Oct 9, 2024 | Federal Regulation, News
CFPB Issues Warning to Medical Debt Collectors The Consumer Financial Protection Bureau (CFPB) has started crafting a bill that would bar the reporting of medical debt on consumer credit reports, part of a broader push by the agency against medical debt. The CFPB has...
Oct 3, 2024 | Congressional Legislation, Federal Regulation, News
Senate Democrats Ask CFPB to Enact Stricter Guardrails for BNPL Providers Several Senate Democrats wrote a letter to the Consumer Financial Protection Bureau (CFPB) urging the agency to establish stricter guidelines for buy now, pay later (BNPL) lenders and arguing...
Oct 1, 2024 | Federal Regulation, News
California Enacts Package of Consumer Protection Bills Last week, California enacted a package of consumer protection laws, including three bills aimed at restricting debt collection practices surrounding civil actions for money judgments, commercial debt collection,...
Sep 25, 2024 | Federal Regulation, News
CFPB Policy Reminder Says Banks Must Maintain Proof Consumers Opted In to Overdraft Fees The Consumer Financial Protection Bureau (CFPB) recently said in a policy reminder that banks must keep evidence that customers have opted in to overdraft coverage. As a default,...
Sep 19, 2024 | Federal Regulation, News
CFPB Report States Most Frequent Consumer Debt Collection Complaints Last Year Were Attempts to Collect Debts That Were Not Owed The Consumer Financial Protection Bureau’s (CFPB) annual Fair Debt Collection Practices Act report stated that in 2023, the most frequent...
Sep 17, 2024 | Banks & Credit Unions, Financial Literacy, News
Loan Delinquencies Beginning to Level Off Bankers and industry analysts recently said that U.S. consumers’ late payments on credit cards and other loans have leveled off in recent months after rising earlier this year. Delinquency rates fell to just over 2 percent in...
