Mass. settles with rent-to-own company for unfair debt collection practices
The company agreed to pay $8.75 million and cease filing criminal complaints against customers as a debt collection tool.
The company agreed to pay $8.75 million and cease filing criminal complaints against customers as a debt collection tool.
The dollar thresholds for both regulations were increased from $66,400 to $69,500, an increase of 4.6 percent.
According to FHA, the proposal “… will support servicer liquidity and strengthen the HECM market for senior homeowners.”
HUD requires federal mortgage holders to perform property inspections to determine “occupancy status, ascertain property condition and to maintain property preservation.”
The CFPB used the information in its annual report to Congress on the Fair Debt Collection Practices Act (FDCPA).
The guidance adopts new requirements for coin-listing and delisting policies of DFS-regulated virtual currency entities.
The proposals would regulate stablecoins for future retail use while preventing money laundering and safeguarding financial stability.
The report finds that states play an active role in promoting reinvestment by institutions, but further review is necessary to understand these developments.
The update to the FHA’s rule affects how real estate appraisers will now appraise manufactured homes using the sales comparison approach (SCA) grid.
FSOC adopted key changes in consideration of public comments on the analytic framework for financial stability risks and interpretive guidance on nonbank designations.
The rule would apply to firms offering services like digital wallets and payment apps and handling more than 5 million transactions per year.
The report finds that Black and Latino New Yorkers are “underrepresented” among mortgage applicants and identifies policy solutions that could reduce these disparities.
The California regulator found four debt collectors in violation of the Debt Collection Licensing Act and California Consumer Financial Protection Law.
New legislation establishes a licensing requirement for digital asset businesses and regulations for crypto kiosks.
Learn more about the NMLS Mortgage Call Report, Version 6 (FV6) and what you can do to prepare your company before the January 2024 deadline.
The new legislation amends the California Consumer Privacy Act of 2018 and the California Privacy Rights Act (CPRA) of 2020.
Among other things, the California Privacy Protection Agency is authorized to create a streamlined method for consumers to delete their collected information.
The CFPB director spoke at a digital payments event and provided steps that would increase oversight to help protect consumers.
Covered providers offering commercial loans must continue to disclose the total cost of financing expressed as an annualized rate indefinitely.
According to the consent order, the settlement resolved allegations of repeated violations of AML/BSA requirements and New York law.