On June 29, 2023, the Consumer Financial Protection Bureau issued its annual fair lending report to Congress, confirming that although there was relatively little public fair lending enforcement in 2022, the CFPB and other financial regulatory agencies are engaged in significant nonpublic oversight, examination, and enforcement activities, in addition to ongoing rulemaking initiatives.
More cars are finally available and prices are leveling off, but buyers now face borrowing challenges that could keep them from getting a new ride. The Federal Reserve said the rejection rate for auto loans in June rose to 14.2% from 9.1% in February, the last time the survey was taken
The Federal Reserve’s top watchdog warned Tuesday artificial intelligence and machine learning could bolster bias in lending practices.
(a) The commissioner shall develop and maintain a document that includes the contact information for nonprofit organizations domiciled in Minnesota that provide credit counseling services to debtors. Credit counseling services include but are not limited to (1) helping debtors understand their rights and responsibilities, and (2) working with debtors, creditors, and collection agencies to satisfy debts. Contact information for organizations that provide credit counseling services in languages other than English to individuals whose primary language is other than English must be included.
The Federal Trade Commission and more than 100 federal and state law enforcement partners nationwide, including the attorneys general from all 50 states and the District of Columbia, announced a new crackdown on illegal telemarketing calls involving more than 180 actions targeting operations responsible for billions of calls to U.S. consumers.
.jpg)
.jpg)