Today, the CFPB released its Fair Lending Annual Report to Congress , describing our fair lending activities in enforcement and supervision; guidance and rulemaking; interagency coordination; and outreach and education for calendar year 2022.
LANSING – Michigan Attorney General Dana Nessel is alerting Michigan residents about fraudulent letters directed to workers and businesses. The letters attempt to collect an outstanding debt and are part of a scam that fraudulently identify the sender as the State of Michigan.
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.
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