The Consumer Financial Protection Bureau (CFPB) brought an action against 18 defendants under the Consumer Financial Protection Act (CFPA) and the Fair Debt Collection Practices Act (FDCPA) for engaging in or substantially assisting a fraudulent debt-collection scheme.
On June 26, Florida Governor Ron DeSantis signed the Florida Commercial Financing Disclosure Law (FCFDL). As discussed here, the FCFDL mandates that covered commercial financing companies provide consumer-like disclosures for certain commercial financing transactions.
Debt buyers are included in the definition of collection agency in the law and will be required to apply for a collection agency license, among other changes.
(CN) — OpenAI is the target of a proposed class action suit filed in federal court Wednesday, in which plaintiffs claim the ChatGPT-maker uses stolen, private information and has demonstrated a disregard for the “catastrophic risk to humanity” its products pose.
In response to the COVID-19 pandemic, the federal government enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act, allowing millions of mortgage borrowers in the United States to enter public or private forbearance programs and temporarily pause their mortgage payments.
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