On April 26, 2023, the CFPB issued an advisory opinion, which reiterated that the FDCPA and Regulation F prohibit certain debt collectors from suing to collect on debt or threatening to foreclose on homes with mortgages past the statute of limitations, or “time-barred” debt. Such guidance is a result of actions by certain debt collectors to foreclose on silent second mortgages, referred to as “zombie mortgages,” that consumers thought had been satisfied and that are likely not enforceable in court.
IRVINE, Calif., May 4, 2023 /PRNewswire/ -- U.S. consumers received just over 4.5 billion robocalls in April, back in the range of 4.2 billion to 4.7 billion calls recorded per month from August through February. The April volume marked a welcome 9% decrease from March's volume.
The Federal Trade Commission has stopped a pair of student loan debt relief schemes that it says bilked students out of approximately $12 million by using deceptive claims about repayment programs and loan forgiveness that did not exist. The agency alsosays the companies falsely claimed to be or be affiliated with the Department of Education and told students that the illegal payments the companies collected would count towards their loans.
Unrestrained by ethics or law, cybercriminals are racing to use AI to find innovative new hacks, says Recorded Future CEO Christopher Ahlberg.
The U.S. Small Business Administration has long been concerned about small businesses from underserved markets struggling to obtain SBA loans. On May 11 and 12, the SBA is expected to enact a series of changes to the SBA programs that will expand which lenders can get licensed for SBA programs,
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