Federal court rules consumer bureau structure unconstitutional

A federal district judge ruled Thursday that the structure of the Consumer Financial Protection Bureau (CFPB) violates the Constitution, countering a January ruling from a federal appeals court. Judge Loretta Preska of the Southern District of New York ruled that the CFPB’s creation as an independent agency with a director

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Counting the millions of evictions

The Eviction Lab, a project led by sociologist Matthew Desmond (author of Evicted), have performed the invaluable and impressive task of gathering landlord-tenant eviction records from every county in the nation for the past 16 years. The sobering results, released today (NY Times story) paint a picture

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US Ed to shield debt collectors from consumer protection

As if the power to garnish wages without going to court, seize federal income tax refunds and charge 25% collection fees weren’t enough, debt collectors have now persuaded the Education Department to free them from state consumer protection laws when they collect defaulted student loans. Bloomberg News reports that a

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Phantom debt collectors impersonate law firms

Getting a call from a debt collector can be stressful. But it can be downright frightening when the caller uses lies, profanity and threats to try to get you to pay. In a case announced today, the FTC says a debt collection operation in Charlotte, NC pretended to be

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Huge win for Debt Collectors/Debt Buyers

Florida Court Finds Materiality Needed for Date of Delinquency Claims Under FDCPA-****Huge win for Debt Collectors/Debt Buyers**** On October 31, 2017, a federal judge in Florida reaffirmed a legal principal that only the material misrepresentations of a debt collector are actionable under the Federal Debt Collection Practices Act (FDCPA), 1692

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Trump Administration Wants to Get Rid of CFPB

The Consumer Financial Protection Bureau (CFPB) yesterday released a report that shows complaints by student loan borrowers have driven actions that have produced more than $750 million in relief for student loan borrowers and strengthened the student loan repayment process for millions more. These changes include automatic student loan interest-rate

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