Federal Regulators Seek to Limit Credit Card Late Fees
February 1, 2023. The Consumer Financial Protection Bureau plans to lower the amount credit card companies can charge for late fees.
Biden Extends Student Loan Payment Suspension
November 22, 2022. President Biden extended the payment pause for federal student loans while the legality of his debt cancellation program is challenged in the courts.
FHA Urges Lenders to Consider Positive Rental History When Assessing Mortgage Eligibility
October 30, 2022. In a policy change, FHA will now include a first-time homebuyer’s positive rental history when determining mortgage eligibility.
Education Department Announces Permanent Changes to the Public Service Loan Forgiveness Program
October 25, 2022. The Biden administration announced a number of permanent changes to the Public Service Loan Forgiveness (PSLF) program to make it easier for eligible borrowers to get student loan relief.
FHFA Approves Use of Alternative Credit Scores for Fannie Mae, Freddie Mac Mortgages
October 24, 2022. The federal government says lenders can use borrowers’ FICO 10T and VantageScore 4.0 credit scores when approving mortgage loans.
Appeals Court Kills the Payday Lending Rule—and Perhaps Other Consumer Protection Actions
October 19, 2022. A federal appeals court ruled that the CFPB has been unconstitutionally funded since it was created. And, in the process, the court vacated the Payday Lending Rule.
Your Rent Payments Could Help Raise Your Credit Score
October 7, 2022. If you sign up for Experian Boost, your rent payments could help improve your credit score. But should you use this service?
Fannie Mae Announces New Program to Help Renters Build Credit
September 27, 2022. Fannie Mae has launched a program to enable renters living in multifamily properties to improve their credit scores when they make on-time rent payments.
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Biden Administration Extends Student Loan Payment Suspension Until May 1, 2022
December 22, 2021. The payment suspension for most federal student loans will now last until May 1, 2022.
New Debt Collection Law Passed in New York
April 7, 2022 and May 7, 2022. A recently-passed law in New York places additional requirements on creditors and collectors that sue consumers for unpaid debts.
New Credit Reporting Rules for Debt Collectors
November 30, 2021. A new federal law prohibits a debt collector from telling a credit reporting agency about a debt before either speaking to the consumer or sending a debt validation notice and then waiting to make sure it's delivered.
New Rules for Debt Collection Notices
November 30, 2021. As of November 30, 2021, debt collection notices must give additional information and disclosures to consumers.
Significant Changes to the FDCPA in Late 2021
November 30, 2021. Starting November 30, 2021, debt collectors face new restrictions under changes to the federal Fair Debt Collection Practices Act (FDCPA).
Biden Administration Waives Student Loan Interest Retroactively for Military Servicemembers
August 20, 2021. The U.S. Department of Education has retroactively waived interest on federal student loans for more than 47,000 current and former active duty servicemembers.
CFPB Resumes Enforcement of Credit Reporting Dispute Deadlines
March 31, 2021. The Consumer Financial Protection Bureau will resume enforcing FCRA requirements on credit report disputes and rescinded the leeway it gave to the credit reporting bureaus due to the coronavirus crisis.
New CFPB Rule Clarifies When the FDCPA Applies to Debt Buyers
November 30, 2021. The CFPB has clarified when a debt buyer is considered a "debt collector" and must comply with the Fair Debt Collection Practices Act (FDCPA).
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FHFA Approves Use of Classic FICO Credit Scores for Fannie Mae, Freddie Mac Mortgages
November 10, 2020. What is the most important credit score? If you’re seeking a new conventional, conforming mortgage, it’s Classic FICO.
FICO’s New Credit Score Rates Your “Credit Resilience”
June 29, 2020. Mortgage lenders, credit card companies, and other creditors now have one more way to help them determine whether you're a safe credit risk: FICO’s Resilience Index.
Equifax Data Breach Settlement: How to Get Compensation
July 22, 2019. Find out if you’re entitled to a cash payout, free credit monitoring, or another form of compensation from Equifax.
New Law Gives Cancer Patients a Break on Federal Student Loan Payments
September 28, 2018. Federal law now allows cancer patients to stop making payments on their federal student loans temporarily.