We can’t remember the last time consumer complaints and litigation had such a strong month across the board. Everything in January was up double digit percentages over Dec 2023: TCPA +78.6%(!), FDCPA +24.1%, FCRA +23.8%. And everything was also up double digit percentages YTD against last year: TCPA +50.4%, FDCPA +30.5%, FCRA +19.6%. CFPB complaints were similarly up +14.8% for the month and +14.3% YTD.
The Corporate Transparency Act is now in effect, requiring companies established in the U.S. to identify and report owners in a new form for the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).
NEW YORK – New York Attorney General Letitia James today announced that her office secured more than $650,000 from a debt collection law firm, Tromberg, Morris, & Poulin, LLC (TMP), and its subsidiary, Stephen Einstein & Associates, P.C. (SEA), for filing frivolous lawsuits and harming vulnerable New Yorkers.
Drivers owed $1.51 trillion on cars, motorcycles and other personal vehicles as of the third quarter (Q3) of 2023, according to Experian data, an increase of $108 billion over 2022. The increase is attributable to a combination of factors:
On February 16, 2024, the Consumer Financial Protection Bureau (CFPB) announced what it heralded as a significant update to its Supervisory Appeals Process. The first of its kind since 2015, this revision introduced a seemingly more inclusive and flexible approach to how financial entities can contest supervisory findings.
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