On May 16, Florida Governor Ron DeSantis signed into law CS/CS/SB 232, aimed at refining debt collection practices within the state. Among other things, the amendment to the Florida Consumer Collection Practices Act clarifies that prohibited contact between the hours of 9:00 p.m. and 8:00 a.m. in debt collection does not include email communication because such contact is less invasive than telephone calls.
Financial institutions and merchants face a persistent challenge: enabling consumers to navigate the inevitability of large, unplanned expenses without undue friction or financial strain.
From emergency car repairs and essential appliance replacements to significant impulse buys like high-end electronics, these purchases, often costing hundreds or thousands of dollars, frequently fall outside typical household budgets.
The Consumer Financial Protection Bureau (CFPB) has officially withdrawn its proposed rule titled Protecting Americans from Harmful Data Broker Practices (Regulation V). Initially published in the Federal Register on December 13, 2024, this rule aimed to clarify and implement certain provisions of the Fair Credit Reporting Act (FCRA), including definitions of “consumer report” and “consumer reporting agency,” and the circumstances under which consumer reports can be shared or accessed.
The Federal Trade Commission has filed an amended complaint in its case against the Growth Cave business opportunity and credit repair scam. The amendment adds two defendants based on information the FTC learned after the original filing.
On May 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposed rule to rescind amendments to its Procedures for Supervisory Designation Proceedings, originally adopted in 2022 and 2024. This proposal marks a significant shift in the Bureau’s approach to supervising nonbank entities. Public comments on the rescission will be accepted until June 13, 2025.
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