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August

22
2023
Industry News

Illinois Amends Consumer Fraud and Deceptive Business Practices Act

Illinois recently amended its Consumer Fraud and Deceptive Business Practices Act (the Act) to address marketing materials sent to a consumer by a mortgage company not associated with the consumer’s mortgage company (referred to here as, “unrelated marketing materials”).

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August

22
2023
Trends

Medical debt is squeezing millions of middle-class Americans, report says

Middle-class Americans are the most likely to be saddled with medical debt, with nearly 1 in 4 — or roughly 17 million people — having unpaid medical bills, according to a report shared first with Axios from center-left think tank Third Way.

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August

22
2023
Industry News

Permanent Injunction and $650,000 Civil Penalty Imposed on Experian

The Justice Department, together with the Federal Trade Commission (FTC), today announced that ConsumerInfo.com, Inc. dba Experian Consumer Services (Experian), has agreed to a permanent injunction and a $650,000 civil penalty as part of a settlement to resolve alleged violations of the Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003 (CAN-SPAM Act), the Controlling the Assault of Non-Solicited Pornography and Marketing Rule (CAN-SPAM Rule), and the Federal Trade Commission Act.

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August

22
2023
Industry News

CFPB Sues Installment Lending Conglomerate for Illegally Churning Loans to Harvest Hundreds of Millions in Loan Costs and Fees

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) sued Heights Finance Holding Company, formerly known as Southern Management Corporation, a high-cost installment lender, as well as several of Heights’s subsidiaries (collectively, Southern), for illegal loan-churning practices that harvested hundreds of millions in loan costs and fees.

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August

22
2023
Industry News

WeStreet Credit Union Expands into New Community

TULSA, Okla.--(BUSINESS WIRE)--After the recent successful purchase of two Oklahoma Fidelity Bank branches, WeStreet Credit Union is excited to announce the opening of two new branches in Pryor, Oklahoma. The new branches will open to existing WeStreet members and new members on August 21, 2023, and will be the credit union’s first locations in Pryor.

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