OAKLAND — California Attorney General Rob Bonta today, with Senator Bill Dodd and Senator Nancy Skinner, introduced Senate Bill 478 (SB 478), landmark legislation seeking to prohibit in California the practice of hiding mandatory fees. The use of hidden fees and junk fees is a deceptive advertising practice in which a seller uses an artificially low headline price to attract a customer before revealing additional charges later in the buying process. Sellers often hide these additional, mandatory charges by using small type, vague descriptions or misleading wording such as “service fees,” by bundling them with legitimate charges like taxes, or revealing them clearly only after the consumer has invested time in the transaction.
The incident took place on December 1, 2022, but was discovered only a week later, and impacted the Regal Medical Group and affiliates Lakeside Medical Organization, Affiliated Doctors of Orange County and Greater Covina Medical Group.
This report provides an overview of the trends in third-party debt collections tradelines on consumer credit reports from 2018 to 2022. The report uses data from the Bureau’s Consumer Credit Panel (CCP), a nationally representative sample of de-identified credit records maintained by one of the three nationwide credit reporting companies.
According to a report from the Institute on Assets and Social Policy, 20 years after starting college, the median Black student borrower still owes 95% of their original loan. As a result, debt-financed higher education is sharpening the racial wealth gap rather than reducing it. The median Black household has just 15% of the wealth the median white household has, but for households with student debt, comparative Black wealth shrinks to only 5%.
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released a report examining trends in credit reporting of debt in collections from 2018 to 2022. The report found the total number of collections tradelines on credit reports declined by 33%, from 261 million tradelines in 2018 to 175 million tradelines in 2022.
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