In April 2021, the US Supreme Court issued its decision in Facebook v. Duguid narrowly construing the Telephone Consumer Protection Act’s (TCPA) “automatic telephone dialing system” definition. In so doing, the Supreme Court effectively brought an end to the flood of TCPA lawsuits alleging violations of the statute’s restrictions on calls and texts made with an autodialer.
Imagine waking up late one day, rushing outside to hop in your new Ford electric vehicle, only to find it has driven off on its own because you missed a payment. Well, this may soon be a reality, according to a new patent filed by Ford that would allow its future EVs to repossess themselves autonomously.
Mortgage rates jumped higher this week, getting even closer to 7% and crushing homebuyer activity, which hit a 28-year low. The average rate on the 30-year fixed mortgage increased to 6.65% from 6.50% the week prior, according to Freddie Mac. Rates have climbed over a half-point in February, reversing declines since mid-November.
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) has published a new report analyzing the financial profiles of Buy Now, Pay Later borrowers. While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers are more likely to be active users of other types of credit products like credit cards, personal loans, and student loans.
In January, CFPB complaints (+20.9%), FDCPA (+15.5%) and TCPA (+41.5%) were all up by significant margins, while FCRA (-2.7%) was down nominally. CFPB complaints (+12.2%) and TCPA lawsuits (+1.5%) are both up over last year January numbers, while FDCPA (-33.8%) and FCRA (-16.2%) are both down YTD.
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