The mortgage loan originator rules, part of the Truth in Lending Act’s Regulation Z, protect homebuyers from anti-competitive practices, like double-dealing or steering activities, that lead consumers into more expensive loans.
WASHINGTON – Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara (DINB). At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank.
WalletHub’s Credit Card Debt Study found that consumers racked up a record $180.3 billion in new debt during 2022, and WalletHub’s Fed Rate Hike Report revealed that the interest rate increase expected on March 22 will cost people with credit card debt an extra $3.4 billion over the next 12 months.
On February 27, Wyoming Governor Mark Gordon signed into law House Bill 284, which requires debt buyers be licensed as “collection agencies” starting July 1, 2023.
Consumer complaints about credit reporting companies nearly doubled from 2021 to 2022, according to an analysis released Thursday by the MASSPIRG Education Fund.
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