FTC and CFPB to implement actions to follow the president’s lead. President Joe Biden gave a speech from the White House Rose Garden this week, addressing the pervasive…
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CFPB Proposes Removal of Medical Bills from Credit Reports
The director says, “Medical bills have little predictive value in credit decisions.“ The Consumer Financial Protection Bureau (CFPB) is in the rulemaking process that would take medical bills…
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FTC Joins Consumer Financial Protection Bureau in Credit Information Appeal
The case involves how disputed credit information should be handled under the Fair Credit Reporting Act. The Consumer Financial Protection Bureau (CFPB) was joined by the Federal Trade…
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Landlords of USDA-Financed Rentals Urged to Disclose Renters’ Rights
President Biden’s administration has outlined a “bill of rights” for renters of federally-funded properties. The U.S. Department of Agriculture (USDA) is encouraging landlords of USDA-financed properties to inform…
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President’s Administration Warns Financial Firms of AI Risks
Decisions made with data sets can lead to more discrimination, not less The heads of the Consumer Financial Protection Bureau, the Justice Department’s civil rights unit, and the…
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Regulators Shut Down California Bank
Customers make massive withdrawals after big asset losses. The Federal Deposit Insurance Corporation and the California Department of Financial Protection and Innovation shut down the Silicon Valley Bank…
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Administration Proposes Lower Credit Card Fees
Late fees would be capped at $8. The Consumer Financial Protection Bureau is proposing an update to the 2009 regulation from the Credit Card Accountability Responsibility and Disclosure…
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Wells Fargo to Pay for Legal Violations and Mismanagement
Government bureau finds the bank mistreated millions of customers. The Consumer Financial Protection Bureau (CFPB) has ordered Wells Fargo Bank to pay restitution of over $2 billion to…
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Federal Trade Commission Investigating Crypto Firms
Officials looking into allegations of deceptive conduct. The Federal Trade Commission said they have opened investigations into unspecified cryptocurrency firms over allegations of “possible misconduct.” The commission has received…
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FTC Sues Vonage over Junk Fees
Commission submits court order requiring Vonage to refund $100 million. The Federal Trade Commission (FTC) has filed a court order against Vonage, alleging that they regularly use predatory…
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