- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2025-01-07T19:16:00
Banks and other lenders will be prohibited from using medical debt information in credit reports, under a new rule finalized by the Consumer Financial Protection Bureau (CFPB), the agency said Tuesday.
Credit reports are tally sheets that list a person’s assets and debts, and often are accompanied by an overall score, which banks and other lenders use to determine if a loan applicant is eligible for a mortgage or loan. Credit reports are created by three credit bureaus, Equifax, Experian, and TransUnion, which are private companies that make money by charging fees for the reports.
Debts, including unpaid medical bills, can weaken a person’s credit score and shut them out of loans or make it more expensive for them to borrow. Credit scores are created by mainly two companies, FICO and VantageScore.
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2025-02-12T15:20:00Z By Adrianne Appel
Enforcement and all other operations at the Consumer Financial Protection Bureau have come to a screeching halt under Trump administration directives but a pair of lawsuits aimed at keeping the agency open mean the stoppage could be short-lived.
2025-01-06T18:41:00Z By Adrianne Appel
A Berkshire Hathaway unit that is a major lender to people buying mobile homes intentionally failed to qualify borrowers, the Consumer Financial Protection Bureau alleged in a complaint. As a result, many families ultimately lost their homes and sank into debt, echoing a series of events that helped power the ...
2024-11-21T18:30:00Z By Adrianne Appel
Big Tech digital payment apps will be subjected to increased oversight and requirements–similar to that of banks and credit unions–under a finalized rule by the Consumer Financial Protection Bureau.
2025-05-21T14:11:00Z By Aaron Nicodemus
Securities and Exchange Commission Chair Paul Atkins indicated he favors changing the agency’s requirement that only the wealthy can invest in so-called “closed-end” private equity funds and hedge funds.
2025-05-19T14:33:00Z By Adrianne Appel
The Department of Justice (DOJ) has shuttered a special Federal Bureau of Investigation (FBI) unit that focused on public corruption and whose legwork led to the special counsel investigation of President Donald Trump for trying to overturn the 2020 election results.
2025-05-19T14:09:00Z By Aaron Nicodemus
The Trump administration is preparing to ask the European Union to alter or water down its rules on content moderation on social media, claiming that they hurt the competitiveness of American technology companies.
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