WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) published a report on high-cost specialty financial products, such as medical credit cards, that are sold to patients as a way to alleviate the growing costs of medical care. Patients are typically offered these products in a medical provider’s office even when their insurance may cover the procedure or they qualify for a hospital’s reduced or no-cost financial assistance program. The report finds that these specialty products are typically more expensive for patients than other forms of payment.
(Stacker) - Early signs of a negative equity surge in the auto loans sector have begun to emerge in the first quarter of 2023. According to data from Edmunds, the average negative equity value of auto trade-ins was $5,341 in Q4 2022, up 29% from the previous year. The number of vehicle sales that involved a trade-in with negative equity also jumped by 17% over the same period.
The Federal Trade Commission will hold a virtual panel discussion on May 11, 2023 with a diverse set of experts to discuss the business practices of cloud computing providers including issues related to security, competition, and emerging technology issues associated with cloud computing.
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of April 1, 2023, through April 30, 2023. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance.
The U.S. Supreme Court has granted a petition to review a case where it could overturn or restrict the Chevron doctrine, a two-step analysis “that generally requires a federal court when reviewing federal agency action to defer to the agency’s reasonable interpretation of an ambiguous statute,” according to an article from ACA International member firm Troutman Pepper.
.jpg)
.jpg)