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SANTA MONICA, Calif., Oct. 3, 2022 /PRNewswire/ -- Consumers are digging deeper into their pockets to finance new vehicles, according to the car shopping experts at Edmunds. New data from Edmunds reveals:

The Eleventh Circuit has held again that certain mortgage servicing communications required under the Truth in Lending Act (TILA) and sent to a borrower also can be subject to the Fair Debt Collection Practices Act (FDCPA). Lamirand v. Fay Servicing, LLC, 38 F.4th 976 (11th Cir. 2022). The court vacated an order dismissing the complaint filed by borrowers who received monthly mortgage statements containing payment terms that contradicted the terms of a prior settlement.

The FTC’s consumer protection enforcement is evolving to include small businesses, explain Mayer Brown attorneys Christa Bieker and Christopher Leach. The commission is going after a number of business-to-business areas, including the gig economy, small business lending, and payment processors, and is looking to expand its B2B coverage to more areas.

NEW YORK – New York Attorney General Letitia James today delivered $2 million to Erie County to bolster consumer protection programs in Western New York. 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.

Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) is taking action against Choice Money Transfer (Choice Money) for multiple violations of the Remittance Transfer Rule and the Electronic Fund Transfer Act (EFTA). The CFPB found the company did not accurately disclose important prepayment information to remittance senders, such as money transfer fees, current exchange rates and the date the recipient would receive the funds. The company also had deficient recordkeeping practices that made it difficult for consumers to dispute erroneous transactions and receive a refund of certain fees. The CFPB is ordering Choice Money to pay a $950,000 penalty that will be deposited into the CFPB’s victims relief fund.