U.K.-based payment processor, Paddle.com Market Limited, and its subsidiary, Paddle.com, Inc., will pay $5 million and be permanently banned from processing payments for tech-support telemarketers. This settles a Federal Trade Commission action alleging that Paddle abused the U.S. credit-card system and enabled deceptive foreign operators to access it, costing consumers millions of dollars.
The federal bank regulatory agencies today announced a request for comment on potential actions to help consumers, businesses, and financial institutions mitigate risk of payments fraud, with a particular focus on check fraud. For purposes of the request for information, payments fraud generally refers to the use of illegal means to make or receive payments for personal gain, including scams.
On June 12, the U.S. District Court for the Northern District of Illinois denied the joint motion by the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. to vacate the Stipulated Final Judgment and Order previously entered in the CFPB’s enforcement action against the mortgage lender, calling the CFPB’s attempt to refund Townstone’s civil money penalty for alleged redlining practices “breathtaking.” This decision comes after allegations by the current CFPB of misconduct related to the case under former CFPB leadership.
TCPA revocation cases are on the rise, and a closely related type of case– the internal DNC claim– is on the rise along with it.
There is a slight difference between the two types of cases, and one which we don’t talk about much on TCPAWorld.com (and that no one else talks about really.)
Millions of Americans are seeing their credit scores suffer now that the U.S. government has resumed referring missed student loan payments for debt collection.
After 90 days of non-payment, student loan servicers report delinquent, or past-due, accounts to major credit bureaus, which use the information to recalculate the borrower's score. Falling behind on loan payments therefore can affect an individual’s credit rating as severely as filing for personal bankruptcy.
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