The Supreme Court on Friday agreed to hear a case called Cantero v. Bank of America, concerning preemption under the National Bank Act. The petition describes the issue this way: “At least thirteen states have enacted laws requiring mortgage lenders to pay a minimum interest rate on funds held in mortgage escrow accounts. Congress has […]
Here. The discussion draws on Professor Budnitz’s article, New Developments in Payment Systems and Services Affecting Low-Income Consumers: Challenges and Opportunities, Georgetown Journal on Poverty Law and Policy (2023).
Jamie Huber brought a putative class action under the FDCPA, alleging that confusing collection letters she received from Simon’s Agency, Inc. were misleading and deceptive. A district court certified a class, and granted summary judgment in its favor. In so doing, it found that Ms. Huber had standing based on an informational injury, and that […]
New data from the Federal Trade Commission shows that scams originating on social media have accounted for $2.7 billion in reported losses since 2021, more than any other contact method. The FTC says that the most frequently reported scams on social media are related to online shopping, with 44 percent of reports pointing to fraud […]
The Consumer Financial Protection Bureau has announced the appointment of new members to the Consumer Advisory Board, Community Bank Advisory Council, Credit Union Advisory Council, and Academic Research Council. See here.
Here. The Steiger Fellowship program is an ABA-funded paid summer internship that places students in AG’s offices around the country to do consumer protection work.
Here, by Investopedia’s Diccon Hyatt. I particularly like the quote from Dalie Jiminez.
Here, by Christopher Connelly at public radio station KERA
When a consumer finds an error on his or her credit report, the FCRA provides two mechanisms for raising a dispute. The consumer can raise a “direct” dispute with the person or entity that furnished the incorrect or incomplete information (the “furnisher”), or an “indirect” dispute with the credit reporting agency, which then must provide […]
The Federal Trade Commission and the Consumer Financial Protection Bureau together filed an amicus brief in a case before the Second Circuit Court of Appeals in support of consumer protections under the Fair Credit Reporting Act (FCRA). The agencies’ brief supports the appeal of the district court’s decision in Suluki v. Credit One Bank, NA. […]