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February

9
2024
Trends

Bankcard Balances Surpass $1 Trillion as Millennials Increasingly Turn to Cards

Findings from the newly released Q4 2023 Quarterly Credit Industry Insights Report (CIIR) from TransUnion (NYSE: TRU) reveal that credit card debt is at a historical high, driven in part by Millennials further building on their credit portfolios. This comes at a time when an anticipated reduction in interest rates over the course of the coming year may open up new avenues to more affordable credit.

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February

9
2024
Industry News

FCC MAKES AI-GENERATED VOICES IN ROBOCALLS ILLEGAL

WASHINGTON, February 8, 2024—Today the Federal Communications Commission announced the unanimous adoption of a Declaratory Ruling that recognizes calls made with AI-generated voices are “artificial” under the Telephone Consumer Protection Act (TCPA). The ruling, which takes effect immediately, makes voice cloning technology used in common robocall scams targeting consumers illegal.

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February

8
2024
Industry News

BROWN INTRODUCES NEW BILL TO PREVENT VETERANS FROM LOSING THEIR HOMES

WASHINGTON, D.C. – Today, U.S. Senator Sherrod Brown (D-OH), Chairman of the Senate Banking, Housing and Urban Affairs Committee, hosted a news conference call with Larry Moore, Executive Director of the Summit County Veterans Service Commission, and Veterans of Foreign Wars Department of Ohio State Legislative Chairman, to discuss new legislation to prevent veterans and servicemembers using Department of Veterans Affairs (VA) home loans from losing their homes.

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February

8
2024
Industry News

Empeople Credit Union to acquire Wisconsin bank

Buying TSB Bank would deepen Empeople’s Wisconsin footprint with three added branches and $182 million in assets. The deal is set to close in the fourth quarter for an undisclosed sum.

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February

8
2024
Industry News

Nevada Federal Court Declines to Decide at Summary Judgment Stage Whether Pre-Dispute Investigation Was Sufficient to Satisfy FCRA

A federal district court judge in Nevada recently denied competing motions for summary judgment in a Fair Credit Reporting Act (FCRA) furnisher investigation case, demonstrating the challenges FCRA litigants often face in convincing courts to decide cases on matters of law.

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