Credit: tattywelshie/iStockphoto.com) Adults in the United States who hold student debt owe $24,155 on average … Continue reading →
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Debt collectors will no longer get an exemption to use robocalls to cellphones. CNET/Marguerite Reardon The US Supreme Court on Monday struck down an exception in federal law that allowed debt collectors to use robocalls to automatically dial cell phones. … Continue reading →
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On Monday, the U.S. House approved H.R. 5332, the Protecting Your Credit Score Act of 2020(Gottheimer-NJ). U.S. PIRG joined other leading advocates of credit reporting reform in a letter to the House last week supporting the bill. As we said in that … Continue reading →
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Lenders who extend you credit — whether it be in the form of a car loan or a new credit card — look at your credit score to decide how likely you are to pay back what you borrow. Your credit … Continue reading →
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