(Bloomberg) -- Just when it seemed like things were getting back to normal at Rhett Ricart’s Columbus, Ohio, car dealerships — after pandemic-induced inventory shortages and runaway price inflation — a new obstacle emerged to keep buyers from closing the deal: soaring interest rates on auto loans.
On March 17, the Utah governor signed HB 20 to repeal several of the state’s collection agency statutory provisions. Specifically, the bill repeals provisions that (i) require collection agencies to register with the Division of Corporations and Commercial Code and have on file sufficient bond in the amount of $10,000 (see Sections 12-1-1 and 12-1-2);
It may have happened once or twice over the years, I’m not even sure (and who has the time to go through all of those blog posts?) but even if so, it’s exceedingly rare. February 2023 saw every category in our famous consumer complaint grid turn red, meaning all TCPA, FDCPA and FCRA lawsuits were down from the previous month, the same month in the previous year, and year-to-date. And CFPB complaints were down in all three categories as well. It’s quite a sight to see.
The Federal Reserve’s inspector general has begun a probe into Silicon Valley Bank’s collapse. A spokesperson for the Office of Inspector General (OIG) told PYMNTS Wednesday (March 29) that the office had begun an independent investigation into the failure of Silicon Valley Bank.
The CFPB has issued a determination that the Truth in Lending Act (TILA) does not preempt the commercial financing laws of New York, California, Utah, and Virginia. The determination will be effective on the date it is published in the Federal Register.
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