Brian Reiss’ Post

THE SCANNER: CFPB and Massachusetts Granted $50 Million Summary Judgment Against Key Credit Repair, Citadel FCU Settles 1st Credit Union DOJ Redlining Complaint for $6.5 Million, CFPB and DOJ Take Action Against Fairway for Redlining Black Neighborhoods in Alabama, and more top headlines from this week. Catch up on all of the top news from this week: https://hubs.la/Q02TS6ld0 READER NOTE: If you find this of value, please like, comment, or repost it to your network. #banks #consumerlending #compliance #creditrisk #creditreporting #cfpb #fintech #news #industryupdates #TheScanner

Next summer, per a recent joint press release, Barclays' U.S. consumer bank is set to take over as the exclusive issuer of two General Motors credit cards in the U.S. The partnership will introduce a GM loyalty card with rewards and a business card. Barclays will replace Goldman Sachs in this venture, aiming to elevate GM's credit card offerings. Read more: https://lnkd.in/eX_t4uDw

THE SCANNER: Largest Verdict of $140 Million Obtained for Consumers under FCRA Class Action, TD Bank Faces $3 Billion in Penalties & Growth Limitation from US Regulators Settlements, CFPB Takes Action Against Wrongful Auto Repossessions and Loan Servicing Breakdowns, and more top headlines from this week. Catch up on all of the top news from this week: https://hubs.la/Q02T0C-70 READER NOTE: If you find this of value, please like, comment, or repost it to your network. #banks #consumerlending #compliance #creditrisk #creditreporting #cfpb #fintech #news #industryupdates #TheScanner

Great event from Spring Labs and exciting announcement about our first AI Credit Bureau Disputes Product coming in 2025!

This is very sad news for tennis players of all ages. Thank you, Rafa, for all the years of exciting and groundbreaking tennis and sportsmanship!

The CFPB published its Fall 2024 Supervisory Highlights this week, focusing on Auto Finance, an area of consistent focus over the past year. Issues highlighted include wrongful car repossessions post timely payments, inaccurate disclosures, misapplied loan payments, and erroneous credit report information. Additionally, add-on products in auto loans are flagged for inflating costs with inadequate refunds upon early termination. Stay informed by exploring the full report here: https://lnkd.in/dkFSyjQ7

With 3rd party vendor management in the spotlight, it's crucial to remember the regulatory obligations faced by entities serving consumer financial sectors. The CFPB's recent enforcement action against a service provider linked to credit repair firms underscores the significance of understanding obligations under federal consumer financial laws. Explore more about service provider liability under the Consumer Financial Protection Act here: [Link to the article] #CFPB #ConsumerProtection #FinancialServices