|
|
|
|
|
|
Credit Union Assets, Lending, and Delinquencies Rise in 2nd Quarter
ALEXANDRIA, Va. (Sept. 7, 2023) – According to the latest financial performance data released today by the National Credit Union Administration, total assets in federally insured credit unions increased $82 billion, or 3.8 percent, over the year ending in the second quarter of 2023, to $2.22 trillion.
Read More |
CFPB Director Announces Intention to Propose Rules Targeting the Reliance on Non-Traditional Data Sources in Consumer Finance
Long gone are the days when a bank or finance company relies simply on a traditional credit score or report to decide whether to make a loan. For some time now, banks and consumer finance companies have sourced data from a variety of providers to prevent consumer fraud and ID theft, among other reasons.
Read More |
State lawmakers find America’s medical debt problem ‘can no longer be ignored’
In the absence of federal consensus and in anticipation of congressional inaction, state legislators have enacted a variety of consumer protections to mitigate or forestall medical debt. Several more bills are being debated in the coming weeks, expected to be signed later this year and taken up when sessions reconvene in 2024.
Read More |
CFPB files opposition to preliminary injunction motion of plaintiffs in Kentucky lawsuit challenging CFPB’s small business lending rule
The CFPB has filed its opposition to the motion for a preliminary injunction filed by the plaintiffs in the Kentucky federal court lawsuit challenging the CFPB’s final small business lending rule (Rule).
Read More |
New Jersey Federal Court Dismisses FDCPA Claim Based on Alleged Failure to Obtain Proper License for Lack of Standing
In Valentine v. Mullooly, Jeffrey, Rooney & Fylnn LLP the U.S. District Court for the District of New Jersey found that the plaintiff had not suffered an injury in fact and therefore lacked standing to assert a claim under the Fair Debt Collections Practices Act (FDCPA).
Read More |
Seventh Circuit Affirms Dismissal of FDCPA Claim for Lack of Standing, Holding Hiring a Lawyer and Confusion is Not Enough
The Seventh Circuit Court of Appeals recently affirmed a district court’s dismissal of a suit holding that the plaintiff had not suffered a concrete injury, and therefore, lacked standing to assert a claim under the Fair Debt Collections Practices Act (FDCPA).
Read More |
Apple and Google are ‘choke points’ to equitable payment system: CFPB’s Chopra
Consumer Financial Protection Bureau Director Rohit Chopra said Thursday that Apple (AAPL) and Google (GOOG, GOOGL) are acting as “choke points” to the US payment system, cutting off innovation by keeping other apps out.
Read More |
Wright-Patt Credit Union wins top Air Force award for ‘doing it right’
WRIGHT-PATTERSON AIR FORCE BASE, Ohio – Wright-Patt Credit Union was honored by Wright-Patterson Air Force Base leadership Aug. 24 for going above and beyond in providing the local Air Force community with superior financial services and education.
Read More |
Consumer Alert: Don’t Fall for Student Loan Repayment Scams
As the student loan landscape continues to evolve, borrowers face shifting deadlines, confusion, and uncertainty. As of September 1, 2023, the student loan payment pause has been lifted. Interest is again accruing on federal student loans and payments come due starting in October.
Read More |
From the Web: Experts Suggest Preparing for Possible Federal Overtime Rule Changes Now
Since the U.S. Department of Labor (DOL) announced proposed changes to its overtime rule last week, legal experts say businesses should review their overtime policies and plan for compliance, despite the expected legal challenges to the rule after it is finalized, according to an article from the Society of Human Resource Management (SHRM).
Read More |
Governor Newsom Signs Executive Order to Prepare California for the Progress of Artificial Intelligence
SACRAMENTO – With GenAI’s wide-ranging potential for Californians and the state’s economy, Governor Gavin Newsom today signed an executive order to study the development, use, and risks of artificial intelligence (AI) technology throughout the state and to develop a deliberate and responsible process for evaluation and deployment of AI within state government.
Read More |
Attorney General Ellison opens investigation into 52 student-loan debt-relief companies
September 6, 2023 (SAINT PAUL) — Minnesota Attorney General Keith Ellison announced today that his Office has opened investigations into 52 student-loan debt-relief companies suspected of violating Minnesota law.
Read More |
New Jersey Federal Court Dismisses FDCPA Claim Based on Alleged Failure to Obtain Proper License for Lack of Standing
n Valentine v. Mullooly, Jeffrey, Rooney & Fylnn LLP the U.S. District Court for the District of New Jersey found that the plaintiff had not suffered an injury in fact and therefore lacked standing to assert a claim under the Fair Debt Collections Practices Act (FDCPA).
Read More |
PA lawmakers begin discussions on data privacy legislation
Pennsylvanians could soon have greater control over their digital data if a bill seeking to regulate the use of consumer data makes it to the governor’s desk.
Read More |
Second Circuit Affirms District Court’s Decision Determining That Term Loan Notes Were Not “Securities” Subject To Securities Laws And Regulations
On August 24, 2023, the United States Court of Appeals for the Second Circuit affirmed a decision by the United States District Court for the Southern District of New York dismissing claims brought under state securities laws against a group of banks which acted as arrangers (“Defendants” or the “Arrangers”) for a term loan on behalf of a California-based medical testing company (the “Company”), holding that term loan “notes” issued as part of a syndicated loan were not “securities” subject to securities laws and regulations.
Read More |
CFPB Report Highlights Role of Big Tech Firms in Mobile Payments
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) published a new issue spotlight highlighting the impacts of Big Tech companies’ policies and practices that govern tap-to-pay on mobile devices like smartphones and watches.
Read More |
Factors in Fee-Shifting for Prevailing Defendants
Statutes permitting discretionary attorney fee-shifting for prevailing defendants vary in the circumstances under which fee-shifting is permitted.
Read More |
ARM Industry Claims a Mixed Bag in July
WebRecon’s latest report shows litigation was a mixed bag across the board in July in Fair Debt Collection Practices Act, Telephone Consumer Protection Act and Fair Credit Reporting Act claims.
Read More |
State Regulators Step Up Enforcement of New Privacy Laws
Regulators in California and Colorado recently announced enforcement sweeps under new and newly updated state privacy laws. Companies in Colorado (including nonprofits) and California should double-check their privacy notices, processes and documentation to comply with these laws, particularly the enforcement priorities identified in the notices.
Read More |
Oregon Data Breaches Highlight Need for Tighter Cybersecurity
In an age where our personal information is increasingly vulnerable to cyberattacks, two recent data breaches in Oregon serve as stark reminders of the importance of protecting our identities.
Read More |
California Looks to Amend Data Broker Law
The state of California is on the verge of amending its current data broker law with Senate Bill 362, also known as the Delete Act (“the Act”). The Act passed in the Assembly’s Committee on Privacy and Consumer Protection and has currently been referred to the Assembly’s Committee on Appropriations.
Read More |
4th Circuit: State Law Debt Collection Claims Not Preempted by Bankruptcy Code
A three-judge panel for the U.S. Court of Appeals for the Fourth Circuit recently held that state law claims for a creditor’s alleged improper collection efforts on a debt that has been discharged in bankruptcy are not preempted by the federal Bankruptcy Code.
Read More |
Navy Federal Credit Union and Feeding America® Launch No Plate Left Behind to Fight Hunger in the Military Community
VIENNA, Va. & CHICAGO--(BUSINESS WIRE)--Navy Federal Credit Union and Feeding America, a 501(c)(3) nonprofit and the largest hunger-relief organization in the United States, launched No Plate Left Behind to raise awareness about military food insecurity and help servicemembers, veterans, and their families put food on their tables.
Read More |
CFPB Ombudsman Releases Midyear Report on Consumer Complaint Process and Company Surveys
Consumer Financial Protection Bureau Ombudsman Wendy Kamenshine issued the office’s 2023 Midyear Update, outlining how its work resulted in the CFPB reviewing and standardizing consumer complaint process timeframes.
Read More |
Trade associations urge CFPB to pause effective date and tiered compliance dates of small business lending rule
A group of trade associations has sent a letter to CFPB Director Chopra urging the CFPB to address the disparity that has resulted from the order entered by the Texas federal district court in the lawsuit challenging the CFPB’s small business lending rule that granted preliminary injunctive relief only to the plaintiffs and their members.
Read More |
As payments on federal student loans resume, federal student loan borrowers may be eligible for cancellation or lower payments
In October, millions of federal student loan borrowers will have a payment due on their loans for the first time since March 2020. Many borrowers may be able to reduce their payments or even get their loans cancelled, and they should explore their options before making payments. Borrowers who encounter issues with their student loans should file a complaint with the CFPB.
Read More |
New York Federal Court Sides with CFPB, Denies Debt Holders’ Motions to Dismiss Case Alleging Violations of the FDCPA and CFPA
On August 22, a district court judge in the Western District of New York denied the defendants’ motions to dismiss a case brought by the Consumer Financial Protection Bureau (CFPB) alleging violations of the Fair Debt Collections Practices Act (FDCPA) and Consumer Financial Protection Act (CFPA).
Read More |
Attorney General Bonta Announces Settlement with Mortgage Servicer over Failure to Properly Process Military Reservists’ Mortgage Deferment Requests
OAKLAND – California Attorney General Rob Bonta today announced a settlement with The Money Source, Inc. (TMS), resolving allegations that the company failed to properly process, and timely grant, mortgage deferment requests made by California military reservists called to active duty.
Read More |
|
|
Receivables Management Association International
Chicago Cubs v. Colorado Rockies Baseball Game Coors Field
Denver , CO
September 11 - 11 , 2023
916-482-2462
|
|
Debt Connection Symposium & Expo has returned for 2023! We are headed back to Las Vegas, September 27th - 29th to network and connect with clients, service providers, product suppliers, agencies, and attorneys - at a whole new level.
Red Rock Casino Resort & Spa - Las Vegas
September 27 - 29 , 2023
mark@debtconnectionsymposium.com
|
|
CCUCC - California Credit Union Collectors Councils 36th Annual Collections and Lending Conference is the place to be. We are seeing consumer debt especially credit card debt at an all time high. There is no other place to help you prepare for what’s to come. Join the growing number of credit union professionals attending this event!
Planet Hollywood Resort and Casino
Las Vegas , Nevada
October 19 - 21 , 2023
Visit us at www.ccucc.com/annualconference Or contact Conference chair, Joel Bowen at (818)949-5656 – jbowen@cefcu.org
|
|
Cherokee Media Group
Westin Kierlin Resort & Spa
Scottsdale , AZ
November 06 - 09 , 2023
conferences@cherokeemediagroup.com
|
|
|
|
|
