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Compliance

New Disclosure Laws Proposed in New York, Illinois

Eric Rosenkoetter from Maurice Wutscher has been doing yeoman’s work this month in keeping track of proposed state laws that the credit and collection industry need to be aware of. Following up on his notice about a proposed law in New York that clarifies how collectors and creditors can attempt …

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CFPB Fines Online Lender $3.2M For Illegally Debiting Accounts

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Enova International, an online payday lender, has been fined $3.2 million by the Consumer Financial Protection Bureau for allegedly withdrawing payments from individuals’ bank accounts without the proper permission and failing to honor loan extensions it had granted to customers. The lender would purchase loan applications from lead generators and …

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