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California changes hospital debt collection, charity care eligibility

A California bill signed into law this month imposes new limitations on hospital debt collection practices and changes charity care eligibility.

The CFPB Ombudsman’s Office celebrates Ombuds Day

Today, the CFPB Ombudsman’s Office is celebrating worldwide Ombuds Day! What is Ombuds Day? It is a day to increase awareness and help educate about the ombudsman profession.

July U.S. Mortgage Delinquency Rates Approach Pre-Pandemic Levels, CoreLogic Reports

IRVINE, Calif., October 12, 2021—CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for July 2021.

The CFPB is looking out for families, workers, and communities

Today, I was sworn in as Director of the CFPB. I am honored to lead this organization, which plays an essential role within the Federal Reserve System. Here’s what I shared with our staff and my fellow financial regulators:

FTC Sends Refunds Totaling Nearly $300,000 to People who Lost Money to a Tech Support Scheme

The Federal Trade Commission is sending 31,075 checks to people who were deceived by Elite IT Partners Inc. into paying for costly and unnecessary computer repair services.

Education Department extends Navient’s federal loan servicing contract through 2023

Student loan servicer Navient extended its federal contract with the Department of Education through 2023, despite previously announcing on Sept. 28 its intention to exit the federal student loan business.

Consumer advocates urge CFPB to rein in pay advance companies

(Reuters) – Dozens of advocates have called on the U.S. Consumer Financial Protection Bureau to regulate earned wage access products as a form of credit, arguing that fronting money to workers ahead of payday poses unaddressed risks.

Vroom to acquire auto lender United Auto Credit for $300 million

(Reuters) – Vroom Inc said on Tuesday it would buy automotive lender United Auto Credit Corp for $300 million in cash, as the online used car retailer seeks to offer financing options for its shoppers.

En banc Ninth Circuit quashes Oakland bid to sue Wells Fargo for lost tax income

SAN FRANCISCO (CN) — The city of Oakland cannot sue Wells Fargo for allegedly racist lending practices that it says triggered widespread foreclosures and lost property tax revenue, an en banc Ninth Circuit panel ruled Tuesday.

Former CFPB Enforcement Director to Lead Federal Student Aid Enforcement Office

The U.S. Department of Education’s Office of Enforcement is restoring the Federal Student Aid (FSA) department under the leadership of Kristen Donoghue, who formerly led the Consumer Financial Protection Bureau’s Office of Enforcement.