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On September 12, 2024, the Quebec Minister of Justice introduced Bill 72, An Act to protect consumers against abusive commercial practices and to offer better transparency with respect to prices [...]

What is credit application fraud? ENS' Forensics team have seen an upsurge in clients who have fallen victim to credit application fraud, a particular type of cybercrime. This type of [...]

> On July 18, 2024, the Consumer Financial Protection Bureau (CFPB) issued a Proposed Interpretive Rule and Request for Comment (Proposed Rule) addressing credit products in the paycheck advance marketplace, [...]

On August 7, 2024, the Consumer Financial Protection Bureau (CFPB) issued a report spotlighting four marketing and financing practices relating to solar financing that it claims pose significant consumer risks [...]

Stockholm, Sweden: The government has decided on a legal council referral with proposals aimed at countering risky lending and individuals becoming over-indebted by being granted loans that they cannot repay. [...]

A 2020 review of the Consumer Credit Directive (2008/48/EC) ('CCDI') by the European Commission (EC) found that CCDI has been only partially effective in ensuring a high level of consumer [...]

Luxembourg: Court of Justice of the European Union has issued the following news release: In September 2019, the Portuguese Competition Authority ('the Competition Authority') imposed on 14 credit institutions (including [...]

On May 22, the Consumer Financial Protection Bureau (CFPB) released an interpretive rule (Rule) that subjects certain 'buy now, pay later' (BNPL) providers to requirements set forth in the Truth [...]

self Episode Description An elderly widow scored a courtroom victory! In this episode, Stephen and Gavin dive into the gripping legal battle between a powerful Canadian bank and an elderly [...]

The loan rate for such borrowers cannot be increased by more than one third, or by more than 4 percentage points relative to the original rate. The Federation Council approved [...]

Thus, the maximum value of the rate, including a variable value, cannot exceed by more than one third the rate established by the loan agreement on the date of conclusion. [...]

England: Bryan Cave Leighton Paisner has issued the following press release: Buy Now, Pay Later ('BNPL') payments are often presented by retailers and BNPL lenders to consumers as an alternative [...]

BALTIMORE, MD -- The following information was released by the Maryland Department of Labor, Licensing and Regulation (MDLLR): Company Must Make over $184,000 in Refunds to Maryland Consumers The Maryland [...]

Bank of Russia decided to terminate the status of a self-regulatory organisation in the financial market uniting agricultural consumer credit cooperatives (SRO SKPK) the Association 'Self-regulatory Organization of Agricultural Consumer [...]

DENVER: Integrity Debt Solutions, LLC has issued the following news release: Integrity Debt Solutions, LLC a debt relief and debt settlement company specializing in helping Texas consumers and Texas residents [...]

Consumers with credit card debt that live in the state of Texas have vast protection according to the Texas Constitution and other state laws DENVER, May 9, 2024 /PRNewswire/ -- [...]

One of ASIC's major priorities for 2024 is cracking down on credit providers engaging in predatory lending and high-cost credit provided to consumers and small businesses. ASIC is concerned that [...]

HM Treasury policy note on delaying payments processing and draft amending regulations On 12 March 2024, HM Treasury published a near-final version of the Payment Services (Amendment) Regulations 2024, which [...]

In recent years, several state legislatures have enacted consumer credit laws designed to regulate FinTech companies operating through partnerships with depository institutions, or more generally to limit the interest rates [...]

On 12 March 2024, the Australian Treasury released for consultation an exposure draft legislative package that proposes to amend the current regulatory framework to regulate low cost credit contracts (LCCCs), [...]

Byline: Louis DeNicola and Robin Saks Frankel, Blueprint You might want to improve your credit score as quickly as possible, but credit is generally more of a marathon than a [...]

2024 APR 12 (NewsRx) -- By a News Reporter-Staff News Editor at Science Letter -- Investigators discuss new findings in social science. According to news originating from the University of [...]

Point-of-sale financing arrangements payable in four or fewer interest-free installments, known as buy now, pay later (BNPL) arrangements, have soared since their initial breakthrough during the pandemic.1 Unlike conventional point-of-sale [...]

On 5 March 2024, the Council of Ministers adopted an amendment to the Civil Code and the Consumer Credit Act. The new rules will remove restrictions on granting loans to [...]

WASHINGTON, D.C. -- The following information was released by the office of Missouri Rep. Blaine Luetkemeyer: Today, Congressman Blaine Luetkemeyer (MO-3) questioned witnesses from the Center for Monetary and Financial [...]

Amendments to the Consumer Credit Regulations, S.L. 378.12 (the 'Consumer Credit Regulations') and to the Credit Agreements for Consumers Relating to Residential Immovable Property, S.L. 378.10 (the 'Residential Property Credit [...]

WASHINGTON -- The following information was released by the American Financial Services Association (AFSA): This week, AFSA's State Government Affairs team sent a comment letter to the Colorado General Assembly [...]

Amendments to the Consumer Credit Regulations, S.L. 378.12 (the 'Consumer Credit Regulations') and to the Credit Agreements for Consumers Relating to Residential Immovable Property, S.L. 378.10 (the 'Residential Property Credit [...]

The Federation Council approved amendments to the laws On Credit Histories and On Consumer Credit (Loan) regarding citizens self-prohibition of loans (draft bill 341256-8 ). The right of the borrower [...]

An individual will have the right to submit applications free of charge to establish or lift a ban any number of times to all BKIs through the MFC or through [...]

For the consumer finance industry, 2023 was all about the Consumer Financial Protection Bureau (CFPB or Bureau). As Goodwin predicted last year, the uptick in regulatory and enforcement activity observed [...]

On January 17, New York Governor Kathy Hochul proposed legislation to regulate buy now pay later (BNPL) products. Governor Hochul previewed the proposal in early January, which is intended to [...]

MOSCOW, Russia -- The following information was released by the Federal Antimonopoly Service of the Russian Federation: The Authority revealed signs of a violation of the Law on Advertising in [...]

In this Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on [...]

New York: Fitch Ratings has issued the following commentary: Tougher minimum equity requirements for Indonesian insurers are likely to reduce the number of companies operating in the sector and encourage [...]

On December 23, 2023, the federal government published the proposed Criminal Interest Rate Regulations (the 'Regulations') for public consultation. These Regulations form part of the biggest change to the criminal [...]

On December 23, 2023, the federal government proposed new regulations1 (the 'Regulations') which represent a significant step in the ongoing transformation of the criminal rate of interest regime. The Regulations [...]