The CFPB says it wants to scrap a Biden Administration rule that prohibits credit reporting agencies from including medical debts on credit reports, one of many Biden era rules that the Trump Administration has sought to nullify.
Inflation is changing the ways in which we eat, whether buying food at the grocery store or dining out.
The PYMNTS Intelligence Paycheck-to-Paycheck report titled “Navigating the Shifting Sands of Consumer Spending Amid Rising Prices and New Tariffs” found that, with the responses of 2,280 U.S. consumers in hand, and extrapolating the data to the larger population, more than 50 million consumers would shift their spending, and in some cases would freeze spending on certain categories outright, should price tags rise by 10% or more.
Last year, the Federal Trade Commission (FTC) filed suit in the U.S. District Court for the Northern District of Georgia, alleging Global Circulation, Inc. (GCI) and its owner, Kenneth Redon III, violated the FTC Act, Fair Debt Collection Practices Act and its associated Regulation F, § 521 of the Gramm-Leach-Bliley Act, and the FTC’s Trade Regulation Rule on Impersonation of Government and Businesses. On May 1, the FTC announced the parties entered into a stipulated permanent injunction and money order, prohibiting GCI and Redon from any further debt collection activities.
Today, Commissioner KC Mohseni of the Department of Financial Protection and Innovation (DFPI) and leaders from eleven states are pressing the federal Consumer Financial Protection Bureau (CFPB) to issue long-delayed restitution to victims of a predatory tech sales program.
The Consumer Financial Protection Bureau is announcing today that it will not prioritize enforcement actions taken on the basis of the Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans, 89 Fed. Reg. 47,068 (May 31, 2024) (“Buy Now, Pay Later”). The Bureau will instead keep its enforcement and supervision resources focused on pressing threats to consumers, particularly servicemen and veterans.
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