Consumer Financial Protection Bureau Director Rohit Chopra on Tuesday defended the agency’s proposal to lower credit card late fees against criticism from Republicans at a Senate Banking hearing.
Consumers now have more options for getting loans, making deposits and transacting across digital channels. And they also have higher expectations based on the type of digital experiences they receive from their preferred brands, including travel, fitness, payment and social media.
New branch licensing requirements take effect in Maryland July 1, plus several more states enact data privacy laws, bringing the total to 10.
The CFPB announced at the end of last week that it had entered into a consent order with Phoenix Financial Services, LLC (Phoenix), a third-party debt collector that collects primarily past-due medical debts and furnishes information to consumer reporting agencies (CRAs), to settle alleged violations by Phoenix of the Fair Credit Reporting Act and its implementing Regulation V, the Fair Debt Collection Practices Act, and the Consumer Financial Protection Act.
On June 8, 2023, the Supreme Court issued a unanimous decision holding that the aggravated identity theft statute –and its mandatory minimum of two years – is not triggered merely because someone else’s identification facilitates or furthers the offense in some way.
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