Articles

Five U.S. airlines reach deals with Treasury Department for billions in coronavirus loans

Five airlines have struck agreements with the Treasury Department for portions of $25 billion in federal loans aimed at softening the blow of the coronavirus pandemic on their businesses. American Airlines, Hawaiian Airlines, Sky West Airlines, Spirit Airlines and privately-held Frontier Airlines have signed letters of intent for the loan terms, the Treasury Department said Thursday.

Freddie Mac extends multifamily loan forbearance relief to landlords

Freddie Mac is expanding the mortgage relief options it offers multifamily property owners, but there are strings attached. The agency, which is under government conservatorship, today announced that landlords with federally-backed mortgages can further extend the repayment period. Putting off those payments does come with a price.

Popular coronavirus relief loan program for small business expires with billions untapped

Nearly $135 billion provided by Congress to help small businesses struggling to survive the COVID-19 pandemic was left on the table Tuesday as the Paycheck Protection Program stopped accepting new applications.

California Senate passes bill to license debt collectors

SACRAMENTO – With more Californians living paycheck-to-paycheck and taking on more debt to cover their bills, the California State Senate today approved with bipartisan support SB 908 by Senator Bob Wieckowski (D-Fremont) to require the licensing of debt collectors and debt buyers in California. The bill is supported by a number of California’s top consumer organizations.

United States Supreme Court Provides Little Guidance to Remedy an Unconstitutional CFPB

The Consumer Financial Protection Bureau (CFPB or Bureau) has been a federal agency like no other. Born out of the last financial crisis, the Dodd-Frank Act envisioned the CFPB to be an independent agency, free of “political influence.” Congress thus authorized the CFPB to be led by a single director – rather than a board of multiple members – who would possess significant rulemaking and enforcement over 19 consumer protection statutes as well as unfair, deceptive, and abusive acts and practices. Its single director structure – only removable for “inefficiency, neglect of duty or malfeasance” – as well as its funding outside the appropriation process – provoked strong opinions from industry and advocates alike.  

Chicago Ticketing Enforcement, Debt Collection Returning to Normal

The city of Chicago’s ticketing enforcement and debt collection practices will begin returning to normal Wednesday with the start of the new month, officials say. Ticketing of certain vehicle violations was temporarily suspended in March but will resume for street sweeping beginning Wednesday.

Attorney General Becerra Reminds Consumers of Data Privacy Rights Under the California Consumer Privacy Act

SACRAMENTO – California Attorney General Xavier Becerra today issued an alert reminding consumers of their data privacy rights under the California Consumer Privacy Act (CCPA). The CCPA, which went into effect this year, provides consumers with access to and control over their personal information. The Attorney General plans to begin enforcement of the CCPA starting July 1, 2020. Businesses subject to CCPA were required to begin complying with the law on January 1, 2020. Proposed final regulations under the CCPA were submitted to the California Office of Administrative Law on June 1, 2020 and are currently pending approval.

Senate passes extension of Paycheck Protection Program

The Senate has passed an extension of the popular Paycheck Protection Program for small businesses, which was set to close down Tuesday night with $130 billion in funding left over. The extension to Aug. 8 was offered by Sen. Ben Cardin, D-Md., and cleared the chamber by unanimous consent. The House has yet to take up the bill but could pass it as soon as Tuesday night.

Phillips & Cohen Announces Vulnerable Customer Expansion Plans

Wilmington, DE – June 2020 – Phillips & Cohen Associates, Ltd., the leading specialist recoveries management business servicing creditors in the US, Canada, UK, Ireland, Australia, New Zealand, Spain, Portugal and Germany has announced plans to expand into the servicing of potentially vulnerable consumers.

FTC Data Shows Record Surge in Online Shopping Complaints During Pandemic

Newly released data show that since the beginning of the coronavirus pandemic, consumers have complained to the Federal Trade Commission in record numbers about problems related to online shopping.