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November

15
2022
Industry News

FTC Returns More Than $9.8 Million To Consumers Harmed by Napleton Auto’s Junk Fees and Discriminatory Practices

The Federal Trade Commission is sending payments totaling more than $9.8 million to consumers who were harmed by Illinois-based Napleton Automotive Group’s junk fees and discriminatory practices.

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November

15
2022
Industry News

FCC authorizes telecom companies to cut off likely source of student loan scam robocall campaigns

WASHINGTON, November 10, 2022—The FCC’s Robocall Response Team announced new actions to cut off a flood of scam robocalls related to student loan debts. The FCC’s Enforcement Bureau believes upwards of 40 percent of student loan debt robocalls generated last month originated from one voice service provider: Urth Access, LLC. The Bureau told the service provider that it must cease carrying this illegal traffic and ordered all voice service providers to look for this traffic. Also, FCC Chairwoman Jessica Rosenworcel confirmed that the Bureau has opened a formal case and is investigating these calls for possible further legal action.

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November

14
2022
Industry News

Supreme Court to Address Preemptive Lawsuits Against Financial Regulators

On Monday, November 7, the Supreme Court heard arguments in two cases addressing when targets of enforcement actions can preempt agencies in federal court. If the justices’ questions are any indication, the Court appears prepared to recognize an expansive right to challenge the legality of a potential enforcement action.

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November

14
2022
Industry News

loanDepot forms council to "dispel myths" about VA loans

loanDepot has formed a VA council to help military veterans and active-duty personnel overcome common misconceptions about achieving homeownership.

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November

14
2022
Industry News

New York Department of Financial Services Rule Will Require Banks to Collect Demographic Data with Commercial Credit Applications

The NYDFS issued a proposed rule that will require New York banks to collect demographic and financial data with business credit applications.

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