Credit and Collection News

May 10, 2024

FTC Issues Final Rule Banning Most Noncompetes, But Immediate Legal Challenges Ensue

FTC Issues Final Rule Banning Most Noncompetes, but Immediate Legal Challenges Ensue | The Recorder Page Printed From: https://www.law.com/therecorder/2024/05/10/ftc-issues-final-rule-banning-most-noncompetes-but-immediate-legal-challenges-ensue/ Ryan A. Glasgow, left, and Jason P. Brown, right, of Hunton Andrews Kurth. Courtesy photo EXPERT OPINION Employers do not need ...

May 13, 2024

Consumer Delinquencies Are Piling Up As Covid Stimulus Wears Off

As the effects of the economic stimulus pumped into the economy by the federal government during the pandemic wear off, consumers are having a harder time paying their recurring debts on time. A study released Monday by Achieve, a San ...

May 9, 2024

Navy Federal Credit Union and DAV are honoring Veterans this Military Appreciation Month

Thu, 09 May 2024 18:34:49 GMT (1715279689473)Story Infinite Scroll - News3 v1.0.0 (common)56a10e3abb3a973e74c8109f39c0e8dd0d8529b8e201a25d3fc2cb16d17ece29beb4b95b8dfba983by Good Morning WashingtonThu, May 9th 2024 at 11:47 AMNavy Federal Credit Union Military Appreciation Month (7News) WASHINGTON (7NEWS) — Navy Federal Credit Union and DAV are honoring ...

May 9, 2024

CFPB Report Highlights Consumer Frustrations With Credit Card Rewards Programs

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) issued a new report finding consumers encounter numerous problems with credit card rewards programs. Consumers tell the CFPB that rewards are often devalued or denied even after program terms are met ...

May 10, 2024

Experian Launches Cashflow Attributes to Help Underserved Consumers Access Credit

Experian launched Cashflow Attributes, a tool to offer lenders more data about underserved consumers. Cashflow Attributes offers lenders visibility into more than 900 consumer attributes that reflect consumers’ cashflow and affordability. Lenders can use the insights to aid in their ...

May 7, 2024

Two Separate Lawsuits Challenge the Federal Trade Commission

Two separate lawsuits have challenged the Federal Trade Commission’s ban on non-compete provisions and agreements: Chamber Of Commerce Of The United States Of America et al. v. Federal Trade Commission et al., Case No. 6:24cv148, filed in the District Court ...

May 12, 2024

Minnesota House Passes Landmark Legislation to Improve Data Privacy

SAINT PAUL, Minn. – Today, the Minnesota House passed the Minnesota Consumer Data Privacy Act, HF 2309, as a part of the House Agriculture/Commerce/Energy Supplemental Budget. Authored by Rep. Steve Elkins (DFL - Bloomington), the legislation would grant consumers the ...

May 7, 2024

Troutman Pepper’s Financial Services Practice Continues Momentum with Addition of Bank Regulatory Partner Alexandra Steinberg Barrage

Former FDIC Executive Join Firm's Dynamic D.C. OfficeWASHINGTON, May 6, 2024 /PRNewswire/ -- Alexandra Steinberg Barrage, a former FDIC executive with over a decade of bank regulatory experience, has joined Troutman Pepper's Washington, D.C. office. Continue Reading Alexandra Steinberg Barrage, Partner, ...

May 13, 2024

85% Of Americans Feel Nickel-And-Dimed From Credit Card Processing Fees

If you feel you are being taken advantage of when you pay extra credit card processing fees, you aren’t alone. According to WalletHub’s 2024 Credit Card Processing Fees Survey, 85% percent of people feel they are being nickel-and-dimed when paying ...

May 9, 2024

CFPB Rule To Save Americans $10 Billion A Year On Late Fees Faces Possible Last-Minute Freeze

A Consumer Financial Protection Bureau regulation that promised to save Americans billions of dollars in late fees on credit cards faces a last-ditch effort to stave off its implementation. Led by the U.S. Chamber of Commerce, the industry in March ...