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The State AG Report - 4.6.2023

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Republican AGs Oppose Department of Energy’s Proposed Gas...more

CFPB to Require Reporting of Small Business Lending Information

The CFPB finalized a rule requiring collection and reporting of data regarding credit applications for small businesses, including women-owned and minority-owned businesses, by lenders making more than 100 covered small...more

The State AG Report – 3.30.2023

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: ·Multistate AG Coalition Urges EPA Action to Protect...more

Proposed CFPB Order Requires Debt Collector to Pay $24 Million

The CFPB filed a proposed order against Portfolio Recovery Associates, LLC (PRA), one of the largest debt collectors in the nation, accusing the company of illegal debt collection practices in violation of a 2015 CFPB order,...more

The State AG Report – 3.23.2023

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Kia and Hyundai Urged by Bipartisan Coalition of AGs to...more

CFPB Shines a Spotlight on Unlawful Collection Practices for Discharged Student Loans

The CFPB issued a Compliance Bulletin and Policy Guidance warning loan servicers that continuing to seek repayment of certain student loans after bankruptcy discharge is an unfair, deceptive, or abusive act or practice in...more

The State AG Report – 3.16.2023

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AG James Sues Cryptocurrency Platform KuCoin, Alleging...more

FTC Opposes Merger of Nation’s Two Largest Mortgage Loan Origination Systems Providers

The FTC issued a complaint against Intercontinental Exchange, Inc. and Black Knight, Inc., alleging that the proposed merger of the nation’s two largest providers of home mortgage loan origination systems (LOS) would violate...more

CFPB Shines a Spotlight on Junk Fees in Bank Deposits, Lending Markets

The CFPB issued a special edition of its Supervisory Highlights focusing on illegal, unnecessary charges by banks and other financial companies sometimes referred to as “junk fees.”...more

The State AG Report – 3.9.2023

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: AGs Join U.S. DOJ in Objecting to JetBlue’s Acquisition of...more

CFPB and NLRB Agree to Share Information to Prevent Employer Financial Abuses

The CFPB and the National Labor Relations Board have entered a Memorandum of Understanding (MOU) in order to more effectively address areas of concern to both agencies, including employer surveillance and employer-driven...more

The State AG Report – 3.2.2023

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Kansas AG Kobach Files Lawsuit Alleging Energy Market...more

Constitutionality of CFPB Funding Mechanism to Be Reviewed by Supreme Court

The Supreme Court announced that it will resolve a circuit split over the constitutionality of the CFPB’s funding mechanism. The case is CFPB et al. v. Community Financial Services Association of America, Limited et al....more

CFPB Shuts Down Loan Scams Targeting Military Families

The CFPB is fighting back against what it alleges to be unlawful predatory lending practices targeting military families in violation of the Military Lending Act (MLA)....more

The State AG Report – 2.2.2023

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AG Campbell Settles with Massachusetts Auto Dealer over...more

CFPB Proposes Updates to Credit Card Regulations that Limit Excessive Late Fees for Consumers

The CFPB announced a proposed rule that would amend existing regulations regarding credit card late fees to better ensure that the Credit Card Accountability Responsibility and Disclosure Act of 2009’s (CARD Act) goal of...more

The State AG Report – 1.19.2023

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •FTC Finalizes Consent Order with Drizly Following Security...more

CFPB Proposes Registry of Terms and Conditions in Consumer Financial Form Contracts

The CFPB has proposed a rule that aims to protect consumers from fine print in non-negotiable contracts with nonbanks that provide consumer financial services. The proposed rule would require nonbanks that are subject to...more

CFPB and AG James Sue Auto Lender for Allegedly Targeting Consumers Likely to Default

New York AG Letitia James and the CFPB sued Credit Acceptance Corporation (CAC) for allegedly violating New York usury limits and consumer and investor protection laws, as well as the Consumer Financial Protection Act, by...more

Servicio UniTeller Must Refund Consumers, Pay Fines for Failure to Follow Remittance Rules

The CFPB issued an order against Servicio UniTeller, Inc., an international remittance company that helps consumers send money to their families overseas, for violations of the Electronic Fund Transfer Act (EFTA) and the...more

The State AG Report – 12.8.2022

Here are this week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AG James Inks Deal with Home Healthcare...more

CFPB Secures $19 Million in Repayment from Loan Doctor for Allegedly Masquerading as Commercial Bank

The CFPB announced a proposed settlement with My Loan Doctor, LLC and its founder (together, “Loan Doctor”) over allegations that the company advertised a high-yield savings product but instead invested consumers’ funds in...more

CFPB Publishes Complaint Bulletin Highlighting Rise in Crypto-Asset Complaints

The CFPB published a complaint bulletin analyzing consumer complaints it recently received related to crypto-assets. It highlights predominant consumer issues including fraud, theft, hacks, scams, transaction issues, customer...more

Bipartisan AG Coalition Supports CFPB in Effort to Hold Student Loan Trusts Liable for Unlawful Debt Collection Practices

A bipartisan coalition of 23 AGs filed an amicus brief in the U.S. Court of Appeals for the Third Circuit arguing that student loan trusts are “covered persons” under the Consumer Financial Protection Act (CFPA)....more

CFPB Announces Rulemaking for Personal Financial Data Rights

The CFPB released an outline of proposals and alternatives the Bureau is considering for a rulemaking that, according to a statement from CFPB Director Rohit Chopra, are aimed to boost competition in the financial services...more

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