Sun.Dec 22, 2024

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CFPB Sues Walmart and Branch Messenger for Illegally Opening Deposit Accounts for More Than One Million Delivery Drivers

Consumer Finance

Today, the CFPB sued Walmart and Branch Messenger for forcing delivery drivers to use costly deposit accounts to get paid and for deceiving workers last mile drivers in Walmarts Spark Driver programabout how they could access their earnings.

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US’ credit score hangover hitting riskiest borrowers. Are there more troubles ahead?

Collection Industry News

For a score with a range between 300 and 850, a credit score of 670 to 739 is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750. In 2023, the average FICO score in the U.S. reached 715, according to Experian. The credit scores of Americans’ skyrocketed during the Covid pandemic in an unexpected benefit of the upheaval.

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CFPB Files Lawsuit to Stop Illegal Kickback Scheme to Steer Borrowers to Rocket Mortgage

Consumer Finance

The CFPB sued Rocket Homes to stop providing incentives to real estate brokers and agents in exchange for steering homebuyers to Rocket Mortgage for loans.

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