The Consumer Financial Protection Bureau (CFPB) today released an advisory opinion and research report on a form of home seller financing that is often referred to as contract for deed. Under contract-for-deed deals, the seller agrees to turn over a home’s deed only after the buyer completes a series of payments.
State-chartered banks and credit unions are required to report annually to the Department of Financial Protection and Innovation (DFPI) the revenue received from fees on nonsufficient funds and overdraft charges during the calendar year.
The plaintiffs challenging the CFPB payday lending rule should not be entitled to an en banc rehearing because the issues they cite already have become final and the time for rehearing has lapsed, the CFPB said last week responding to a request for such a rehearing.
On August 7, the CFPB issued a report and a consumer advisory highlighting predatory practices in solar lending. On the same day, the FTC released a blog post emphasizing similar concerns.
Following major data breaches targeting AT&T and Ticketmaster this year, another cyberattack in the news this week appears to have compromised the identities of billions of more people. National Public Data, a background check company owned by Jerico Pictures, is believed to be a victim of a cyberattack executed by cybercriminal group USDoD, Bloomberg Law reported.
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