Last month, New York Attorney General Letitia James sued Early Warning Services, LLC (EWS), the company that operates the Zelle Network, for allegedly failing to protect its users from fraud. The complaint, much of which was filed under seal, claims that EWS harmed consumers by creating “a payment network that was highly susceptible to fraudulent activity, that lacked the basic network safeguards, and that exposed millions of consumers to widespread fraud.” Although filed under different legal authority, the suit is thematically similar to the federal complaint that the CFPB filed last year and later dismissed with prejudice in March 2025.
Quick analysis: Everything Down in August; Most Still Up YTD
Similar to April of this year, we are seeing a month where everything dipped for the month, but not enough to change the trajectory of the upward year to date trends.
TCPA (-15%) took the biggest hit, followed by FDCPA (-3.9%) and FCRA (-2%), while CFPB complaints dropped a tiny -.8%.
YTD, however, only FDCPA is still down (-5.7%) while TCPA is still up a lot (-52.1%) followed by FCRA (+27.6%). CFPB complaints are still up over 100% from this time last year, 102.8% to be exact.
When I started my first job as a collector, “mobile” meant the phone had a cord long enough to stretch into another room. Cell phones weren’t even a thing yet. If you needed to reach a delinquent customer, you had exactly two options: pick up the phone or drop a letter in the mail.
A bipartisan pair of state lawmakers has proposed a plan to rein in the ways health care providers in Ohio can collect on medical debts.
Their legislation, under committee review in the Ohio House, would prohibit providers from garnishing debtors’ wages. Garnishment is a legal term that refers to the process of judges allowing the providers to seize up to 25% of their former patients’ wages before they go out as paychecks.
In this crossover episode of The Consumer Finance Podcast and Regulatory Oversight, Chris Willis is joined by Joseph DeFazio, Bill Foley, and Michael Yaghi to discuss the implications of New York's FAIR Act, a significant amendment to the state's UDAAP statute. The FAIR Act aims to broaden consumer protection by lowering the threshold for legal action against unfair and abusive business practices.
.jpg)
.jpg)