Trade Groups Challenge CFPB Credit Card Rule in Court, CFPB Accuses Them of “Forum Shopping” for Favorable Judge
Trade Groups Challenge CFPB Credit Card Rule in Court, CFPB Accuses Them of “Forum Shopping” for Favorable Judge At the beginning of March, the Consumer Financial Protection Bureau (CFPB) finalized its rule cutting the typical credit card late free from $32 to $8. Two...
Michigan Senate Passes 36% Rate Cap on Payday Loans
Michigan Senate Passes 36% Rate Cap on Payday Loans After Michigan’s Board of State Canvassers declined to certify a ballot initiative proposal to cap interest and fees on payday loans in 2022, the Michigan State Senate last week passed legislation that would cap...
New Report Finds Half of Loan Applicants Have Been Denied Since Fed Rate Increases Began Two Years Ago
New Report Finds Half of Loan Applicants Have Been Denied Since Fed Rate Increases Began Two Years Ago According to a new Bankrate report, half of applicants have been turned down for a loan or financial product since the Federal Reserve began raising interest rates...
