MASS. AG SUES AUTO LENDER FOR VIOLATING STATE COLLECTION CALL LIMITS, AMONG OTHER VIOLATIONS
- The Attorney General of Massachusetts yesterday announced a lawsuit against Credit Acceptance Corp., a subprime auto lender, for knowingly originating loans to individuals even though it knew they would be unable to repay them, and then said the lender “harassed” those individuals by calling them as many as eight times a day in attempting to collect on unpaid debts, which is a violation of state law.
CALIFORNIA LEGISLATURE APPROVES STATE CFPB
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- The California legislature yesterday passed a bill that will create its own version of the Consumer Financial Protection Bureau, and Gov. Gavin Newsom — who spearheaded the initiative — has indicated he plans to sign the bill into law.
CFPB DATA SHOWS CONSUMERS HELD UP WELL DURING INITIAL MONTHS OF PANDEMIC
- There was an overall drop in delinquency rates among mortgages, credit cards, auto loans, and student loans during the first few months of the coronavirus pandemic, according to data released yesterday by the Consumer Financial Protection Bureau, which also indicated that individuals were not using their credit cards to keep themselves financially afloat.
FFAM360 ANNOUNCES ANNUAL BACK TO SCHOOL DRIVE
- For the fifth straight year, the FFAM360 Alliance Of Companies is hosting a back to school supply drive for local school-aged children to ensure that kids have the supplies they need as they return to the classroom.
WORTH NOTING: More airlines are following United’s lead in doing away with change fees on domestic flights … Amazon is one step closer to delivering your packages via drone … The top pandemic perks being offered by companies across the country today … The winners and losers of Major League Baseball’s trade deadline … Walmart is rolling out its answer to Amazon Prime … What the merger of Sprint and T-Mobile means for you … How one couple with a toddler is spending a lot less than you … How coronavirus is setting off a wave of bankruptcies across the country.
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