The Office of the Comptroller of the Currency (OCC) today published answers to frequently asked questions (FAQ) about the State Small Business Credit Initiative 2.0 (SSBCI) based on the facts and circumstances presented in the questions. These FAQs are not regulations and do not have the force and effect of law.
The numbers: Total consumer credit rose $23.7 billion in November, up from a $5.8 billion increase in the prior month, the Federal Reserve said Monday. That translates into a 5.7% annual rate, up from a revised 1.4% rise in the prior month.
The latest data from the Federal Reserve, released Monday (Jan. 8) showed that overall credit was up 5.7%, annualized. And within that headline number, revolving credit, which includes credit card debt, leapt in November at an annualized pace of 17.7%.
Each week, ACA International’s compliance team covers relevant case summaries for ACA members. Here’s a rundown of recent top FCRA, TCPA and FDCPA cases we’ve covered.
The Consumer Financial Protection Bureau has filed an amicus brief in a consumer’s appeal of a decision that a debt collection letter they received in bankruptcy did not violate the Fair Debt Collection Practices Act.
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