ProPublica reports that online lenders tied to Native American tribes claim that they aren’t subject to state lending laws, but then have backed away from operating in six states where attorneys have acted forcefully to protect consumers. The story is here.
Author Archives: Allison Zieve
Read “The Tribal Lending Industry Offers Quick Cash Online at Outrageous Interest Rates. Here’s How It’s Survived,” from ProPublica this week.
The FTC reports: “Grubhub will pay $25 million to settle charges from the Federal Trade Commission and the Illinois Attorney General that the food delivery firm engaged in an array of unlawful practices including deceiving diners about delivery costs and blocking their access to their accounts and funds, deceiving workers about how much money they […]
As Christine reported, the Consumer Financial Protection Bureau issued a rule just yesterday to cap overdraft fees. Already, a group of banking associations have challenged it. The complaint, filed in Mississippi, is available here.
The Consumer Financial Protection Bureau has released a report examining federal and state-level privacy protections for consumers’ financial data. The report notes that protections under federal regulations for financial data have limits. Yet, many new state data privacy protections exempt financial institutions and consumer financial data covered by federal law, even though states generally have […]
The Consumer Financial Protection Bureau issued results from its Student Loan Borrower Survey, providing insights into the effects of student loan debt relief programs and the challenges borrowers face in navigating repayment options. The survey, conducted between October 2023 and January 2024, gathered data from a representative sample of student loan borrowers as the federal […]
The Federal Trade Commission took action against Credit Karma in 2022, alleging that the company told consumers they were “pre-approved” and had “90% odds” of approval to entice them to apply for credit card offers that, in many instances, they ultimately did not qualify for. Credit Karma later agreed to to stop making these types […]
Today, the Consumer Financial Protection Bureau and the Centers for Medicare & Medicaid Services issued a joint statement concerning unlawful medical bills charged to people with Medicare living at or below the poverty line — about one in eight Medicare recipients nationwide. Federal law generally prohibits healthcare providers who accept Medicare from billing them for […]
ProPublia reports that, “[f]acing financial ruin, the Lac du Flambeau tribe began offering short-term loans online with annual rates often over 600%. But as the tribe rose in an industry derided for predatory practices, it put its reputation at risk and drew costly lawsuits.” The article is here.
The Hill reports that Home Depot has agreed to pay nearly $2 million to settle a civil complaint from multiple California district attorneys alleging the company took part in false advertising and unfair competition. The story is here.