FREMONT, CA — California would require debt collectors and buyers operating in the state to be licensed under a bill approved Tuesday by the state Legislature that now goes to Gov. Gavin Newsom for consideration. State Sen. Bob Wieckowski (D-Fremont) … Continue reading →
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The Consumer Financial Protection Bureau is adopting new procedures for external peer review of important research—with out-of-statute debt disclosures and quantitative testing issued in February 2020 as a starting point. CFPB experts conduct various types of research to develop evidence … Continue reading →
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Credit Acceptance Corp., one of the nation’s largest auto lenders to people with low credit scores, was slapped with a lawsuit from Massachusetts on Monday. The suit, which was brought by the office of Massachusetts Attorney General Maura Healey, alleges … Continue reading →
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Healey BOSTON (Legal Newsline) – A debt collector is suing Massachusetts Attorney General Maura Healey, claiming an unconstitutional requirement violates its right to free speech. Credit Acceptance Corporation filed its case Aug. 21 in Massachusetts federal court in an effort … Continue reading →
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The Consumer Financial Protection Bureau (CFPB) issued a report Monday examining the early effects of the COVID-19 pandemic on consumer credit. The report found that consumers have not experienced significant increases in delinquency or other negative credit outcomes as reported … Continue reading →
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SKOWHEGAN, Maine (WABI) – According to a U.S. Census Bureau survey conducted last month, around a quarter of American adults have either missed a rent or mortgage payment, or expect to miss one soon. Staff at Franklin-Somerset Federal Credit Union … Continue reading →
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On July 30, the Massachusetts attorney general announced a Nevada-based debt buyer Troy Capital will discharge nearly $300,000 in student loan debt in connection with a for-profit education company, The College Network, Inc. (TCN). TCN sold allegedly ineffective online study guides … Continue reading →
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The Attorney General of Pennsylvania, Joshua Shapiro, earlier this week announced an important win in a decision from the United States Court of Appeals. This decision is part of the Office of Attorney General’s ongoing court battle with Navient, the … Continue reading →
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The plaintiff incurred a debt to a medical provider who placed the debt with a debt collector. The collection letter from the debt collector included a request for repayment of principal and interest. The plaintiff filed a lawsuit alleging that … Continue reading →
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The Consumer Financial Protection Bureau (Bureau) announced today that it will provide an additional 60 days for public comment on its Request for Information (RFI) on how best to create a regulatory environment that expands access to credit and ensures … Continue reading →
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