Current Industry News
Virginia Legislative Updates Impacting Collection Agencies: A Closer Look
Virginia’s legislative session resumed this week, representing an important moment for collection agencies as they navigate amendments proposed by Governor Glenn Youngkin. One of the significant changes under scrutiny is the reevaluation of HB 34 concerning the statute of limitations for medical debt.
California Attorney General Warns California-Chartered Banks and Credit Unions On Surprise Overdraft Fees and Returned Deposited Item Fees
On February 20, 2024, California Attorney General Rob Bonta issued a letter warning California-chartered banks and credit unions with assets under $10 billion that charging surprise overdraft fees and returned deposited item fees is likely an unfair business practice that violates California’s Unfair Competition Law (UCL), Bus. & Prof. Code, § 17200 et seq., and the federal Consumer Financial Protection Act (CFPA), 15 U.S.C., § 5536.