COLLECTORS BANNED FROM INDUSTRY IN SETTLEMENT WITH FTC
- The remaining defendants in a lawsuit filed by the Federal Trade Commission have reached a settlement, under which they will be permanently banned from participating in the collection industry as well as surrender funds in a number of bank accounts and the title to a Mercedes as part of a $12 million judgment that has been partially suspended.
FINANCIAL CUSHIONS FOR AMERICANS GETTING THINNER HEADING INTO 2022
- While most households are in a better financial shape now than they were when the COVID-19 pandemic began, the economic benefit from financial aid provided by the federal government is rapidly fading, especially for those at the bottom of the income ladder, according to a published report, which warns that fewer consumers have savings to fall back on in case of an emergency.
CFPB PUBLISHES SUPERVISORY HIGHLIGHTS, DETAILS POTENTIAL ISSUE WITH MISLEADING CREDIT REPORTING STATEMENTS
- The Consumer Financial Protection Bureau has published its latest Supervisory Highlights report, which “shines a light on legal violations” identified during CFPB examinations that were conducted during the first half of 2021 as well as publicizing prior supervisory findings that led to public enforcement actions during that timeframe. By and large, debt collection received less ink and attention than other sectors of the financial services industry, as the CFPB continues to focus its enforcement attention in other areas.
HOSPITALS SUE GOV’T OVER DISPUTE PROCESS IN NO SURPRISES ACT
- The American Medical Association and American Hospital Association have filed a lawsuit against the federal government seeking to stop the enactment of the No Surprises Act, which is scheduled to go into effect on January 1. The groups, joined by a number of other healthcare providers, are trying to block the process through which payers and providers would resolve disputes over the cost of medical treatments.
WORTH NOTING: Why it might be time to rethink working 9 to 5 … A dinnertime hack that you may want to use in your household … The best cities across the country to celebrate New Year’s Eve … The occupational hazard rules are different when you work from home, especially in Germany … Where are the deals is a cry heard around malls and stores across the country this holiday season … Tips to help maintain workplace culture when employees are working remotely … Looking at the financial conflicts for every member of Congress … Financial planners share advice about what to do with your money during inflation … A professional gifter shares the best presents to give this holiday season.
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