The Office of the Comptroller of the Currency (OCC) released economic and financial market scenarios for use in the upcoming stress tests for covered institutions.
The Justice Department and State of Texas recently entered into a settlement agreement with Colony Ridge Development, LLC and related entities (Colony Ridge) to settle allegations that Colony Ridge violated certain federal and state laws. The Justice Department had alleged violations of the Equal Credit Opportunity Act (ECOA) and Fair Housing Act (FHA). Texas had alleged violations of the Texas Deceptive Trade Practices Act (DTPA), Consumer Financial Protection Act (CFPA) and Interstate Land Sales Full Disclosure Act (ILSA). In entering into the settlement agreement, Colony Ridge expressly denied any wrongdoing alleged by, or that could have been alleged by, the Justice Department or the State of Texas.
A recent federal court decision from California in In re Apple Data Privacy Litigation reflects an evolving judicial approach to how courts will define the boundaries of privacy in a platform-driven world. The January 20 decision – which was a mixed bag of wins and losses for businesses for companies operating online – exposes a growing tension regarding what users can reasonably expect when they interact with digital services and what businesses can reasonably rely on when designing their data practices. Here’s a review of the decision and some practical takeaways you should consider for your business.
In the current collections landscape, "digital transformation" is often applied unevenly. While internal portals and outbound SMS campaigns have become standard, the interface between lenders and third-party debt settlement advisors remains largely manual. This fragmentation creates a "shadow cost" of resolution—operational overhead that erodes the net recovery of every settled account.
Senator Elizabeth Warren has sent a sharply worded letter to CFPB Acting Director Russell Vought that crystallizes an unusual moment in consumer financial services regulation: a populist-sounding call from President Trump to cap credit card interest rates at 10 percent, paired with what Warren characterizes as a deliberate dismantling of the very agency that would be central to implementing any such reform.
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