JUDGE DENIES MOTION TO COMPEL ARBITRATION IN FDCPA CASE
- A District Court judge in California has denied a defendant’s motion to compel arbitration in a Fair Debt Collection Practices Act case, ruling that the collection law firm’s actions were independent of the original creditor, and thus not subject to the original agreement’s arbitration clause.
BILL INTRODUCED TO REQUIRE COST-BENEFIT ANALYSIS PRIOR TO CFPB ISSUING REGULATIONS
- A bill has been introduced in the House of Representatives and Senate that, if passed, would require the Consumer Financial Protection Bureau to take additional steps, such as performing qualitative and quantitative cost-benefit analyses of all proposed regulations and identify alternatives to proposed regulations and compare the benefits and costs of those alternatives, among other provisions, prior to issuing any new regulations.
AGENCY SUED FOR NOT USING PROPER CONDITION CODE
- A complaint has been filed against a collection agency, accusing it of violating the Fair Credit Reporting Act and the Fair Debt Collection Practices Act by using the wrong condition codes when furnishing information about the debt to the credit reporting agencies. This content is sponsored by WebRecon.
BOFA FINED $225M FOR ‘BOTCHED’ FRAUD FLAGS ON UNEMPLOYMENT DISBURSEMENTS
- The Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency have imposed $225 million in fines against Bank of America for “botching” the disbursement of state unemployment benefits in 2020 and 2021 during the “height” of the COVID-19 pandemic.
WORTH NOTING: An X-ray uncovered a self-portrait of Vincent Van Gogh … If you’re going to rob a Waffle House, you may as well eat there first … I wonder if the parents plan on stealing the name George Costanza wanted to use for his kid … Would you pay strangers $40 a month to watch you work so you can be held accountable? … If you drive a Honda, your key fob may be susceptible to hackers … Members of Generation Z are turning to Instagram and TikTok for searches more than Google … The price of stamps just went up $0.02 … Alcohol carries significant health risks for young people, according to new research.
Funny Friday, Part I
Funny Friday, Part II
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