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New York Amends Contact Requirements For Certain Delinquent Borrowers

Source-site A&B ABstract: On February 24, Governor Kathy Hochul signed into law Assembly Bill 8771 (2022 N.Y. Laws 48), amending single point of contact requirements for certain delinquent borrowers.  What changes does the measure require for servicer protocols? New York SPOC…
Legal News

Utah Passes Privacy Legislation UCPA

Source-site At last count, at least 39 states have introduced (or passed) comprehensive privacy legislation. After what was previously a watch-and-wait game of legislative whack-a-mole, we are now seeing this legislation get passed and implemented more regularly and with greater…
Government News

American Express suspends operations in Russia and Belarus

Source-site WASHINGTON (Reuters) -American Express Co said on Sunday it was suspending all operations in Russia and Belarus, joining a growing number of Western corporations to boycott business there over Moscow’s invasion of Ukraine. © Reuters/DADO RUVIC A credit card…
Government News

CA Bill Aims To Cut Interest Levied By Courts In Debt Cases

Source-site CALIFORNIA — Interest levied by California courts on unpaid consumer and personal debt would be cut by more than half if a bill introduced by state Sen. Nancy Skinner, D-Oakland, becomes law. Skinner announced the introduction of SB 1200…
Government News

CFPB, State Attorneys General Probe Block Over Cash App

Source-site Digital payment company Block, run by CEO Jack Dorsey, is now being investigated by the Consumer Financial Protection Bureau and several state attorneys general regarding its Cash App service, Bloomberg wrote Friday (March 4). The CFPB has requested information…
Government News

U.S. States With The Most People Behind On Their Rent Payments

Source-site Throughout the COVID-19 pandemic, growing rent debt and the possibility of widespread evictions have been a major worry for many households and for the economy as a whole. Renters are more likely to work in the sorts of lower-wage occupations that…
Legal News

Court Finds Text Messages Do Not Qualify As Artificial Or Prerecorded Voice Messages Under The TCPA

Source-site In Eggleston v. Reward Zone USA LLC, No. 2:20-cv-01027-SVW-KS (C.D. Cal. Jan. 28, 2022), the U.S. District Court for the Central District of California rejected the argument that text messages are “artificial or prerecorded voice messages” under the Telephone Consumer…
Legal News

CFPB Weighs Ban On Medical Debts In Credit Reports

Source-site More than half of the debt that appears on credit reports as being in collection stems from medical bills, the agency found. Unpaid medical bills became a bigger concern during the pandemic, and now, a federal consumer agency is…
Educational News

Student loans will now take 40 years to repay

Source-site A stealth tax on students in England, said Labour of the government’s planned reforms of student financing, and that is indeed what it amounts to. A complicated one, for sure, with some sugar to help the medicine go down. Annual fees will…
Educational News

CFPB Updates Exam Procedures for Remittance Transfers

Source-site On February 14, the Consumer Financial Protection Bureau (CFPB) updated its Supervision and Examinations Manual to reflect changes it made to the Remittance Transfer Rule (Rule) in a final rule published on June 5, 2020. The changes made to Subpart B of Regulation…