Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a brief in the U.S. District Court for the Northern District of Texas in support of its motion to dissolve the preliminary injunction that has stayed the implementation of its credit card late fee rule.
On July 1, North Carolina announced a new plan to relieve past medical debt for low- and middle-income consumers and mitigate the impact of medical debt going forward. Under the proposal, hospitals that choose to implement medical debt mitigation policies established by the state will be eligible for enhanced reimbursement through North Carolina’s Medicaid state directed payment (SDP) program.
Acting Comptroller of the Currency Michael J. Hsu today discussed three key long-term trends that are reshaping banking in remarks at the Exchequer Club. Mr. Hsu’s written remarks in support of his appearance discussed the increasing number and size of large banks, the complexity of bank-nonbank relationships, and the rise in polarization. The Acting Comptroller described how the OCC is uniquely positioned to address each trend.
The Consumer Financial Protection Bureau (CFPB) today proposed an interpretive rule explaining that many paycheck advance products, sometimes marketed as “earned wage” products, are consumer loans subject to the Truth in Lending Act. The guidance will ensure that lenders understand their legal obligations to disclose the costs and fees of these credit products to workers.
Home builder Lennar Corporation is facing a new TCPA class action alleging it left prerecorded voicemails offering financing for new homes. The messages were allegedly left without the consent of the consumer and despite Plaintiff being on the national DNC list.
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