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Cullen and Dykman
As discussed, the FCJIA amends Section 5004 of New York Civil Practice Law and Rules and reduces the statutory post-judgment interest rate on all judgments arising out of consumer debts from 9.00% to 2.00%.
Bradley
The Consumer Financial Protection Bureau (CFPB) issued a release on May 2, 2022, announcing the release of its Supervisory Highlights outlining identified consumer protection violations during the second half of 2021.
Jenner & Block
The regulation and enforcement of financial technology (Fintech) remains in sharp focus for California's consumer finance regulator, the Department of Financial Protection and Innovation (DFPI)...
Jenner & Block
The regulation and enforcement of financial technology (Fintech) remains in sharp focus for California's consumer finance regulator, the Department of Financial Protection and Innovation (DFPI)...
Goodwin Procter LLP
On April 12, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a lawsuit in federal court against TransUnion, two of its subsidiaries...
Jenner & Block
Payday loans are small-dollar cash loans typically due in a single payment on the borrower's next payday—they are extremely short-term and generally high-interest forms of consumer credit.
Cullen and Dykman
On April 30, 2022, bill S5724.A/A.6474A, referred to as the Fair Consumer Judgment Interest Act (FCJIA) goes into effect in New York.
Sheppard Mullin Richter & Hampton
On March 31, the FTC and Illinois State Attorney General announced a settlement of charges against a large, multistate auto dealer that allegedly discriminated against black consumers...
Cozen O'Connor
The AGs noted that, absent better consumer protections, students of these schools could face significant debt with little recourse.
Cullen and Dykman
On April 6 and May 6, respectively, the new Consumer Credit Fairness Act (S.153/A.2382) goes into effect in New York.
Sheppard Mullin Richter & Hampton
On March 18, the U.S. District Court for the Southern District of Texas issued an injunction against a Texas-based credit repair company that allegedly made false promises to remove negative information...
Mayer Brown
In an extraordinary announcement yesterday, the US Consumer Financial Protection Bureau (CFPB or Bureau) unveiled a broad expansion of its supervisory procedures to include...
Holland & Knight
The "Adjustable Interest Rate (LIBOR) Act" (the Law), included as part of H.R. 2471, a larger Consolidated Appropriations Act, was signed by President Joe Biden on March 15, 2022.
Allen Matkins Leck Gamble Mallory & Natsis LLP
Last week, Opportunity Financial, LLC filed a lawsuit challenging the Department of Financial Protection & Innovation's alleged threat to take enforcement action for violating AB 539, the so-called Fair Access to Credit Act.
McGlinchey Stafford
On January 18, 2022, the FTC issued an advisory opinion to clarify that the FTC's Trade Regulation Rule Concerning Preservation of Consumers' Claims and Defenses, 16 C.F.R. § 433.2, does not preclude the recovery of attorneys' fees ...
Womble Bond Dickinson
A recent case out of the Eastern District of California addressed the split in authority on whether an inaccurate credit report alone is enough to establish a concrete injury in fact for purposes of Article III standing.
Freeman Mathis & Gary
All too often, we get recovery files months, sometimes years, after the tipping point when assets begin depleting faster than they can be preserved to maximize lender recovery.
Harris Beach
For the first time since 1981, New York will lower the interest rate on money judgments based on consumer debts from nine percent (9%)
Goodwin Procter LLP
On January 27, 2022, the Consumer Financial Protection Bureau (CFPB) published its updated annual list of consumer reporting companies for the purpose of encouraging consumers...
Sheppard Mullin Richter & Hampton
On January 27, the CFPB released a report directed to consumers about obtaining information in their consumer reports and disputing suspected inaccuracies in these reports with companies as needed.
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