The Biden-Harris Administration today announced it will deliver $130 million in automatic relief to 7,400 students who enrolled at Colorado-based locations of CollegeAmerica between Jan. 1, 2006, and July 1, 2020. The U.S. Department of Education (Department) found that CollegeAmerica’s parent company, the Center for Excellence in Higher Education (CEHE), made widespread misrepresentations about the salaries and employment rates of its graduates, the programs it offered, and the terms of a private loan product it offered.
The Consumer Financial Protection Bureau (CFPB) this week released the latest edition of its “Supervisory Highlights” report, in which the Bureau calls out different kinds of loan originator compensation (LO comp) for different mortgage product types, including reverse mortgages.
The Governor of Maryland recently signed House Bill 686 into law which removes the requirement for collection agencies and certain non-depository financial institutions to separately license branch locations and alters certain other licensing-related requirements, such as those addressing surety bonds and annual assessments.
On July 14, 2023, the California attorney general (AG) announced a surprising “investigative sweep” into employer compliance with the California Consumer Privacy Act of 2018 (CCPA) and its implementing regulations, sending a stark message that the focus of CCPA compliance is not limited to tech companies.
On July 26, 2023, the Consumer Financial Protection Bureau (“CFPB”) published its periodic Supervisory Highlights, summer edition. These most recent Supervisory Highlights shed light on a range of unfair, deceptive, and abusive practices across various consumer financial products.
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