Credit Grantors Archives

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October 14, 2024 by Don Hoegg Jr. in Artificial Intelligence

insideARM Weekly Recap - Week of October 7th, 2024

The world of debt collection is never at a loss for updates, but separating the important stuff from the background noise isn't always easy. At insideARM, our goal is to...

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October 9, 2024 by Kristen Larson in Banking

Case in which CFPB came to financial institutions’ defense dismissed

An Illinois federal judge has dismissed a proposed class action lawsuit that alleged that two Midwestern banks failed to provide repayment disclosures to borrowers, in a case that was unique because the...

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September 9, 2024 by Don Hoegg Jr. in Compliance

insideARM Weekly Recap - Week of September 2nd, 2024

A short week was still not short on news affecting debt collection! In our efforts to bring you the information you need to see, we found the most important pieces...

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September 5, 2024 by Orrick, Herrington & Sutcliffe LLP in CFPB

GOP pens letter to CFPB on medical debt credit proposal

On August 14, GOP members of the House Financial Services Committee sent a letter to CFPB Director Rohit Chopra voicing concerns about the CFPB’s proposed rule to ban the use of medical...

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May 22, 2024 by Missy Meggison in BNPL

BNPL Accounts = Credit Cards Says CFPB

The Consumer Financial Protection Bureau is wasting no time flexing its muscles now that the Supreme Court has confirmed its funding structure is constitutional. Today, the CFPB announced via press...

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May 15, 2024 by Caleb Rosenberg in Credit Grantors

California DFPI’s Proposed EWA Legislation Rejected by Office of Administrative Law

As discussed here, in March 2023, the California Department of Financial Protection and Innovation (DFPI) proposed new regulations under the California Financing Law that would interpret the definition of “loan”...

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May 13, 2024 by Missy Meggison in CFPB

Late Fee Rule Halted by TX Court

Late on Friday, May 10, 2024, a District Court in Texas entered an order stopping the Consumer Financial Protection Bureau's (CFPB) Late Fee Rule (Rule), which would slash credit card...

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March 19, 2024 by John L. Culhane, Jr. in CFPB

CFPB and Plaintiffs Fully Brief Motion for Preliminary Injunction in Trade Group Lawsuit Regarding Final Credit Card Late Fee Rule

The Consumer Financial Protection Bureau (“CFPB”) filed an opposition brief (the “Opposition”) on March 12, 2024 in response to a request by plaintiff trade groups to enjoin the CFPB’s final...

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March 12, 2024 by Kristen Larson in CFPB

CBA “Checks the Math” on Recent CFPB Credit Card Report Finding Large Bank Issuers Charge Higher Interest Rates Than Smaller Issuers

After targeting credit card late fees in its proposed rule, the CFPB has set its sights on further attacking credit card pricing through interest rates. The CFPB published a blog...

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March 5, 2024 by Missy Meggison in CFPB

CFPB Releases Final Credit Card Late Fee Rule; Slashes Fees to $8

Early this morning, and just in time for Thursday's State of the Union Address, the Consumer Financial Protection Bureau (CFPB) issued a press release announcing its much-anticipated Credit Card Late...

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