Legal News

Source-site U.S. Rep. Al Lawson, D-Fla., brought back his “Small Business Fair Debt Collection Protection Act” which he has championed in recent years. The bill extends protections under the Fair Debt Collection Practices Act (FDCPA) to small businesses with loans or obligations that…

Source-site The U.S. Court of Appeals for the Eighth Circuit recently reversed a trial court’s judgment in favor of a consumer for claims of alleged violation of the federal Fair Debt Collection Practices Act, finding that the consumer lacked Article…

Source-site If you’re just making the minimum payments on your credit cards, it may be worthwhile to consider one of these debt repayment strategies. (iStock) Americans are racking up credit card debt at a record-setting pace, according to the Federal Reserve…

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…