On February 9, the California Department of Financial Protection and Innovation (DFPI) published a proposed rule to adopt new regulations under the Debt Collection Licensing Act (DCLA). Under the DCLA, a debt collector licensee is required to pay the DFPI Commissioner its “pro rata share of all costs and expenses incurred in the administration” of the DCLA, which is calculated in part based on the licensee’s “net proceeds generated by California debtor accounts,” but the term “net proceeds” was not defined in the statute.
LANSING – Michigan Attorney General Dana Nessel wants consumers to be on the lookout for scam emails that may contain her name. It has been recently reported to the Department of Attorney General’s Consumer Protection Team that bad actors are sending emails purporting to be from Nessel. The email claims to offer help with scammers attempting to steal the recipient’s tax refund. However, the emails themselves are a scam.
The Federal Trade Commission is seeking public comment on a supplemental notice of proposed rulemaking that would prohibit the impersonation of individuals. The proposed rule changes would extend protections of the new rule on government and business impersonation that is being finalized by the Commission today.
In 2022, the Federal Reserve started raising interest rates to cool inflation. That drove the cost of borrowing up across the board, from personal loans to home equity loans to auto loans.
We have written in the past about exceptions to the general rule regarding a debtor’s ability to discharge debt in bankruptcy and achieve a “fresh start.” In a recent decision of interest, the Court of Appeals for the Fourth Circuit held that a debtor may not utilize bankruptcy to discharge an obligation to pay unpaid principal under a settlement agreement requiring him to pay damages for a willful and malicious injury.
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