The Consumer Financial Protection Bureau is keeping its consumer complaints database public, in a surprising move that may assuage advocates’ concerns. The agency said Wednesday that it will continue to publish consumer complaints publicly, but that it was also make significant changes to the database. The move comes after the agency put out a call for public input on its consumer inquiry and complaint database in 2018 while it was under the direction of Mick Mulvaney, who now serves as the acting White House chief of staff. The move was seen as a sign that the agency would make the database private, a change that would be welcomed by many in the financial-services industry.
In a comment to the Consumer Financial Protection Bureau (CFPB), staff of the Federal Trade Commission provided feedback on a number of proposed rules that implement the Fair Debt Collection Practices Act (FDCPA). In the comment, FTC staff notes that the Commission has long advocated for amendments and clarifications to existing laws to account for changes both in the debt collection marketplace and consumer technology since the FDCPA was passed in 1977. The comment also describes the Commission’s law enforcement, policy, and education efforts to protect consumers from unlawful debt collection practices.
NEW YORK – New York Attorney General Letitia James today announced that the Commonwealth of Pennsylvania is joining the multistate lawsuit blocking the anticompetitive megamerger of telecommunications giants T-Mobile and Sprint, becoming the 18th plaintiff to join the lawsuit and add to the states’ momentum. “Pennsylvania’s addition to our lawsuit adds to the states’ momentum against this megamerger that continues to be bad for consumers, bad for workers, and bad for innovation,” said Attorney General James. “We welcome Pennsylvania and Attorney General Shapiro to our multistate coalition that continues to build strength, and now includes every region of the nation.”
The head of the Consumer Financial Protection Bureau now believes that the financial regulator she leads is unconstitutionally structured. CFPB Director Kathleen Kraninger notified senior lawmakers on Tuesday that the bureau had determined that the law that established the agency in the wake of the financial crisis gave her too much independence. That brings her position in line with the one adopted by the Department of Justice in March 2017.
It’s no secret working capital is the lifeblood of all small businesses. It’s the fuel that keeps them running, helps them grow and take on new opportunities. And yet, so many small businesses struggle with cash flow. In fact, according to a recent study from Intuit QuickBooks, 61% of small businesses have had cash flow issues in the past year. A very common step business owners take when experiencing a cash flow crunch is seeking external resources to help bring some quick capital in the door. Until very recently, many business owners marched straight to their bank to apply for a traditional business loan. While bank loans on the national or local level are a tried and true way of securing additional funds, they are no longer the only way of obtaining capital.