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EFTA does not prohibit banks from charging stop-payment fees
The EFTA grants consumers the right to stop recurring electronic fund transfers but does not prohibit banks from charging fees to stop payments, even if the fee charged exceeds the cost of processing...
No TILA right of rescission where consumer obtained loan to reacquire property
The loan was a residential mortgage transaction under TILA because the consumer had no existing ownership in the property; he obtained the loan to reacquire the property from his ex-wife by paying...
FHFA releases final rule on credit score models
A Federal Housing Finance Agency final rule sets out a four-phase process for the Enterprises to validate and approve credit score models. A validated and approved credit score model must be used if...
Envelope printed with unencrypted QR code with debtor’s account number violates FDCPA
A debt collector violated the FDCPA when it sent to a debtor an envelope displaying an unencrypted QR code that, when scanned, revealed the debtor’s account number.
FDCPA claim fails for lack of evidence that debt was consumer debt
Although a consumer was not prohibited from bringing an FDCPA claim where the underlying debt was not his, he failed to demonstrate that the debt in question was a consumer debt covered by FDCPA...