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Advocate Andy
NetCredit, CashNetUSA Fined $15M for Consumer Deception
The parent company of nonbank online lenders CashNetUSA and NetCredit has been fined $15 million and ordered to cease certain business activities. Enova was penalized by the Consumer Financial Protection Bureau (CFPB) for illegally debiting consumer accounts and for other deceptive activity. Additionally, the CFPB noted that the company violated a 2019 enforcement order and now therefore must cease offering some types of short-term loans.
End of Illinois School Voucher Program Cheered
A coalition of public education advocates are cheering the end of a school voucher plan in Illinois. Illinois lawmakers recently adjourned without extending funding for the 2017 Invest in Kids Act, a school voucher plan that provided tax credits for individuals contributing to a school voucher scholarship program. This means the provisions of the existing law will begin to end in January of 2024.
Pastors, Parents Oppose Rejection of Education Funds
Group says federal funding helps kids across the state. A group of Tennessee pastors and parents held a press conference highlighting the importance of federal funding for public schools. The group said it opposes a proposal by House Speaker Cameron Sexton to reject the $1.8 billion the state receives from the federal government to support various school-based programs.
Citi Fined $25.9 Million for Discrimination
Company illegally denied credit to Armenian Americans. For a period of six years, Citi singled out consumers it suspected of being of Armenian descent for illegal discrimination, including denying them access to Citi's credit card products.
Regulating Digital Finance: CFPB Calls for New Rules
Federal regulator proposes additional oversight for nonbank financial tools. Nonbank providers of digital financial services - such as digital wallets and payment apps - may soon be subject to the same oversight and scrutiny as banks and credit unions.
TN Pastors: Fund Schools Now!
Advocacy group calls on state leaders to accept $1.8 billion in federal funds for schools. A group of Tennessee pastors affiliated with the Southern Christian Coalitionis calling on state policymakers to continue accepting federal funding for the state's schools.
Brigit Fined $18M for Deceiving Customers
Personal finance app Brigit will pay $18 million in refunds to consumers as a result of a settlement with the Federal Trade Commission (FTC). The FTC determined that Brigit deceived consumers by promising cash advances of up to $250 and then locking them into a subscription service that they couldn't cancel.
Johnson Accused of Prioritizing Predatory Lending over Consumers
Advocacy group highlights Johnson's anti-consumer past. A national consumer advocacy group is warning that newly-elected House Speaker Mike Johnson holds anti-consumer views. Accountable.US says Johnson's past actions indicate he is a friend of the payday lending industry. The group suggests that if Johnson is driving policy, consumers will suffer.
Report: 316,000 Tennesseans Could Gain Health Insurance with Medicaid Expansion
A report released by the Robert Wood Johnson Foundation suggests that if Tennessee expanded its Medicaid program as allowed under the Affordable Care Act, some 316,000 Tennesseans would gain access to health coverage.
TN Pastors Warn of Speaker Johnson's Christian Nationalism
Advocacy group warns about Johnson's Christian Nationalism. A group of Tennessee pastors affiliated with the Southern Christian Coalition is speaking out about the new Speaker of the House Mike Johnson. The group is warning that Johnson is a "Christian Nationalist" and says the philosophy is dangerous for democracy.
Consumer Group Chastises Congress Over Junk Fees
Advocates say credit card late fees harm consumers, pad company profits. A consumer advocacy group is responding to news that Americans paid $130 billion in credit card interest and fees last year. The group, Accountable.us, says excessive late fees assessed by credit card companies harm the consumers least able to pay while padding company profits.
Report: Consumers Paid $130 Billion in Credit Card Interest and Fees in 2022
A new report reveals that Americans paid a total of $130 billion in interest and fees on credit cards in 2022. The report, issued by the Consumer Financial Protection Bureau (CFPB) also showed total credit card debt surpassed $1 trillion for the first time.
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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