As discussed here, on October 19, the Fifth Circuit Court of Appeals in Community Financial Services Association of America Ltd. (CFSA) v. Consumer Financial Protection Bureau (CFPB) held that the CFPB’s funding mechanism violates the appropriations clause because the CFPB does not receive its funding from annual congressional appropriations like most executive agencies, but instead, receives funding directly from the Federal Reserve based on a request by the CFPB’s director.
Rates for well-qualified borrowers using the Credible marketplace to refinance student loans rose this week for 10-year fixed-rate loans and remained unchanged for 5-year variable-rate loans.
The lawsuit seeking to void voter-approved medical debt reforms in Proposition 209 should be rejected because it’s too vague and doesn’t sufficiently prove its claim that the new laws cause harm, said attorneys for the state and Healthcare Rising Arizona, which ran the ballot measure’s campaign.
There are a variety of ways in which accounts, or debts, are collected. However, aging technology and legacy servicing (collection) infrastructure restricts a lender’s ability to leverage automation and technology.
Republican and Democrat leaders on the Senate Committee on Banking, Housing and Urban Affairs divided their Dec. 15 hearing with Consumer Financial Protection Bureau Director Rohit Chopra between discussion supporting the bureau’s continued actions on medical debt credit reporting and changing the leadership in charge of those actions to a five-member bipartisan commission funded through congressional appropriations.
.jpg)
.jpg)