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Interest Rates Debt Collection Consumer Financial Protection Bureau (CFPB)

Troutman Pepper Locke

Senators Sanders and Hawley Propose Legislation Capping Credit Card Interest Rates

Troutman Pepper Locke on

On February 4, Senators Bernie Sanders (I-Vt.) and Josh Hawley (R-Mo.) introduced bipartisan legislation aimed at immediately capping credit card interest rates at 10% for a period of five years. This initiative follows a...more

Davis Wright Tremaine LLP

CFPB Publishes 2023 Biennial CARD Act Report

On October 25, for the sixth time since its inception, the Consumer Financial Protection Bureau ("CFPB" or "Bureau") released its biennial report ("Report") evaluating the state of the consumer credit card market. The Credit...more

Ballard Spahr LLP

CFPB announces proposed consent order with companies alleged to have collected loans void under state law

Ballard Spahr LLP on

The CFPB announced that it has entered into a proposed consent order with Think Finance and six subsidiaries (collectively, the “Think Entities’) to settle the Bureau’s lawsuit filed in November 2017 that alleged the Think...more

Sheppard Mullin Richter & Hampton LLP

CFPB Prevails On Summary Judgment Against CashCall, Inc.

On August 31, 2016, in a ground breaking decision, the United States District Court in Los Angeles ruled that CashCall, Inc. violated the Consumer Financial Protection Act in connection with efforts to collect on certain...more

Ballard Spahr LLP

Former Colorado regulator and consumer advocate Laura Udis to join CFPB as manager for payday lending program

Ballard Spahr LLP on

We have learned that, starting Monday, Laura Udis will join the CFPB as the Payday and Small Dollar Lending Program Manager in Research, Markets and Regulations. Ms. Udis comes to the CFPB from the Consumer Federation of...more

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