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March

20
2024
Compliance

State UDAAP Developments

The Consumer Financial Protection Bureau (CFPB) does not have a monopoly when it comes to policing abusive conduct. In 2010, when Congress passed the Consumer Financial Protection Act, it made sure that state attorneys general, state regulators, and certain banking regulators were also empowered to root out harmful corporate misconduct.

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March

20
2024
Industry News

Federal Trade Commission Warns of Scammers Pretending to be Agency Staff

Agency says scammers are using the names of real FTC employees to steal money from consumers; provides guidance on how to spot, avoid, and report scams.

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March

20
2024
Industry News

A Collector or an Astronaut?

As someone who has been a collector and collection leader since 1987, I have developed a unique perspective on the value of collectors and astronauts. I often pose this question during my training sessions with collectors to gauge their understanding of the value they bring to people’s lives. A collector who excels in their role can profoundly impact individuals and their families. This leads to the intriguing comparison: who adds more value to people, the work of a collector or that of an astronaut?

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March

19
2024
Industry News

Warren Invites MOHELA CEO to Testify Before Congress About Student Loan Servicing

Washington, D.C. Today, U.S. Senator Elizabeth Warren (D-Mass.), Chair of the U.S. Senate Committee on Banking, Housing, and Urban Affairs’ Subcommittee on Economic Policy, sent a letter to the CEO of the Higher Education Loan Authority of the State of Missouri (MOHELA), Scott Giles, inviting him to testify before Congress to explain MOHELA’s handling of student loan borrowers’ experience with return to repayment and the Public Service Loan Forgiveness (PSLF) program.

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March

19
2024
Trends

Americans increasingly upside down on auto loans as used car values fall

Used car prices are starting to edge down after soaring for years after the pandemic hit, and while the trend is a much-welcomed relief for buyers, it is also causing trouble for some consumers who purchased their vehicles at higher prices.

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