The U.S. Court of Appeals for the Sixth Circuit recently reversed a trial court order granting summary judgment in favor of the defendant on a consumer’s claim that the defendant violated the federal Fair Debt Collection Practices Act. In … Continue reading →
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Credit card charge-offs, reported by the Federal Reserve, hit the lowest level since 2Q1985. That is a record set almost forty years ago. Then, Ronald Reagan was in office, Paul Volcker was Chairman of the Fed, the ‘49ers won the … Continue reading →
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Credit rating giant TransUnion announced a deal to acquire Neustar, an identity resolution company — which tracks and aggregates consumers’ digital activity for marketing and anti-fraud applications — for $3.1 billion in cash. The deal is expected to close in … Continue reading →
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By Pete Schroeder © Reuters/REUTERS FILE PHOTO FILE PHOTO: A combination file photo shows Wells Fargo, Citibank, Morgan Stanley, JPMorgan Chase, Bank of America and Goldman Sachs from Reuters archive WASHINGTON (Reuters) -U.S. bank profits fell 8.3% to $70.4 billion … Continue reading →
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The recent decision by the U.S. Supreme Court on Article III standing in the Fair Credit Reporting Act (FCRA) cases created in TransUnion v. Ramirez has now been applied to a case regarding the Fair Debt Collection Practices Act (FDCPA) … Continue reading →
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Anyone can be a banker these days, you just need the right code. Global brands from Mercedes and Amazon to IKEA and Walmart are cutting out the traditional financial middleman and plugging in software from tech startups to offer customers … Continue reading →
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On September 13, 2021, the Federal Trade Commission published final revisions to five rules promulgated pursuant to the Fair Credit Reporting Act (“FCRA”), to clarify that the rules apply only to motor vehicle dealers. The final revisions were made to bring the … Continue reading →
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TransUnion (NYSE: TRU) will buy Neustar for $3.1 billion in cash, the credit reporting company announced in a press release on Monday. Bringing the information services firm under its umbrella will help TransUnion expand its footprint in digital marketing and … Continue reading →
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While total credit card balances have fallen substantially during the COVID-19 pandemic, this big-picture improvement obscures some significant struggles at the household level. Many renters are caught in the crosshairs, and the situation could get much worse following the Supreme … Continue reading →
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Credit Acceptance Corporation CACC finally announces the settlement of the lawsuit with the Massachusetts Attorney General. In August 2020, AG Maura Healey filed a lawsuit in Suffolk County Superior Court, claiming that Credit Acceptance violated state consumer protection and debt … Continue reading →
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