The Federal Reserve plays a pivotal role in influencing the economy through its monetary policy decisions, particularly in setting the federal interest rates. Changes in these rates have far-reaching implications on consumers, businesses, and financial institutions.
In today’s podcast, which repurposes a recent webinar, we examine the impact, if any, of a landmark opinion rendered by Judge Daniel Domenico of the Federal District Court for the District of Colorado in a case challenging recently enacted Colorado legislation on interstate loans made from outside Colorado to Colorado residents. We also address the effects this decision and the outcome of this litigation may have on interstate rate exportation by state-chartered banks across the country.
Continuing a nationwide trend towards increased regulation of commercial financing, Governor Newsom has signed into law a bill extending the reach of California’s Rosenthal Fair Debt Collection Practices Act (the “Act”) to covered commercial debt (“SB 1286”). The requirements would apply to any debt entered into, renewed, sold, or assigned on or after July 1, 2025.
The CFPB recently issued a blog post, highlighting debt collection impacts on surviving spouses. In the blog, the CFPB warns that debt collectors who try to collect on a spouse’s medical bills from a survivor, who is not legally liable for the bills, may violate the Fair Debt Collection Practices Act and state law.
The Consumer Financial Protection Bureau (CFPB) recently issued guidance to prevent families from being targeted by illegal medical debt collection tactics. In the United States, an estimated 100 million people owe more than $220 billion in medical debt. The bills often are confusing and filled with errors, and predatory practices inflate healthcare costs.
.jpg)
.jpg)