As millions of Americans saddled with student debt await further word from the Biden administration on how exactly its debt cancellation program will work, federal and state law enforcement officials are worried about scams.
As pandemic-related government relief programs and forbearances fall farther behind in the rearview mirror, a new study from TransUnion (NYSE:TRU) found that many consumers are reverting to traditional payment patterns. The information is particularly important in today’s consumer credit market as pressures from high inflation and rising interest rates may further impact the delinquency landscape.
New York Attorney General Letitia James is delivering $2 million to Erie County to “bolster consumer protection programs in Western New York.” Her team said, “The funding comes from a previous action that Attorney General James took to shut down a predatory debt collection operation that preyed on consumers nationwide. The debt collection operation, comprised of several companies including JPL Recovery Solutions, falsely threatened consumers with harsh consequences if they did not pay, and inflated the true amount of debts owed.”
September’s auto sales performance has come with both good and bad news for the automotive industry. The good news is that September performed better than August and the previous year’s sales.
On October 4, 2022, the Consumer Financial Protection Bureau (CFPB) entered into a consent order with Choice Money, a New York nonbank remittance transfer provider involving violations of the Remittance Transfer Rule (“Remittance Rule”), Subpart B of Regulation E, 12 C.F.R. §§ 1005.30 to 1005.36, and the Consumer Financial Protection Act.
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