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CFPB And FTC File Joint Amicus Brief In 3rd Circuit FCRA Case

Weiner Brodsky Kider PC, September 23, 2022 Recently, the CFPB and FTC filed an amicus brief in a Third Circuit FCRA case asserting that furnishers are required to investigate any dispute forwarded to them by a credit reporting company (i.e.,…
Government News

The US cities where home values are most likely to plummet in a recession

JORDAN HART, SEPTEMBER 17, 2022 A new report reveals which US cities would be most vulnerable to housing-market declines in an economic downturn. On Wednesday, real estate data company, ATTOM Data Solutions, published its Special Housing Risk Report for the second…
Bankruptcy News

Colorado bankruptcies drop 5.7% in August

CHRISTOPHER WOOD, September 16, 2022 Colorado bankruptcies declined 5.7% in August compared with the same period a year ago, even as Larimer and Weld counties recorded increases. Boulder County bankruptcy filings declined, with a slight uptick in Broomfield. That’s according…
Educational News

New York officials: Be on the look out for student loan scams

NICK REISMAN, SEPTEMBER 16, 2022 Student borrowers in New York state should be mindful of potential debt relief scams as the federal government moves to provide up to $20,000 in debt forgiveness, Gov. Kathy Hochul on Friday said. “New Yorkers…
Educational News

California Regulator Proposes Changes to Student Loan Servicing Laws

Pouneh Almasi, September 15, 2022 On August 30, the Commissioner of the California DFPI issued a notice of rulemaking proposing new regulations and amendments to current regulations implementing the state’s student loan servicing laws. The proposed regulations aim to implement the provisions…
Legal News

Eleventh Circuit Dismisses Debt Collection Letter Case For Lack Of Standing

A.J. Dhaliwal, September 15, 2022 On September 8, the U.S. Court of Appeals for the Eleventh Circuit issued an order in Hunstein v. Preferred Collection and Management Services, Inc. dismissing the case after determining that plaintiff failed to allege a concrete harm, and…
Legal News

CFPB Warns Of Consumer Risk Over New Payment Products, Foreshadows Supervision Of BNPLs

Moorari Shah, September 15, 2022 Recently, the CFPB released a report outlining the challenges and risks inherent in the rapid evolution of the payment ecosystem, with a particular focus on emerging uses cases involving “super apps,” buy now, pay later (BNPL), and embedded payments, as…
Government News

U.S. Foreclosure Starts Reach Pre-Pandemic Levels Nationwide

ATTOM Data Solutions, September 08, 2022 Illinois, Delaware and South Carolina had the Highest Foreclosure Rates; Completed Foreclosures Increase 28 Percent from Last Month IRVINE, Calif., Sept. 8, 2022 /PRNewswire/ — ATTOM, a leading curator of real estate data nationwide…
Bankruptcy News

Bank Profits Rise Despite Headwinds

DANIAL CLARK, September 09, 2022 U.S. bank profits climbed 7.8% in the second quarter of 2022 from the previous quarter, according to the Federal Deposit Insurance Corporation (FDIC). The agency said banks reported $64.4 billion in profits as higher net interest…
Educational News

University Credit Union and UC San Diego Announce Partnership In Support of California Higher Education

University Credit Union, September 08, 2022 LOS ANGELES, Sept. 8, 2022 /PRNewswire/ — University Credit Union (UCU) is excited to announce its newest partnership with UC San Diego. The partnership will seek further success within the California higher education sector…