CFPB Issue Spotlight Analyzes “Artificial Intelligence” Chatbots in Banking -
"Poorly deployed chatbots can impede customers from resolving problems."
Why this is important: The Consumer Financial Protection Bureau...more
7/11/2023
/ Artificial Intelligence ,
Automotive Loans ,
Banking Sector ,
Borrowers ,
Bots ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit Cards ,
Credit Reports ,
Customer Service Standard ,
Debt Collection ,
Delinquency Status ,
Fair Credit Billing Act (FCBA) ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Financial Institutions ,
Financial Services Industry ,
Landlords ,
Tenants
There are a variety of ways in which accounts, or debts, are collected. However, aging technology and legacy servicing (collection) infrastructure restricts a lender’s ability to leverage automation and technology. Without...more
Student Loans -
Supreme Court Likely to Rule that Biden Student Loan Plan is Illegal, Experts Say. Here’s What that Means for Borrowers -
“Long before the president acted, Republicans had criticized student loan...more
12/14/2022
/ Automotive Loans ,
Borrowers ,
Commercial Bankruptcy ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Breach ,
Data Protection ,
Data Security ,
Debt Collection ,
Delinquent Borrowers ,
Department of Education ,
Educational Institutions ,
Financial Services Industry ,
Joe Biden ,
Landlords ,
Loan Forgiveness ,
No Surprises Act (NSA) ,
Phishing Scams ,
Student Loans ,
Surprise Medical Bills ,
TCPA ,
Tenants ,
Text Messages
Welcome to our first formal edition of All Consuming - our e-newsletter devoted to financial litigation insights. Our goal is to bring you the most up-to-date information that allows you to be proactive in your...more
Consumers in West Virginia have found a new subject on which to file lawsuits. Within the past couple of years, litigation over reverse mortgages has become a bigger part of consumer lending litigation in West Virginia....more
10/19/2018
/ Borrowers ,
Business Litigation ,
Consumer Credit Protection ,
Enabling Laws ,
Inducements ,
Lenders ,
Mortgage Brokers ,
Mortgage Lenders ,
Mortgage Servicers ,
Rescission ,
Reverse Mortgages ,
Truth in Lending Act (TILA) ,
Unconscionable Contracts
A recent decision of the Supreme Court of the United States may make it easier for borrowers to claim discrimination when denied a loan. In late June 2015, the Court addressed whether lawsuits brought under the Fair Housing...more