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Advocate Andy
Car Dealer Fined $2.6M for Price Deception and Discrimination
Tempe-based car dealer added on unauthorized fees, charged Latino customers more. The Federal Trade Commission (FTC) and the Attorney General of Arizona have reached a settlement with Tempe-based car dealer Coulter Motor Company as a result of the dealership's use of deceptive pricing and unauthorized fees.
5 Million Consumers Deceived in Rent-to-Own Lending Scheme
Rent-a-Center affiliate charged with deception, illegal lending. A consumer finance company affiliated with Rent-A-Center is facing charges that it misled or deceived as many as 5 million of its customers and that it engaged in illegal lending practices.
Protect Whistleblowers: Consumer Bureau Limits Nondisclosure Agreements
Guidance would change scope of nondisclosure agreements. A key federal regulator is taking steps to protect whistleblowers in the financial industry by issuing guidance to change the scope of nondisclosure agreements.
Budget Shortfall Looms as Tennessee Struggles
State struggling to meet budget goals as fiscal year-end approaches. The State of Tennessee is running behind budget estimates as the end of its fiscal year approaches. In data released to the media, the Department of Finance and Administration noted that revenues for May of 2024 were $29.2 million short of budgeted estimates. The state also reported revenue below estimates for April of this year.
New Rule Ensures Transparency for Wage Advances
New rule offers protections for "earned wage" payday advances. An earned wage advance can allow a worker to access a portion of their paycheck before payday to cover unexpected expenses or better manage cash flow. These products are often cheaper than a payday loan, but do carry fees and risks for those taking the loans.
SoLo Funds Fined $200,000 for Illegal Lending in Pennsylvania
Fintech lender also ordered to stop collections on more than $500,000 of loans. An app-based lender advertising brokered short-term loans with no fees or interest rates now must pay a total of nearly $1 million for illegal lending activity in Pennsylvania.
Fifth Third Bank Fined $20 Million in Fake Account Scandal
Bank also engaged in fraudulent auto lending practices. Fifth Third Bank will pay $20 million in penalties after an investigation found the company's employees had opened fake accounts in customer's names and engaged in dishonest auto lending.
County Commission to Select New District 3 School Board Member
Legislative body meets tonight to choose candidate to fill vacancy. The Williamson County Commission will meet tonight at 7PM and one of the agenda items is the selection of a replacement school board member in District 3.
OPINION: TN Pastors Issue Condemnation of State's Anti-Immigrant Policy
Advocacy group claims some state policies are harmful. A group of Tennessee pastors affiliated with the Southern Christian Coalition says Tennessee state law and some policies represent a pattern of discrimination against immigrant communities.
Consumer Harms: Regulator Exposes Illegal Practices by Debt Collectors
Regulator calls out debt collectors, loan servicers for illegal, harmful practices. Loan servicers and debt collectors routinely engage in harmful, deceptive, or illegal practices, according to a new report by a key federal regulator.
AI's Impact on Home Appraisals: New Rule Ensures Accountability
New federal rule calls for accountability from appraisers using AI. Artificial Intelligence (AI) is here and is changing the landscape across a range of consumer finance interactions, and that includes the home buying process.
Pastors Speak Out for Voting Rights
Advocacy group decries voter intimidation from Secretary of State. A group of Tennessee pastors is speaking out against the Secretary of State's office after the state election regulator sent letters requesting proof of citizenship to 14,000 naturalized citizens registered to vote in the state.
Tennessee Doctors Expose Harms of Abortion Law
Advocacy group points out harms of state law restricting abortion. A group of Tennessee physicians affiliated with the health policy advocacy group Protect My Care says the state's restrictive abortion law, triggered by the U.S. Supreme Court decision in Dobbs v. Jackson Womens Health, is harming women.
Online Lending Scammer Fined $7M, Concealed Funds
James and Melissa Carnes hid money to avoid paying millions in court fines. The operator of a now-defunct online lender that scammed consumers out of nearly $40 million is accused of using banking tricks in an attempt to avoid paying his fines.
Removing Medical Debt from Credit Reports: $49B in Collections to Disappear
CFPB announces plan to remove medical debt from credit reports. $49 billion of debt in collections could soon disappear from credit reports, thanks to a rule proposed by the Consumer Financial Protection Bureau (CFPB).
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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