PHOENIX - The state Court of Appeals has rebuffed efforts by lenders, debt collectors and attorneys to void a voter-approved law designed to protect Arizonans from creditors.
A federal district court recently addressed a complex issue involving New Jersey’s Fair Credit Reporting Act and its implications for national credit reporting agencies (CRAs). The law, amended in 2019, mandated that CRAs provide credit file disclosures in English, Spanish, and at least 10 other languages upon consumer request. However, this requirement faced legal challenge from the Consumer Data Industry Association (CDIA), representing major CRAs like Equifax, Experian, and TransUnion.
Earlier this week, the Consumer Financial Protection Bureau (CFPB or Bureau) released its second report detailing changes in the credit reporting of medical debts made by the three national consumer reporting agencies (CRAs) to reduce the number of medical bills on credit reports.
The Consumer Financial Protection Bureau continues to expand its presence into different businesses, including for-profit colleges. On April 17, 2024, the CFPB issued a consent order against a for-profit college for computer programming.
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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