On Tuesday, July 11, 2023, the Consumer Financial Protection Bureau (CFPB) will host a hearing on medical billing and collections, with a focus on medical payment products, such as medical credit cards and installment loans.
On June 7, the Federal Trade Commission ("FTC" or "Commission") announced a request for public comments ("Request") regarding how it can enhance collaboration efforts with state attorneys general ("AGs") to more effectively prevent, publicize, and penalize fraudulent business practices—supporting an increasing trend in cooperative enforcement between the FTC and state AGs.
On June 16, the Nevada governor signed SB 276 (the “Act”) to revise certain provisions relating to debt collection agencies and make amendments to the state’s collection agency licensing law. While existing law requires collection agencies to be licensed, the amendments expand the type of activities that trigger collection agency licensure. Notably, the Act now requires any “debt buyer” to hold a license, which is defined as “a person who is regularly engaged in the business of purchasing claims that have been charged off for the purpose of collecting such claims, including, without limitation,
On June 23, the Florida governor signed HB 1353 (the “Act”), creating the Florida Commercial Financing Disclosure Law and imposing several requirements on commercial financing providers and brokers. The Act defines a “provider” as “a person who consummates more than five commercial financing transactions with a business located in [Florida] in any calendar year.”
The predatory payday lending market in Indiana is expected to grow, according to a report from the Indiana Community Action Poverty Institute.
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