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July

11
2023
Industry News

AG Platkin and the Division of Consumer Affairs Announce $502,000 Settlement with Freedom Mortgage Corp.

NEWARK Attorney General Matthew J. Platkin and the Division of Consumer Affairs today announced that a nationwide mortgage provider formerly based in New Jersey has agreed to a $502,000 settlement to resolve allegations that it violated the state’s consumer protection laws in the sale and servicing of mortgages throughout the State and beyond.

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July

11
2023
Industry News

CFSA files brief urging SCOTUS to affirm Fifth Circuit ruling that CFPB’s funding is unconstitutional

Community Financial Services Association of America (CFSA) has filed its brief with the U.S. Supreme Court in which it asks the Court to affirm the Fifth Circuit panel decision in CFSA v. CFPB.

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July

11
2023
Industry News

Judge Denies Debt Collection Law Firm’s Request for Summary Judgment in Fees Lawsuit

A South Dakota federal judge partially awarded summary judgment to Citibank against a debt collection law firm’s claims that it was owed for work the firm did for the bank.

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July

11
2023
Industry News

Prepared Remarks of Director Rohit Chopra for the CFPB Hearing on Medical Billing and Collections

Today, we are talking about an issue that impacts over 100 million Americans – medical debt. As many of you know, the practices used to bill and collect for medical services have tremendous consequences for American consumers. Medical bills are a major financial pain point for Americans, and the fear of cost can be enough to stop some families from even seeking care.

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July

11
2023
Industry News

OCC Assesses $60 Million Civil Money Penalty Against Bank of America Related to Bank’s Overdraft Program

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $60 million civil money penalty against Bank of America, N.A., for violations of law relating to its practice of assessing multiple overdraft and insufficient funds fees against customers for a single transaction.

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