The Consumer Financial Protection Bureau (CFPB) issued new technical specifications for the credit card agreement submission process. The CFPB’s Collect website is the mandatory vehicle for issuers to submit credit card agreements and their associated data in 2022 and beyond.
NOTICE OF WORKSHOP TO SOLICIT COMMENTS ON PROPOSED REGULATIONS PERTAINING TO SENATE BILL 248 (S.B.248) MEDICAL DEBT COLLECTION AND WORKSHOP AGENDA
The State of Nevada, Financial Institutions Division (“Division”), 3300 W. Sahara Avenue, Suite 250, Las Vegas, Nevada 89102, (702) 486-4120 is proposing the adoption of regulations to Chapter 649 of the Nevada Administrative Code (“NAC”). The proposed regulations are required as a result of the passage of Senate Bill 248 (S.B.248) during the 81st Session of the Nevada Legislature adjourned sine die on June 1, 2021. This workshop will be conducted in accordance with NRS 233B.061 and the purpose is to solicit comments from interested persons on the proposed regulations to be held through videoconference and teleconference.
In the 18 months since the CARES Act first passed, over a million American homeowners took advantage of the forbearance protections the law provided for. After a few extensions, the mortgage payment pause officially ended — or will be ending soon — for 1.2 million out of an estimated 1.7 million loans that remained in forbearance as of August, according to CoreLogic.
This Semi-Annual Report to Congress comes as we begin the recovery from a global pandemic. The last two years have brought tragedy and loss to millions and heightened our collective awareness of the persistent racial and economic inequities in our country. Congress, through the Dodd-Frank
Wall Street Reform and Consumer Protection Act, created the CFPB to stand on the side of consumers and ensure they are treated fairly in the financial marketplace, and the statute compels the CFPB to respond to this moment.
42% of Americans have racked up more credit card debt since Covid-19 began. These tips can help get that under control
Covid-19 has triggered unprecedented financial challenges for many individuals and families. Now, one survey shows just where many of them are feeling the pinch — their credit card balances. Bankrate.com finds that 42% of U.S. adults with credit card debt have increased those balances since the Covid-19 pandemic began in March 2020. The company’s online survey was conducted in early September and included 2,400 adults, 1,297 of whom had credit card debt.
Although the average American with debt holds $23,325 in non-mortgage debt, that’s actually a major drop from just two years ago. In 2019, the average American with debt held $29,800 in non-mortgage debt, so this new figure represents a 20% decrease, a recent Northwestern Mutual study found.
Oct 7 (Reuters) – The largest U.S. lenders are expected to report moderately higher third-quarter profits next week as pandemic-related accounting adjustments that had doubled their earnings earlier this year taper off and business starts to return to normal.
Earlier in the month, PennyMac Financial and United Wholesale Mortgage publicly announced that they are each raising their conforming loan ceilings by 14%, nearly two months ahead of the Federal Housing Finance Agency‘s official decree. They’re not the only ones getting a jump on new conforming loan limits.
On October 1, 2021, two Acts overhauling data privacy and cybersecurity in Connecticut took effect—the latest instance of stronger state breach reporting requirements with a safe harbor protection from litigation for businesses that implement cybersecurity measures. The still relatively new safe harbor incentive system may be further validated by this development and continue to spread to other states.
Attorney General Bonta Provides Public Servants With Information on How to Utilize the Updated Public Service Loan Forgiveness Program
OAKLAND – California Attorney General Rob Bonta issued a consumer alert today highlighting important information regarding recent changes to the Public Service Loan Forgiveness (PSLF) program. On Oct. 6, 2021, the U.S. Department of Education (ED) announced that over the coming months, it will be implementing critical improvements to the PSLF program that should provide more eligible public servants with the student loan forgiveness that they deserve. As part of these improvements, ED has launched a limited-time Public Service Loan Forgiveness Limited Waiver Opportunity that will run through Oct. 31, 2022, allowing eligible borrowers to receive credit for past payments made on loans that would otherwise not qualify under the PSLF program.