On October 22, 2022, the Federal Trade Commission announced it is seeking public comments on whether it should explore a rule regarding the harms caused by junk fees and the unfair or deceptive tactics companies use to impose them.
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released a new Making Ends Meet report covering the financial health of American households. Since 2019, the annual Making Ends Meet consumer surveys showed improvement in financial health during the first few years of the COVID-19 pandemic, due in part to a tight labor market, reductions in consumer spending, and access to pandemic-related relief programs.
Republican and Democrat state attorneys general have filed briefs to the U.S. Supreme Court with their input on a 5th Circuit Court of Appeals’ decision declaring the Consumer Financial Protection Bureau’s funding structure unconstitutional.
SACRAMENTO – The Department of Financial Protection and Innovation today announced that Commissioner Clothilde V. Hewlett has moved to revoke BlockFi Lending LLC’s (BlockFi) California Financing Law (CFL) license.
Consumers are feeling the impact of high inflation. Prices in October were 7.7% higher than the year before, and though prices have dropped somewhat in recent months, inflation remains well above the Federal Reserve’s desired level of 2%. Worryingly, 77% of fund managers believe a recession is likely next year, according to a Bank of America survey.
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