Mountain View
Advocate Andy
Lending Conglomerate Sued for Illegal Loan Churning Scheme
Companies involved include Covington Credit, Southern Finance, and Quick Credit. An installment lending conglomerate operating under the umbrella of Southern Management Corporation is being sued by the Consumer Financial Protection Bureau (CFPB) for an illegal loan churning scheme that netted the company hundreds of millions of dollars of revenue while keep thousands of customers in an endless debt cycle.
Report Details Impact of Property Tax Foreclosures on Inherited Wealth
Consumer advocates examine "tangled title" situations, propose solutions to preserve inherited property. A new report from the National Consumer Law Center (NCLC) details the potential challenges faced by heirs when an inherited property is subject to property tax liens and foreclosure.
Pastors Pray for Lawmakers Ahead of Special Legislative Session
Christian advocates call for wisdom, commonsense gun reform. A group of Tennessee pastors affiliated with an advocacy group known as the Southern Christian Coalition visited the state capitol today and offered prayers for lawmakers as a special legislative session on public safety is slated to begin.
Tennessee Physicians Call for Gun Safety Reform Legislation
Group delivers petition on opening day of special legislative session. A group of Tennessee physicians affiliated with the Protect My Care healthcare advocacy group delivered a petition to the Tennessee General Assembly calling for the body to enact gun safety reform legislation during a special legislative session that begins today.
Democrats Promote Gun Safety Reforms Ahead of Special Legislative Session
Legislature to begin session public safety starting August 21st. A special legislative session focused on issues related to public safety is slated to begin next week, and legislative Democrats are promoting key gun safety reform proposals they plan to push during the session.
Consumer Advocates Cheer Regulatory Effort to Rein-In Data Brokers
Consumer Bureau takes action to protect personal financial data. A coalition of consumer advocacy groups is applauding a recent announcement by the Consumer Financial Protection Bureau (CFPB) that the agency is examining the actions of data brokers and seeking to apply the rules of the Fair Credit Reporting Act (FCRA) to them. Specifically, CFPB action seeks to protect the personal financial information of consumers whose data may be bought and sold by brokers.
Freedom Mortgage to Pay $1.75 Million Penalty for Illegal Kickback Scheme
Mortgage lender conspired with Realty Connect in referral-for-gifts scheme. The Consumer Financial Protection Bureau (CFPB) has fined a mortgage lender and an associated real estate brokerage firm for a lucrative and illegal kickback scheme that sent business to the mortgage lender in exchange for lavish gifts provided to the real estate operator.
Democrats Respond to Lee's Call for Special Legislative Session
Lawmakers express frustration that gun safety is not included in session's focus. Tennessee Gov. Bill Lee this week issued an official call for a special legislative session focused on public safety. The session will begin on August 21st.
U.S. Auto Sales Finance Sued, Could Pay Millions in Consumer Refunds and Penalties
Consumer Bureau takes action against auto loan servicer. The Consumer Financial Protection Bureau (CFPB) is suing U.S. Auto Sales Finance (USASF) after an investigation found the company engaged in a range of illegal activity, including wrongfully disabling vehicles and withholding millions of dollars in refunds owed to customers.
Report Highlights Chicago's Racial Home Ownership Gap, Offers Solutions
Woodstock Institute calls on lenders to take action on policy recommendations. A new report released by the Woodstock Institute highlights a clear racial homeownership gap and offers policy recommendations the Institute says will help close that gap.
Report Highlights Unfair, Deceptive Practices in Consumer Lending
Auto lenders, payday loans, and medical debt carry significant consumer risk. The Consumer Financial Protection Bureau (CFPB) released a report highlighting risks consumers face in the financial marketplace. That report called out several areas of significant risk, including auto loans, payday loans, and medical debt.
Tennessee Teachers Call for "Fact-Based" Education, Challenge State's Prohibited Concepts Law
Tennessee Education Association, five teachers file suit against state alleging law on prohibited concepts is unconstitutional. The Tennessee Education Association (TEA) and five Tennessee public school educators have filed suit against the State of Tennessee alleging the state's prohibited concepts law is unconstitutional. The TEA says the law deprives students of a "fact-based" education and puts teachers in an impossible position as state standards may violate this law.
What's Next for Defrauded Bank of America Customers?
$100 million is headed to customers who were victims of banking giant's illegal practices. The Consumer Financial Protection Bureau (CFPB) recently announced a $250 million penalty for Bank of America as a result of the bank's deceptive and illegal practices related to overdraft fees and unauthorized opening of credit accounts.
Report: Training Repayment Loans Can Harm Workers
Consumer Bureau study highlights risks of employer-driven debt. A new report released by the Consumer Financial Protection Bureau (CFPB) indicates that workers face significant risks from employer-driven debt, such as debt incurred through Training Repayment Agreement Provisions (TRAPs). This debt can be the result of employer requirements for equipment purchases or agreements that training costs must be repaid if an employee leaves a position before a certain date.
Snap Finance Sued for Deceiving, Bullying Consumers
Lease-purchase financing company allegedly used deceptive tactics and made illegal threats to borrowers. The Consumer Financial Protection Bureau (CFPB) is suing Snap Finance for alleged illegal activity including using deceptive marketing tactics and making false threats to consumers.
Tennessee Pastors Call for Respect, Privacy for Reproductive Health
Southern Christian Coalition opposes Tennessee Attorney General's attempt to access personal medical records. A group of pastors affiliated with the Southern Christian Coalition is speaking out about Tennessee Attorney General Jonathan Skrmetti's request to gain access to the medical records of Tennessee citizens seeking reproductive healthcare outside the state.
Skrmetti Backs Effort to Defund Consumer Bureau
Tennessee's top consumer protection official joins legal effort to undermine federal consumer watchdog. Tennessee Attorney General Jonathan Skrmetti is backing an effort in support of a legal challenge that would radically change the funding provided to the Consumer Financial Protection Bureau (CFPB), the nation's top consumer watchdog agency in the financial marketplace.
Tennessee Attorney General Joins Effort to Gain Access to Reproductive Health Records
Skrmetti seeks access to information on Tennessee women seeking abortions outside the state. Tennessee Attorney General Jonathan Skrmetti joined 17 other attorneys general in sending a letter to the U.S. Department of Health and Human Services (HHS) asking that states be allowed access to medical information that may indicate a woman is seeking reproductive healthcare in another state.
Consumer Bureau Announces Cooperation with Europe on Consumer Finance Issues
International action critical in digital finance marketplace. The Consumer Financial Protection Bureau (CFPB) announced it is beginning a dialogue with its counterpart in Europe, the Commission for Justice and Consumer Protection of the European Commission on key consumer protection issues related to the digitalization of finance.
Advocate Andy
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Andy Spears is a middle Tennessee writer and policy advocate. He reports on news around public policy issues - education, health care, consumer protection, and more.
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