Legal News

The Federal Reserve on Wednesday raised its benchmark interest rate to the highest level in 15 years, indicating the fight against inflation is not over despite some promising signs lately. Keeping with expectations, the rate-setting Federal Open Market Committee voted…

Almost 2,000 consumers who were conned into paying debts they didn’t owe are in the process of getting their money returned to them. More than $1 million, or an average of $516 for each payment, is being returned to the…

As the economy recovers from the global pandemic, American families and businesses are experiencing higher prices as well as higher interest rates. This includes the interest rates for some credit cards. More than 175 million Americans have at least one…

U.S. consumers have demonstrated a willingness to continue to pay higher prices in the face of a sluggish economy that could be tipped into a recession, according to credit card giants American Express and Bank of America. American Express on Friday reported stronger-than-expected…

U.S. consumer spending is experiencing a “mitigation of growth” but not a slowdown, Bank of America CEO Brian Moynihan said Friday. Interest rate hikes by the Federal Reserve are starting to be felt in the housing and auto markets, and renters will…

U.S. home prices are finally falling from record highs notched earlier this year, and they are likely to see even steeper declines in coming months as the Federal Reserve ratchets up its fight against inflation. Prices are already posting the…

Sarah Collins, September 26, 2022 A third of people were just managing to make ends meet this month, according to a Bank of Ireland sentiment survey. The figure rose to 53pc for lower-income households, Bank of Ireland’s economic pulse survey…

Weiner Brodsky Kider PC, September 23, 2022 Recently, the CFPB and FTC filed an amicus brief in a Third Circuit FCRA case asserting that furnishers are required to investigate any dispute forwarded to them by a credit reporting company (i.e.,…

A.J. Dhaliwal, September 15, 2022 On September 8, the U.S. Court of Appeals for the Eleventh Circuit issued an order in Hunstein v. Preferred Collection and Management Services, Inc. dismissing the case after determining that plaintiff failed to allege a concrete harm, and…

Moorari Shah, September 15, 2022 Recently, the CFPB released a report outlining the challenges and risks inherent in the rapid evolution of the payment ecosystem, with a particular focus on emerging uses cases involving “super apps,” buy now, pay later (BNPL), and embedded payments, as…