Legal News

Source-site BOSTON (AP) — A subprime auto lender has agreed to pay more than $5.5 million to Massachusetts to resolve allegations that it did not provide proper explanations about its auto loan debt collection practices to consumers, the state attorney general’s office…

Source-site The United States District Court for the Eastern District of Pennsylvania recently held that a debt collector’s communication with a letter vendor could constitute an FDCPA violation. See Khimmat v. Weltman, Weinberg & Reis Co., LPA, 2022 U.S. Dist. LEXIS 21076…

Source-site LUBBOCK, Texas (KCBD) – The grand opening for Capital Federal Credit Union is scheduled to happen at 3 p.m. today at 4210 50th Street. The vision is to serve Lubbock’s underserved communities. Royce and Linda Lewis, owners of Capital…

Source-site In one of the first efforts to tally the impact of recent overdraft fee reforms, a new analysis finds that changes under way at just five banks could save consumers more than $2 billion annually. The Pew Charitable Trusts…

Source-site Veterans who owe money to the Department of Veterans Affairs will have a better chance to avoid having their debt reported to consumer reporting agencies (CRAs). VA has amended its procedures for reporting these debts until all available efforts…

Source-site The Consumer Financial Protection Bureau’s Director Rohit Chopra raised hackles by launching a broad inquiry last week into so-called “junk fees” charged on run-of-the-mill financial products such as loans, mortgages and credit cards. “Service charges inflate ticket prices, resort fees hike…

Source- site The Consumer Financial Protection Bureau increased the maximum civil penalty it can impose within its jurisdiction after Jan. 15, 2022. The increases are mandated by federal law, which requires agencies to adjust for inflation each civil monetary penalty…

Source- site RICHMOND, Va. – Virginia Attorney General Jason Miyares announced last week an internal policy that will immediately provide relief to working families and students struggling with student debt. The Office of the Attorney General is statutorily required to…

Source- site WASHINGTON — The U.S. Chamber of Commerce is taking on an increasingly visible role in the confirmation process for the Biden administration’s financial regulatory nominees, another indication of the ripple effects banking policy is having across the broader business…

Source- site The CFPB settled a Federal Advisory Committee Act (FACA) lawsuit, which alleged that the CFPB’s 2019 Taskforce on Federal Consumer Law (the Taskforce) did not comply with FACA’s public disclosure of documents requirement.  The CFPB created the Taskforce to provide…