Between April and June, a record-high 17.1% of Americans who took out a loan to buy a new vehicle were strapped with a monthly payment of $1,000 or more, according to new data from Edmunds compiling hundreds of thousands of transactions each month from dealerships across the US.
n a case defended by Hinshaw partner David Schultz, the Court of Appeals for the Seventh Circuit recently upheld the dismissal of a Fair Debt Collection Practices Act (FDCPA) lawsuit, affirming that confusion leading one to hire an attorney and pay an appearance fee does not establish Article III standing. The decision was given extensive coverage by legal and accounts receivable trade publications.
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week:
A Texas credit union and two credit union trade associations have been granted leave to intervene in the lawsuit challenging the CFPB’s final small business lending rule (Rule) that is pending in a Texas federal district court.
On behalf of its members that are publicly traded companies, ACA International has signed on to comments (PDF) led by the U.S. Chamber of Commerce on proposed amendments to audit standards used for those companies related to noncompliance with laws and regulations.
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