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The Consumer Financial Protection Bureau on Friday announced it had filed a lawsuit against Comerica Bank, accusing it of systematically harming three million Direct Express cardholders, many of whom rely on Social Security and other federal benefits. Comerica is alleged to have deliberately disconnected more than 24 million customer service calls, charged illegal ATM fees to more than one million cardholders, and mishandled fraud claims.
Swedish debt collector Intrum won U.S. court approval for a $4.6 billion debt restructuring, defeating a bondholder group that argued the company didnt need or deserve the protections of bankruptcy. JudgeChristopher Lopezof the U.S. Bankruptcy Court in Houstonconfirmed a restructuring plan that cuts Intrums debt while preserving its equity holders stakes in the business.The judge simultaneously ruled againsta bondholder groupthatargued the company wasnt in financial distress and had manufactured
I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management Turnkey Speech Analytics. And Our New BLG360 Program Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.
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In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
The Court of Appeals for the Second Circuit has affirmed a ruling in favor of the defendant in a Fair Credit Reporting Act case, ruling that the plaintiff failed to demonstrate a concrete injury as required to establish standing in federal court. The background: The case stemmed from the plaintiffs long-standing dispute with the defendant, a credit reporting agency.
Rohit Chopra made his first public comments about Elon Musk’s call to “delete” the Consumer Financial Protection Bureau this weekend, while a published report in The New York Times said that the Bureau is “likely here to stay. Chopra also addressed his future at the CFPB, which is likely to end when President Trump takes office in January. “I don’t even know what it means,” Chopra said during a televised interview on MSNBC. “When you say you’
Rohit Chopra made his first public comments about Elon Musk’s call to “delete” the Consumer Financial Protection Bureau this weekend, while a published report in The New York Times said that the Bureau is “likely here to stay. Chopra also addressed his future at the CFPB, which is likely to end when President Trump takes office in January. “I don’t even know what it means,” Chopra said during a televised interview on MSNBC. “When you say you’
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