Congress should support joint resolutions to void the CFPB’s credit card late fee final rule, America’s Credit Unions and other organizations wrote to members of Congress Tuesday. Sen. Tim Scott, R-S.C., and Rep. Andy Barr, R-Ky., introduced the resolutions Monday. “By its own admission, the Bureau’s late fee rule will harm the 74% of consumers …
The CFPB’s proposed annual collection of auto loan data points is beyond the bureau’s statutory authority, America’s Credit Unions and other trade organizations wrote to leaders of the Senate Banking and House Financial Services Committees Tuesday. The CFPB requested approval from the Office of Management and Budget in January to expand a pilot program to …
The Fair Credit Reporting Act is meant to resolve factual disputes not legal disputes, America’s Credit Unions wrote in an amicus brief filed in the 3rd Circuit Court of Appeals Monday in Ritz v. Nissan. The plaintiffs attempted to end a lease agreement without scheduling an appointment for lease-end paperwork, resulting in an additional monthly …
America’s Credit Unions is concerned with any potential legislation to restrict arbitration, the organization wrote to the Senate Judiciary Committee this week ahead of its Tuesday hearing on arbitration. America’s Credit Unions President/CEO Jim Nussle noted in the letter that arbitration can be an efficient means to resolve legal disputes, and the ability to quickly …
