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CFPB Report Shows Credit Card Late Fees Declining

Source-site The Consumer Financial Protection Bureau published on March 29 a report on credit card late fees where the regulator provided data about the amount of late fees charged by type of consumer. The main findings from the report are…
Legal News

New Laws For Background Checks + Late Charges For New York State Landlords

Source-site How much can a landlord charge me for my background check? Can I provide my own background check to a landlord? How much can my late fee be? There are more and more laws being made in New York State by…
Government News

FTC gains court order to stop ‘deceptive’ credit repair firm

Source-site The Federal Trade Commission (FTC) took action against a firm that used a government website as part of its scheme connected with consumer credit reports. This week, the FTC obtained an order halting a credit repair scheme that allegedly…
Educational News

8 Million Borrowers At Risk If Student Loan Payment Pause Ends

Source-site A new report claims that 8 million student loan borrowers will be at risk if the student loan payment pause ends. Here’s what you need to know — and what it means for your student loans. Student Loans The California…
Bankruptcy News

Medical debt isn’t all that indicative of bankruptcy

Source-site Credit rating agencies have just declared that most medical debt will no longer appear on credit records. Why have they done this? These are capitalist organizations. They do not change policy due to some outbreak of suddenly being caring. Why…
Educational News

SoFi CEO on Biden and student loan forgiveness: ‘This is classic leadership by indecision’

Source-site A major student loan refinancing company has joined the chorus of voices calling for broad-based student loan forgiveness as millions of borrowers brace for the end of the pandemic payment pause. “This is classic leadership by indecision — and it’s exactly…
Legal News

DFPI marks success in implementation of the California Consumer Financial Protection Law

Source-site A year after implementing one of the most expansive consumer protection laws in the country, the Department of Financial Protection and Innovation (DFPI) announced it has collected close to $1 million in restitution for consumers, fielded hundreds of additional…
Legal News

CFPB reports cover mortgage challenges, emergency savings

Source: site On March 23, the CFPB released two reports, New Data on the Characteristics of Mortgage Borrowers During the COVID-19 Pandemic and Emergency Savings and Financial Security: Insights from the Making Ends Meet Survey and Consumer Credit Panel. As previously covered by InfoBytes, the CFPB…
Educational News

Private lenders lobby to restart federal student loan payments

Source-site SoFi is one of the private student lenders lobbying to stop, or at least curtail, the pandemic-related moratorium on federal student loan payments that is now stretching into a third year. | Justin Sullivan/Getty Images Private student lenders are…
Bankruptcy News

U.S. bankruptcy filings creep up in February, but stay lower than prepandemic

Source-site The total number of new U.S. bankruptcy filings were 26,985 in February, up 3.2% from January, driven by individual filings, according to data from Epiq Bankruptcy Technology. New Chapter 7 individual bankruptcies’ filings were 15,196 in February, up 1.1% over the…