An FTC final rule amending the Commission's requirements for entities using information from customer reports for unsolicited credit or insurance advertising was published in the Federal Register.
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The FTC approved "largely technical changes" to five rules under the Fair Credit Reporting Act. The amendments clarify that the FCRA rules, as enforced by the FTC, apply only to motor vehicle dealers, since Dodd-Frank transferred authority for the regulation of other types of entities to the CFPB.
A FinTech company engaging in origination and servicing activities settled CFPB charges for facilitating and processing loans to consumers who did not request them.
The CFPB highlighted findings from supervisory examinations completed in 2020.
A reverse mortgage lender settled CFPB charges for sending advertisements to senior citizens that misrepresented the costs and risks associated with the lender's loans.