Government News

On November 1, the New York City Department of Consumer and Worker Protection (NYC DCWP) announced that the effective date for the amended debt collection rules has been officially moved to April 1, 2025. Late last month, we discussed how the NYC DCWP had…

The Federal Trade Commission is taking action against a Georgia-based debt collector that tricked consumers into paying more than $7.6 million in bogus debt by threatening them with jail time, harassing their family members, and other unlawful actions. In response…

Diamond Sports moved closer to exiting bankruptcy on Thursday after a bankruptcy judge approved its reorganization plan, which slashes the hefty debt load that toppled the company. The green light is a significant milestone for the owner of regional sports…

The Consumer Financial Protection Bureau (CFPB) is targeting illegal practices among medical debt collectors. The practices include “double-dipping” to get paid for services covered by insurance, harassing consumers to pay “fake or exaggerated charges,” misrepresenting consumers’ rights to contest bills, and collecting debts without…

Oct 1 (Reuters) – The top U.S. consumer financial watchdog on Tuesday warned medical debt collectors they face enforcement action by federal regulators if they illegally attempt to collect on inaccurate or legally invalid medical debts. Around 100 million Americans…

WashingtonCNN —  A key driver of the US economy remains solid. Spending at US retailers rose 0.1% in August from the prior month, the Commerce Department reported Tuesday. That’s a much slower pace than July’s upwardly revised 1.1% gain, but well…

The Fair Debt Collection Practices Act (FDCPA) serves as a foundational piece of legislation protecting consumers from abusive debt collection practices. This blog post outlines key elements of the FDCPA, covering crucial sections such as communication guidelines, legal limitations, and consumer rights.…

Aug 26 (Reuters) – A federal judge on Monday rejected a banking industry-backed challenge to a rule adopted by the U.S. Consumer Financial Protection Bureau that requires lenders to gather demographic data on small business borrowers. U.S. District Judge Randy…

US stocks wavered Wednesday, giving back earlier gains as investors tried to recover from the week’s bruising losses. The Dow fell 234 points, or 0.6%, after gaining more than 400 points earlier in the day. The S&P 500 declined 0.8% and the…

In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations. The popularity of Buy Now, Pay Later exploded at the start of the coronavirus…