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September

24
2024
Industry News

New York Federal Court Certifies TCPA Class Where Phone Numbers Were Obtained Through a Third-Party Website

In Aley v. Lightfire Partners, LLC, a U.S. District Court in the Northern District of New York certified aa Telephone Consumer Protection Act (TCPA) class action for all persons whose telephone numbers were on the National Do Not Call Registry (DNC) but who received more than one telemarketing call from the defendant based on alleged consent given to a third-party website.

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September

24
2024
Industry News

CFPB Report Highlights Challenges Facing Servicemembers and Veterans with Student Loans

Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on the top financial concerns facing servicemembers, veterans, and military families. The report finds that active duty and veteran students are encountering many financial challenges, including difficulties getting help from student loan servicers and transcript withholding by colleges and universities as a means to collect a debt or disputed fees.

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September

23
2024
Industry News

CFPB Proposes Amendment to Remittance Transfer Rule

Today, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with a narrow amendment to disclosure requirements for certain international money transfers, or remittances. The proposed amendment would provide consumers clearer information about the types of inquiries that may be better handled by their remittance company before contacting the CFPB or the relevant state regulator.

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September

23
2024
Industry News

CFPB wins default judgment in auto dealership complaint, but federal judge rejects bureau assessment of damages

A federal District Judge for the Northern District of Georgia, Victoria Marie Calvert, awarded a default judgment to the CFPB against USASF, a car loan servicer of loans originated by U.S. Auto Sales Inc., a buy-here, pay-here dealership. The claim was based on alleged violations of myriad consumer protection rules.

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September

23
2024
Compliance

Lenders encouraged to take a more compassionate approach to debt management

The Chief Executive of the Financial Ombudsman Service (FOS) has urged financial firms to do more to help struggling consumers.  Speaking at the ‘Connected 2024’ conference Abby Thomas, Chief Executive and Chief Ombudsman at FOS said there has been an Increase in debt levels have left some consumers feeling confused, stressed and out of their depth.  

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