Federal bank regulatory agencies today released the 2024 list of distressed or underserved nonmetropolitan middle-income geographies where certain bank activities are eligible for Community Reinvestment Act (CRA) credit.
I often say class counsel should avoid demanding class data upfront. It largely just complicates matters for them. Instead the right move is to learn about the data sets available so you can determine whether they are reliable or not. If so, you can move forward without the full production. If not, you can get out before wasting any more time-or pivot to an optional strategy.
Embedded lending can help microbusinesses and small businesses grow and maintain smooth operations despite unstable cash flows. However, PYMNTS Intelligence’s latest study finds that relatively few microbusinesses and small businesses currently take advantage of this lending solution. In fact, fewer than one in five respondents used it in the last year. The data highlights unmet needs for access to lending, especially among microbusinesses.
On July 8, 2024, in the lawsuit challenging the CFPB’s credit card late fee rule (Rule), the CFPB filed a notice of supplemental authority in support of their motion to dismiss or transfer the case, a motion to dissolve the preliminary injunction, and a brief to support their motion.
Everyone who has worked in collection operations knows what it is like to create workarounds for processes. Often, these processes are designed by corporate teams without a true understanding of operational realities. Cutting corners on lengthy scripts or using alternate approaches is common to save time or simplify execution. However, processes are designed to ensure compliance with policies and requirements. So, is your workaround still compliant?
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