The National Consumer Law Center is holding its annual Consumer Rights Litigation Conference in person for the first time since 2019. Details about the conference, to be held November 10-13 in Seattle, are here.
Author Archives: Allison Zieve
Today, the Consumer Financial Protection Bureau released a special edition of Supervisory Highlights on recent examination findings covering the practices of student loan servicers, and schools that lend to students directly. The exams found that these schools had improper blanket policies of withholding transcripts to force students to make payments. The CFPB also found that […]
The Consumer Financial Protection Bureau published a report today on the "Buy Now, Pay Later" industry. The report, Buy Now, Pay Later: Market trends and consumer impacts, finds that industry grew rapidly during the pandemic, and that borrowers may receive uneven disclosures and protections. The five firms surveyed in the report originated 180 million loans […]
Patagonia founder's is giving away his company, reportedly worth about $3 billion. The company will now be in the hands of a trust and a nonprofit organization. All future profits will be donated to help fight climate change. CNBC has the story, here.
The Consumer Financial Protection Bureau has "released an Issue Spotlight highlighting some of the difficulties and experiences heard from caregivers about being pursued over friends’ or family members’ alleged debts from nursing home facilities. Based on the findings in the report, the CFPB and the Centers for Medicare & Medicaid Services have issued a joint […]
The Federal Trade Commission is seeking public comment on how children are affected by digital advertising and marketing messages that may blur the line between ads and entertainment. The FTC is seeking the input in conjunction with an October 19, 2022 event that will examine the topic. More information is here.
Two announcements today from the CFPB: CFPB Warns that Digital Marketing Providers Must Comply with Federal Consumer Finance Protections Today, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule laying out when digital marketing providers for financial firms must comply with federal consumer financial protection law. CFPB Takes Action Against Hello Digit for Lying […]
This week, the Consumer Financial Protection Bureau published an analysis of how actions announced by the three largest national consumer reporting companies – Experian, Equifax, and TransUnion – will affect people who have allegedly unpaid medical debt on their credit reports. “Nearly half of those with medical collections appearing on their credit reports will continue […]
The Consumer Financial Protection Bureau has issued a legal interpretation to ensure that companies that use and share credit reports and background reports have a permissible purpose under the Fair Credit Reporting Act. The CFPB’s new advisory opinion makes clear that credit reporting companies and users of credit reports have specific obligations to protect the […]
Today, the Consumer Financial Protection Bureau fined Bank of America $100 million for botching the disbursement of state unemployment benefits at the height of the pandemic. The CFPB said that "Bank of America automatically and unlawfully froze people’s accounts with a faulty fraud detection program, and then gave them little recourse when there was, in […]