Credit and Collection News

CFPB extends deadlines for input on identity theft rules

March 16, 2025

CFPB Extends Comment Periods for Two Proposed Regulation V Rules

RELATED PRACTICES & JURISDICTIONS Consumer Protection Financial Institutions Banking Administrative Regulatory All Federal PrintMailDownload/>i The CFPB is extending the comment periods for two proposed rulemakings under Regulation V, which implements the Fair Credit Reporting Act (FCRA). On March 5, the ...

March 18, 2025

Financial mentors raise concerns over debt collection

Photo: 123RF Financial mentors say people with debt are facing increasing levels of harassment and tactics from debt collectors that likely breach the Fair Trading Act. Financial hardship reached a peak in late 2024, according to data from credit reporting ...

March 16, 2025

New York To Toughen Up Laws To Make Up For Weakened CFPB

By Matthew Sellers New York is moving to strengthen consumer protections with new legislation aimed at preventing deceptive and abusive business practices. Attorney General Letitia James has introduced the FAIR Business Practices Act, which is being championed in the state legislature ...

March 19, 2025

New York Attorney General Advances New UDAP Legislation Paving The Way For Stronger State Consumer Protection In Wake Of CFPB Changes

On Thursday, March 13, 2025, New York Attorney General (“NYAG”) Letitia James advanced newly proposed legislation to better protect consumers and small businesses from unfair, deceptive, and abusive practices (“UDAP”). This step by the NYAG is an example of what ...

March 17, 2025

Credit Union of Georgia donates blankets to MUST Ministries

Submitted information and photo: Credit Union of Georgia hosted a Coat Drive to collect new and gently used coats, blankets, hats and gloves to donate to MUST Ministries. Credit Union members and the community came together to support this initiative ...

March 19, 2025

Trump Fires Democratic FTC Commissioners

President Donald Trump fired two Democratic commissioners at the Federal Trade Commission on Tuesday, both of whom now say they plan to sue to get their jobs back. The firings hit Commissioners Alvaro Bedoya and Rebecca Slaughter, who represent the ...

March 17, 2025

CFPB Workers Are Reinstated After Court Order, But Many Still Can’t Work

Terminated employees at the Consumer Financial Protection Bureau (CFPB) have been brought back to work in response to a judge’s order — sort of. Probationary employees (a class of government workers who are newer to an agency or role) received ...

March 16, 2025

Minnesota Attorney General’s Office reaches settlement with Mayo Clinic over charity care debt collection

ROCHESTER, Minn. (KTTC) – The office of Minnesota Attorney General Keith Ellison has announced his office has obtained a settlement with Mayo Clinic over charity care and debt-collection practices. According to Ellison’s office, the terms of the settlement will involve ...

March 19, 2025

Trump Helps Credit Card Companies Fight Interest Rate Caps

Although on the campaign trail Donald Trump proposed capping credit card interest rates, his administration is withdrawing support for a Colorado state law that would impose such caps. President Donald Trump speaks to the media during a guided tour of ...

March 18, 2025

Verizon & Santander Bank Partner to Bring Openbank’s Digital Banking Experience to Verizon Customers

New Verizon + Openbank Savings account offers qualified Verizon customers up to $180 per year off their bill and maximizes savings with a top-tier interest rate 10 times the national average Partnership brings together industry leaders in mobility and banking ...