The UK Financial Conduct Authority (FCA) has issued a statement alongside a press release confirming its intention to consult on a motor finance redress scheme for consumers affected by unfair commission arrangements. This...more
THE SUPREME COURT HAS REJECTED TWO OF THE THREE CLAIMS IT WAS ASKED TO DECIDE, AND UPHELD THE OTHER BASED ON ITS SPECIFIC FACTS - OVERVIEW - In a landmark decision which will be closely scrutinised by the finance...more
On November 15, the CFPB issued an order requiring an Illinois-based fintech lender to pay $15 million in fines. The order additionally prohibits the company from operating in certain lines of business and requires revision...more
The Federal Trade Commission (FTC) recently announced it sent out a second round of redress checks in a long-lasting legal battle against an alleged payday lending scheme. While this round of redress checks brings the total...more
The CFPB has entered into a consent order with Westlake Services, LLC, an indirect auto finance company, and its wholly owned subsidiary, Wilshire Consumer Credit, LLC, for alleged deceptive debt collection practices. The...more