The Federal Trade Commission is taking action against online cash advance app Dave for allegedly using misleading marketing to deceive consumers about the amount of its cash advances, charging consumers undisclosed fees, and charging so-called “tips” to consumers without their consent.
Card disputes have long been viewed as a necessary evil in retail banking and commerce — a cost center to be managed and minimized. But new research from PYMNTS Intelligence and Banyan, “How Card Disputes Are an Opportunity to Cultivate Customer Loyalty,” reveals that these friction points actually represent critical moments that can either cement or destroy customer loyalty.
If anyone understands scale, it’s auto financiers. If you are one, you may know that worldwide, an estimated 92.4 million vehicles were sold in 2023. About 80% of new US vehicles are financed.
The Consumer Financial Protection Bureau’s finalized rule on data sharing has its share of supporters and detractors. Those in favor of the new mandates — and as described by the CFPB itself — say the rule promotes competition among incumbent banks, levels the playing field between banking behemoths and smaller players, and gives consumers control of their own banking data.
Loan servicers and their counsel are often sued by consumers during contested mortgage foreclosure proceedings. The United States Supreme Court’s opinions in Spokeo, Inc. v. Robins[1] and TransUnion v. Ramirez[2] continue to be an important precedent in defending consumer claims.
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