The FTC hopes the proposed rule will save consumers time and money and ensure a level playing field for honest dealers.
WASHINGTON, D.C. — President Donald Trump took his first step toward making good on his promise to dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act, signing on Friday an executive order directing the secretary of the Treasury to review the 2010 financial oversight law. The order directs the Treasury secretary to consult with ... Read More »
WASHINGTON, D.C. — U.S. Senator Deb Fischer (R-Neb.) reintroduced on Jan. 11 legislation aimed at replacing the director of the Consumer Financial Protection Bureau with a five-member bipartisan board. The bill was introduced just as Congressional Democrats and state regulators pledged to defend the bureau against attacks from the Trump administration. This is the third ... Read More »
WASINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) this week took action against Equifax and TransUnion, ordering the two credit reporting agencies and their subsidiaries to pay more than $17.6 million in restitution for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The two firms were also ... Read More »
NEW YORK — The New York State Department of Financial Services (NYDFS) submitted last week a final consent judgment to settle its lawsuit against Condor Capital Corporation, a subprime auto lender based in Long Island, and its sole shareholder, Stephen Baron. Among other violations, the defendants deceptively retained millions of dollars owed to vulnerable borrowers ... Read More »
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