Last summer we wrote about the notable questions of the applicability of Arizona Proposition 209, or the Predatory Debt Collection Act (the Act), due to the Act’s savings clause. On April 30, 2024, in a blow to the debt collection industry, the Court of Appeals affirmed a trial court’s ruling that the Act was in fact constitutional despite a challenge.
The Consumer Financial Protection Bureau (CFPB) has filed a complaint against the National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency (PHEAA), alleging that they ignored student loan borrowers seeking payment relief.
Consumer trust in the nation’s largest retail banks has declined significantly during the past two years due to unexpected fees, poor customer service, and bad press, according to the J.D. Power 2024 U.S. Retail Banking Satisfaction Study.
About 800,000 people will begin receiving notices today that they are eligible for refunds stemming from the Federal Trade Commission’s 2023 settlement with BetterHelp related to allegations that the online therapy firm used and shared consumers’ health data, including sensitive information about their mental health, with third parties for advertising.
Financial trade organizations have their sights trained on several pressing regulatory issues that were not as widely publicized as others but are still critical to their operations. In this roundup, we examine what some of the largest associations representing banks and credit unions have to say about potential rulemaking activities and pending legislative matters that could affect their members’ businesses, detailed below:
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