In a recent decision, the U.S. Court of Appeals for the Second Circuit clarified the expectations for furnishers when investigating consumer disputes under the Fair Credit Reporting Act (FCRA). In Suluki v. Credit One Bank, No. 23-721 (2d Cir. May 28, 2025), the Second Circuit emphasized that the FCRA requires furnishers to conduct reasonable, not perfect, investigations into disputed accounts. The opinion also cements the fact that summary judgment is possible — and appropriate — when a furnisher conducts a reasonable investigation of a credit dispute.
The Consumer Financial Protection Bureau (CFPB) is providing long-delayed restitution to victims of predatory tech sales program Prehired, LLC (Prehired) after California and several other states pressed for answers in May.
The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in March 2025.
A new Maryland law deems certain earned wage access (EWA) services to be loans. It then subjects those EWA services to the Maryland Consumer Loan Law and other consumer credit provisions, restricts the acceptance of tips by certain lenders, requires licensing or registration of certain entities offering EWA services, regulates EWA service agreements, and limits the costs and fees associated with obtaining EWA services. The law is effective October 1, 2025.
It’s Monday, June 2 and at this writing the ultimate fate of Rule 1033 — the so-called “open banking” rule set in motion last year by the Consumer Financial Protection Bureau (CFPB) — remains in limbo.
Kentucky remains ground zero for what happens. But the timeline could stretch out for a few more months.
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