Remove category reasonable-investigation
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CFPB Makes Move to Widen Supervisory Scope

Troutman Sanders

Under Dodd-Frank, the CFPB has authority to examine three categories of nonbank entities: Nonbank entities that offer or originate mortgages, private student loans, and payday loans, regardless of the nonbank entity’s size. Nonbanks engaging, or have engaged, in “conduct that poses risks to consumers.”.

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CFPB Reports Consumers in Minority Neighborhoods More Likely to Have Disputes on Credit Report

Troutman Sanders

The FCRA then requires the CRA to conduct a reasonable investigation and correct any inaccuracies discovered as a result of its investigation. The report then isolated these statistics by various demographic categories based on census data for the area in which the consumer resided.

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CFPB Reports Consumers in Minority Neighborhoods More Likely to Have Disputes on Credit Report

Collection Industry News

The FCRA then requires the CRA to conduct a reasonable investigation and correct any inaccuracies discovered as a result of its investigation. The report then isolated these statistics by various demographic categories based on census data for the area in which the consumer resided.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Director Chopra discussed potential resolutions on the hypothetical failure of three categories of systemically important financial institutions: (1) domestic systemically important financial institutions; (2) nonbank systemically important financial institutions; and (3) global systemically important banks. For more information, click here.

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High-Risk Business with Stripe, PayPal, Square, Venmo

Payment Savvy

This article discusses what high-risk merchant accounts are, the reasons why different payment processing companies may drop your account, and how to avoid it altogether. However, some niches are allowed to use Stripe merchant accounts after being investigated and approved by the merchant processor.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

The guidance requires lenders to use specific and accurate reasons when taking adverse actions against consumers, meaning creditors may not simply use CFPB sample forms if they do not reflect actual reasons for denying credit or changed credit conditions. For more information, click here. For more information, click here. 1020.210(b).

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All the Best Credit Cards of 2022

Better Credit Blog

We’re going to help you do that by introducing the basic credit card categories, as well as some of the top performers in each. What to watch for: Credit cards paying higher cashback rewards on select categories will only be a benefit if you’re likely to spend heavily in that category. Credit Cards for People with Poor Credit.