Earlier this month the New York Federal Reserve Bank reported the collective debt of U.S. credit card holders had surpassed the $1 trillion mark for the first time ever after rising nearly 5% in the second quarter of the year.
Aug 31 (Reuters) - A California judge is poised to decide if an online lender offering small loans at over 150% interest violates state law, which would deal a blow to finance companies that critics argue have skirted rate caps to profit from cash-strapped borrowers.
The California Department of Financial Protection and Innovation (DFPI) finalized regulations that prohibit unfair, deceptive, and abusive acts and practices (UDAAP) in the offering or provision of commercial financing or other financial products or services to small businesses and other entities.
After filing for bankruptcy and getting your debts discharged, you are probably heaving a sigh of relief. You are looking forward to a fresh start, having put your debt behind you.
On August 21, the U.S. Supreme Court denied a request by West Virginia Attorney General (AG) Patrick Morrisey and 26 other state AGs to participate in oral arguments in Consumer Financial Protection Bureau (CFPB) et al. v. Community Financial Services Association of America et al., which concerns whether the CFPB’s statutory authorization violates the Constitution’s Appropriations Clause.
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