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Why it matters: For professionals in debt collection agencies, debtbuying companies, fintechs, banks, creditunions, and consumer finance firms, these findings underscore a growing vulnerability among older borrowers.
District Court for the Eastern District of Texas granted the CFPBs unopposed motion for a 90-day stay in the litigation filed by Cornerstone CreditUnion League and Consumer Data Industry Association (the Plaintiffs). More details here. In an alarming trend, we are seeing more consumer actions being brought for abandoned litigation.
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