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Monthly Archives: October 2021
SBA Overpaid $4.5 Billion on ‘Illogical’ Small Business Grant Claims
An emergency relief program hastily rolled out in the early days of the pandemic had such poor fraud protections that it improperly doled out nearly $4.5 billion to self-employed people who said they had additional workers — even those who … Continue reading
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Zillow Says It Can’t Buy Any More Homes This Year
Real-estate company Zillow Group Inc. said that it will stop buying and flipping new houses for the remainder of this year. The online home-listing platform, which got into the business of buying, refurbishing and quickly selling homes more than three … Continue reading
Wells Fargo to Pay $37.3 Million to Settle U.S. Claims It Fraudulently Overcharged Customers
Wells Fargo & Co. will pay $37.3 million to settle U.S. government claims it fraudulently overcharged commercial clients on foreign exchange services, the latest in a string of scandals over the bank’s treatment of customers. Yesterday’s settlement resolves U.S. Department … Continue reading
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Consumer Financial Protection Bureau issues final rule to implement the Fair Debt Collection Practices Act
The Consumer Financial Protection Bureau (Bureau) issued a final rule to restate and clarify prohibitions on harassment and abuse, false or misleading representations, and unfair practices by debt collectors when collecting consumer debt. The rule focuses on debt collection communications … Continue reading
Posted in Debt, General
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CFPB Takes Action Against American Advisors Group for Deceptively Marketing Reverse Mortgages to Consumers
The Consumer Financial Protection Bureau (CFPB) filed a complaint and proposed consent order alleging that American Advisors Group (AAG) used inflated and deceptive home estimates to lure consumers into taking out reverse mortgages, according to a CFPB press release. The … Continue reading
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Navient, with 6 Million Borrowers, Asks to Stop Servicing Federal Student Loans
A second major federal student loan servicer is calling it quits, a decision that will force the Education Department to transfer the accounts of millions of borrowers just as the government begins to resume collecting payments early next year. Navient … Continue reading
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Missouri teachers’ Social Security numbers at risk on state agency’s website
The Social Security numbers of school teachers, administrators and counselors across Missouri were vulnerable to public exposure due to flaws on a website maintained by the state’s Department of Elementary and Secondary Education. The Post-Dispatch discovered the vulnerability in a … Continue reading
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Most taxpayers who requested an extension to file their 2021 tax return must file by Oct. 15
October 15 is the filing extension deadline. Most taxpayers who requested an extension of time to file their 2020 tax return must file tomorrow to avoid the penalty for filing late. Extension filers who owe taxes should pay as much … Continue reading
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Americans Quit Their Jobs at a Record Pace in August
The Labor Department said yesterday that Americans quitting their jobs jumped to 4.3 million in August, the highest on records dating back to December 2000, and up from 4 million in July. That’s equivalent to nearly 3% of the workforce. … Continue reading
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Consumers Weren’t Discharged Under Section 1141(d)(6)(A)
Reversing the bankruptcy court while expounding and expanding on the Supreme Court’s Cohen decision, District Judge Paul A. Engelmayer of New York ruled that a civil penalty imposed by the Federal Communications Commission for defrauding consumers is not discharged in … Continue reading
Posted in Bankruptcy, General
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