- 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.
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.
2025-06-26T20:22:00Z By Oscar Gonzalez
In another sign of President Donald Trump’s focus on cryptocurrency, the head of the U.S. Federal Housing Finance Agency (FHFA) ordered Fannie Mae and Freddie Mac to create proposals to consider crypto assets for a single-family home mortgage.
2025-06-24T17:21:00Z By Ruth Prickett
Four years after Brexit, the U.K. and EU announced a “reset” that will ease barriers to importing and exporting food, drink, and agricultural produce. It may also harmonize rules around carbon emissions trading systems, simplifying compliance for multinational organizations that are large emitters, and enable more young people to gain ...
2025-06-20T14:20:00Z By Oscar Gonzalez
The U.S. Senate confirmed Olivia Trusty as commissioner for the Federal Communications Commission on Tuesday, marking a shift in agency staffing that gave commissioners nominated by President Donald Trump a majority of decision-making power. The move followed resignations of two commissioners earlier this month, each of whom had been nominated ...
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