On February 9, 2024, the Commissioner of the California Department of Financial Protection and Innovation (“DFPI” or “Department”) announced a proposed rulemaking limited to certain requirements related to reporting and assessments under the Debt Collection Licensing Act (“DCLA”).
Michael Hsu, acting comptroller of the currency at the Office of the Comptroller of the Currency (OCC), recently voiced support for a new proposal by Federal Deposit Insurance Corp. (FDIC) to apply additional scrutiny when reviewing bank mergers that will result in combined assets that exceed $100 billion.
On March 20, 2024, the court forcefully denied the motion for expedited consideration of plaintiff’s preliminary injunction motion in the lawsuit challenging the Consumer Financial Bureau’s (“CFPB”) final credit card late fee rule.
Unpaid principal, late payment interest and collection fees due under a settlement agreement for willful and malicious injuries caused by one party’s assault of the other were not dischargeable in the debtor’s bankruptcy, the 4th U.S. Circuit Court of Appeals has held.
On Mar. 8, 2024, the Florida Senate passed (35 YEAS / 3 NAYS) Florida House Bill No. 989 (HB 989 or the Bill), potentially amending section 655.0323, Florida Statutes, Titled, “Unsafe and unsound practices,” which was created by 2023 Florida House Bill No. 3 (HB 3).[1] HB 989, if signed into law, would provide customers who suspect that a financial institution acted in violation of an “[u]nsafe and unsound practice” standard established in section 655.0323 (2), Florida Statutes, with a right to submit a complaint to the OFR, which the OFR would then be required to investigate.
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