After COVID-19 was declared a pandemic in March 2020, banks and credit unions began offering borrowers hardship accommodations so the trauma of layoffs or furloughs wouldn’t be compounded by defaults. The NCUA and the FDIC encouraged such programs, and the … Continue reading →
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A new report shows your credit score may have been damaged from your student loans. Here’s what you need to know—and what it means for your student loans. Student Loans Multiple student loan servicers — the companies that manage your … Continue reading →
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U.S. District Court Judge Brett H. Ludwig has issued two nearly identical sanction orders against plaintiffs in two separate cases which had alleged the various defendants violated the Fair Credit Reporting Act and did not correct and report consumers’ accurate … Continue reading →
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A resurgence of credit unions buying banks has led to a fresh outcry by bank industry lobbyists, who say the activity demonstrates how credit unions are taking advantage of their federal tax exemption in ways Congress never intended. Banking advocates … Continue reading →
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Eighteen of the country’s biggest banking consumer financial advocacy groups are insisting the Consumer Financial Protection Bureau enact a regulation which would require banks and credit unions to give people easy, sharable access to their banking information. And while it … Continue reading →
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Less than a month after it was signed by Nevada Gov. Steve Sisolak, the state’s new medical debt bill will take effect on July 1. The new law requires debt collectors, as defined by statute, to provide medical debtors with … Continue reading →
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The U.S. Department of Education building is pictured in Washington on Monday, July 13, 2020. Caroline Brehman | CQ-Roll Call, Inc. | Getty Images The Department of Education has failed to collect more than $1 billion in debt from … Continue reading →
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CC / depositphotos Wisconsin’s governor, attorney general, and Department of Justice are suing the Legislature’s Joint Finance Committee. The suit filed Tuesday asks that an injunction be placed on a 2018 law that gives legislators significant oversight of Attorney General … Continue reading →
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On June 2, Nevada Gov. Steve Sisolak signed S.B. 248, which requires a collection agency to notify a consumer before taking any action to collect a medical debt and prohibits certain practices relating to the collection of medical debt. The … Continue reading →
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Massachusetts AG Maura Healey reached a settlement with subprime automobile finance company United Auto Credit Corporation (“UACC”) to resolve allegations that it facilitated the sale of defective vehicles and forced some consumers to sign Voluntary Surrender Agreements with broad release … Continue reading →
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