The CFPB found alleged violations of the Fair Debt Collection Practices Act (FDCPA) and other consumer protection laws in its examination of debt collectors, loan servicers, and financial institutions managing deposit, prepaid, and medical credit card accounts, as published in its Supervisory Highlights. The CFPB’s report, based on examinations conducted between April 1, 2023, and December…

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The CFPB issued a request for comment on its proposed Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information (Regulation V), which would amend regulations implementing the Fair Credit Reporting Act (FCRA) as applied to medical information. The proposed rule would eliminate an exception that permits lenders to obtain and use information about medical debt…

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New York AG Letitia James has filed a lawsuit against cryptocurrency companies Nova Tech, Ltd and AWS Mining Pty Ltd., along with their founders and promoters, alleging that the companies operated illegal pyramid and Ponzi schemes that defrauded investors of over a billion dollars in cryptocurrency in violation of the Martin Act and New York…

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The U.S. Supreme Court issued an opinion in Cantero v. Bank of America, N.A., No. 22-529, allowing states to enforce state consumer financial protection laws against both state and national banks.

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The CFPB has launched an inquiry into so-called “junk fees” charged by mortgage providers and related settlement services, to better understand why closing costs continue to rise and the impact of such fees on borrowers and the mortgage market. The Request for Information Regarding Fees Imposed in Residential Mortgage Transactions seeks input from the general public…

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