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April

2
2024
Industry News

Texas District Court Transfers Credit Card Late Fee Rule Lawsuit to D.C.

Last week, the lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB or Bureau) credit card late fee rule (Final Rule) was transferred from the U.S. District Court for the Northern District of Texas to the District Court for the District of Columbia (D.D.C.).

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April

2
2024
Trends

CFPB’s Equal Employment Opportunity (EEO) program status report for fiscal year (FY) 2023

The U.S. Equal Employment Opportunity Commission’s (EEOC) Management Directive 715 (MD-715) requires federal agencies to submit an annual report that evaluates whether agencies are establishing and maintaining effective programs of equal employment opportunity under Section 717 of Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. § 2000e et seq., and Section 501 of the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 791 et seq.

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April

1
2024
Compliance

Credit Card Late Fees Slashed to $8 by Consumer Financial Protection Bureau

On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule reducing late fee charges to $8.00 on consumer credit cards. This final rule applies to credit card issuers with more than 1 million open accounts.

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April

1
2024
Trends

Impersonation scams: not what they used to be

Scams that impersonate well-known businesses and government agencies are consistently among the top frauds reported to the FTC’s Consumer Sentinel Network.[1] In 2023, data from the FTC alone show more than 330,000 reports of business impersonation scams and nearly 160,000 reports of government impersonation scams.

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April

1
2024
Industry News

AG Nessel Amplifies 5 Consumer Alerts as Debt Awareness Week Ends

LANSING – Michigan Attorney General Dana Nessel is reissuing 5 of her debt-related alerts at the end of this year’s Debt Awareness Week to help educate residents on ways they can take control of their debt. She also wants to make them aware of some of the scams rolled out at this time of year and all year round by bad actors attempting to separate them from their money.

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