CFPB, Fed release threshold adjustments
The CFPB Monday announced annual threshold adjustments related to the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), and Fair Credit Reporting
Source: cuinsight.com
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CFPB, OCC and Federal Reserve raise thresholds for TILA standards
Regulators made annual adjustments to cutoff thresholds for oversight of loans under TILA and appraisal requirements fir higher-priced loans.
Source: housingwire.com
Rhode Island federal court nixes stand-alone class action waiver | Ballard Spahr LLP
A Rhode Island federal district court recently refused to enforce a stand-alone class action waiver in the consumer plaintiff’s automobile lease agreement on the ground that it violates...
Source: jdsupra.com
CFPB Issues Consent Order Banning Nonbank Consumer Finance Company from Offering Consumer Leases | Troutman Pepper
On September 11, the Consumer Financial Protection Bureau (CFPB) announced that it issued a consent order against Tempoe, LLC, a nonbank consumer finance company, for alleged violations...
Source: jdsupra.com
Mississippi part of settlement with Tempoe LLC for misleading customers
Mississippi has been named one of the 41 states included in a settlement with Tempoe, LLC following an investigation into the company’s advertising and leasing to consumers through retailers across the nation. The multistate investigation revealed that Tempoe’s marketing and sales practices often misled consumers to believe they were signing...
Source: supertalk.fm