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☆ TransUnion settles with the FTC, CFPB for $23 million for impeding tenants' ability to obtain housing
▼ + stars: | 2023-10-12 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

"Americans across the country were put at risk of wrongful housing denials because TransUnion failed to follow the law," Consumer Financial Protection Bureau Director Rohit Chopra said. "We are ordering TransUnion to cease its yearslong illegal activity, clean up its broken business practices, redress its victims, and pay penalties." Under the proposed order, which is pending approval by a federal court, $11 million of a $15 million settlement will compensate consumers and $4 million will go to the CFPB's civil penalty fund. The firm also said it has worked with the CFPB and FTC over the past year "to enhance our rental-screening reporting practices, including making certain changes to how eviction records are reported." The CFPB and FTC further argued that tenants who can't access vendors that keep criminal and eviction records face challenges in correcting inaccurate background data.

Persons: TransUnion, Rohit Chopra, CFPB, TURSS, Samuel Levine Organizations: San Francisco , California ., San Francisco , California . WASHINGTON —, Trans, Financial, Federal Trade Commission, Inc, CNBC, Consumers, Consumer Protection Locations: San Francisco , California, San Francisco , California . WASHINGTON, Colorado, FTC's

☆ Afghanistan coach Trott sees progress despite second World Cup defeat
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

Trott said it was a brave decision to bat first but admitted they were well short on a "350-360 wicket". Trott said his players would have benefited from having the match at the same venue where they play defending champions England on Sunday. Afghanistan are playing at their third World Cup and have now lost 16 of their 17 matches, their only victory coming against Scotland in 2015. "Azmat played really well, stepping up to number five and showing the talent and the pedigree that he's got as an all-rounder," Trott said. "So those are the things we're looking to get right going forward and get ready for England."

Persons: Arun Jaitley, India's Virat Kohli, Shreyas Iyer, Anushree, Jonathan Trott, Rohit Sharma, Trott, " Trott, Hashmatullah Shahidi, Azmatullah Omarzai, Azmat, he's, Rohith Nair, Peter Rutherford Organizations: Cricket, ICC Cricket, REUTERS, England, Scotland, Thomson Locations: India, Afghanistan, New Delhi, DELHI, Delhi, Bangladesh, England, Bengaluru

☆ US Senator Warren concerned Exxon's plan to buy Pioneer will raise costs
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

Senator Elizabeth Warren, a Democrat on the Senate Banking panel, said on Wednesday she was concerned that Exxon Mobil's (XOM.N) agreement to buy U.S. rival Pioneer Natural Resources (PXD.N) would raise costs and should be probed by regulators. "Oil company profiteering hits American consumers right in the wallet — and I’m concerned that Exxon’s massive acquisition will reduce competition and drive up costs. Regulators should closely scrutinize this big oil merger," Warren said. The deal, valued at $59.5 billion, combines the largest U.S. oil company with one of the most successful names to emerge from the shale revolution that turned the U.S. into the world's largest oil producer in little more than a decade. Reporting by Diane Bartz; writing by Susan Heavey and Costas Pitas; Editing by Caitlin WebberOur Standards: The Thomson Reuters Trust Principles.

Persons: Sen, Elizabeth Warren, Rohit Chopra, Exxon Mobil's, Warren, Diane Bartz, Susan Heavey, Costas Pitas, Caitlin Webber Organizations: . Consumer Financial Protection Bureau, Banking, Housing, Urban Affairs, Consumer, Democrat, Exxon, Natural Resources, Oil, Thomson Locations: Washington , U.S, WASHINGTON, U.S

☆ White House announces new efforts to crack down on 'tens of billions' in junk fees
▼ + stars: | 2023-10-11 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — The White House on Wednesday will announce new initiatives to rein in tens of billions worth of surcharges tied to goods and services, or "junk" fees, in partnership with two of the nation's leading consumer-protection agencies. "When people request basic information about their accounts, big banks cannot charge them massive fees or trap them in endless customer service loops," Chopra told reporters on Tuesday. "Charging a competitive price for a legitimate service makes sense but charging junk fees for basic customer responsiveness doesn't. Both the FTC and the CFPB have taken preliminary actions toward cracking down on junk fees over the past few months. Earlier this year, the CFPB released a rule proposal on excessive credit card fees, while the FTC began targeting unfair practices in ticketing and other fees in late 2022.

Persons: Joe Biden, WASHINGTON —, surcharges, Lael Brainard, Lina Khan, Rohit Chopra, Khan, Chopra, Wells Organizations: WASHINGTON, National Economic Council, Federal Trade, Consumer Financial, Bank of America, Regions Bank, Information, Regulatory Affairs, NEC, of Economic Advisers, FTC Locations: Israel, Washington , DC

☆ Businesses are returning $140 million in surprise overdraft fees to consumers, according to a CFPB report
▼ + stars: | 2023-10-11 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — The nation's federal consumer protection watchdog announced Wednesday that companies will refund $140 million to customers as a result of its work to uncover illegal so-called junk fees. "The [Consumer Financial Protection Bureau] continues to uncover junk fee scams that violate the law and undermine consumer trust," CFPB Director Rohit Chopra said in a statement. The bureau on Wednesday released a report of supervisory highlights in tandem with the Biden administration's newly announced policies targeting junk fees across industries. Financial institutions that hit customers with surprise overdraft and NSF fees account for $120 million of the $140 million that companies will reportedly refund to consumers following the March edition of the report, the CFPB found. Nearly two-thirds of banks with more than $10 billion in assets have also eliminated NSF fees, saving customers nearly $2 billion a year, according to a separate report released Wednesday.

Persons: WASHINGTON, Rohit Chopra, overdraft Organizations: Consumer Financial, Biden

☆ Net run-rate concern not a factor, says India's Bumrah
▼ + stars: | 2023-10-11 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +2 min

Net run-rate could come into play later in the tournament, but Bumrah denied it was a factor in India's performance against Afghanistan. (Besides) we did not know that Rohit will give us such a headstart," Bumrah told reporters. Bumrah claimed figures of 4-39 to help restrict Afghanistan to 272-8. Just because I've taken four wickets that doesn't mean I'm very, very happy or I've done something extraordinary," he said. Reporting by Amlan Chakraborty in New Delhi; editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

Persons: Arun Jaitley, Pandya, Afghanistan's Mohammad Nabi, Jasprit Bumrah, Anushree, Rohit Sharma, Bumrah, Rohit, I'm, I've, Amlan Chakraborty, Ed Osmond Organizations: Cricket, ICC Cricket, Jasprit Bumrah REUTERS, Arun, Afghanistan, Thomson Locations: India, Afghanistan, New Delhi, DELHI, New Zealand, Pakistan, Ahmedabad

☆ Rohit flattens Afghanistan as India romp to second win
▼ + stars: | 2023-10-11 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +3 min

[1/9] Cricket - ICC Cricket World Cup 2023 - India v Afghanistan - Arun Jaitley Stadium, New Delhi, India - October 11, 2023 India's Rohit Sharma in action as he hits four runs REUTERS/Anushree Fadnavis Acquire Licensing RightsNEW DELHI, Oct 11 (Reuters) - World Cup hosts India cantered to their second successive win of the tournament after captain Rohit Sharma's incendiary century set up their eight-wicket thrashing of Afghanistan on Wednesday. Electing to bat, Afghanistan were 63-3 in the 14th over before skipper Hashmatullah Shahidi (80) and Azmatullah Omarzai (62) combined in a 121-run stand to frustrate India. Rohit became the first batter to smash five hundreds in a single World Cup in the tournament's previous edition in England and Wales four years ago. Rohit treated Rashid with disdain, hitting him for back-to-back fours and following it with a six, but the spinner eventually had his revenge. Rohit lost his stumps to Rashid attempting a slog-sweep but Kohli stayed put to guide India home.

Persons: Arun Jaitley, India's Rohit Sharma, Anushree, India cantered, Rohit, Virat Kohli, Hashmatullah Shahidi, Azmatullah Omarzai, Hashmatullah, Jasprit Bumrah, Ibrahim Zadran, Mohammed Siraj, Bumrah, Rahmanullah Gurbaz, Rahmat Shah, Omarzai, Pandya, Kuldeep Yadav, Fazalhaq Farooqi, Rashid Khan, Mohammad Nabi, Rashid, Ishan Kishan, Kohli, Amlan Chakraborty, Christian Radnedge, Ed Osmond Organizations: Cricket, ICC Cricket, India, Arun, India's, Wales, Thomson Locations: India, Afghanistan, New Delhi, DELHI, Saturday's, Pakistan, Ahmedabad, England

☆ The Biden administration wants to completely ban the hidden fees that make your plane and concert tickets unexpectedly expensive
▼ + stars: | 2023-10-11 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The FTC proposed a rule on Wednesday that would ban all hidden and misleading fees. Businesses who use hidden fees might have to give consumers refunds, per the rule. AdvertisementAdvertisementThe Biden administration has been trying to crack down on the hidden fees that pop up when you try to book a plane or a concert ticket or even just order food — and now wants to outright ban them. Those junk fees "plague" Americans across all sorts of transactions. The CFPB's Wednesday guidance clarified that provision to ensure every American knows they do not need to pay junk fees to get basic information from their bank.

Persons: —, Biden, Lina Khan, Khan, that's, Vicki Morwitz, Morwitz, Rohit Chopra, Lael Brainard Organizations: FTC, Service, Federal Trade Commission, Columbia Business School, Consumer Financial, —, Economic Locations: America, United States

☆ India back Iyer at four despite Chennai duck
▼ + stars: | 2023-10-10 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +2 min

Iyer returned from a back injury recently to reclaim his number four position and scored a three-ball duck in Sunday's opener against Australia. Chasing 200 for victory, India were in trouble after both openers -- Ishan Kishan and skipper Rohit Sharma -- had fallen before they could open their account. Former India stalwart Yuvraj Singh was aghast at Iyer's casual drive that David Warner pouched at short cover. Number five Rahul made an unbeaten 97 to secure India's victory after forging a match-winning partnership with Virat Kohli in Chennai. He understands the moment, that was the reason he has been in the team," Rathour said.

Persons: India's Shreyas Iyer, Australia's Mitchell Starc, Mohammed Siraj REUTERS, Adnan Abidi, KL Rahul, Vikram Rathour, Iyer, Kishan, Rohit Sharma, Yuvraj Singh, David Warner pouched, Yuvraj, India's, Rahul, Virat Kohli, Rathour, Shreyas, Shubman Gill, Amlan Chakraborty, Ed Osmond Organizations: Cricket, ICC Cricket, Chidambaram, KL, Afghanistan, Australia, Thomson Locations: India, Australia, Chennai, DELHI, New Delhi

☆ The cost of homeownership spiraled upwards last year. Here’s what happened
▼ + stars: | 2023-10-10 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

“These trends are likely to continue, given further increases in interest rates in 2023.”What’s going onWhile the Fed doesn’t directly set mortgage rates, what it does with its benchmark lending rate influences mortgage rates — and they were hit hard last year. As mortgage rates rose, more buyers began purchasing discount points as a way to “buy down” a rate. Typically, each point is equal to 1% of the borrower’s mortgage cost. A borrower with a $400,000 loan could, for example, buy down a 7.5% mortgage rate to 7.25% for $4,000. By reducing the mortgage rate upfront, the monthly costs are lower going forward and will be smaller for the life of the loan.

Persons: ”, Rohit Chopra, ” What’s, — Organizations: DC CNN, Consumer Financial, Federal Reserve Locations: Washington, White

☆ India's Gill to miss Afghanistan match
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +1 min

Cricket - First One Day International - India v Australia - Wankhede Stadium, Mumbai, India - March 17, 2023 India's Shubman Gill in action REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsOct 9 (Reuters) - Shubman Gill will miss India's World Cup meeting with Afghanistan, the country's cricket board (BCCI) said on Monday, as the in-form opener continues his recovery from dengue fever. "India batter Shubman Gill will not be travelling with the team to Delhi on Oct. 9, 2023," the BCCI said in a statement. "He will stay back in Chennai and will be under the supervision of the medical team." In India's win over Australia, Gill was replaced by Ishan Kishan, who is likely to once again open alongside Rohit against Afghanistan in New Delhi on Wednesday. Reporting by Aadi Nair in Bengaluru Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Shubman Gill, Francis Mascarenhas, Gill, Rohit Sharma, Ishan Kishan, Rohit, Aadi Nair, Christian Radnedge Organizations: Wankhede, BCCI, Australia, Thomson Locations: India, Australia, Mumbai, Afghanistan, Delhi, Chennai, New Delhi, Bengaluru

☆ US consumer watchdog warns payment systems risk Chinese-style surveillance
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

Signage is seen at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C., U.S., May 14, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies Consumer Financial Protection Bureau FollowOct 6 (Reuters) - The top U.S. agency for consumer financial protection is considering regulatory moves to help protect the public from the kind of excessive surveillance of their financial data enabled by payment structures in China, its director said on Friday. This will involve ordering some large U.S. tech firms to provide information on their use of personal data and private currencies, Rohit Chopra, director of the U.S. Consumer Financial Protection Bureau (CFPB), said in a speech. "It's critically important for American consumers to have stronger protections against excessive surveillance and misuse of our data," Chopra said in a speech at the Brookings Institution in Washington. The Consumer Financial Protection Bureau's "open banking" proposal is expected to give consumers the ability to switch service providers more easily and control how financial tech service providers collect consumer data.

Persons: Andrew Kelly, Rohit Chopra, Chopra, Chopra's, Douglas Gillison, Chizu Nomiyama, Bill Berkrot Organizations: Consumer Financial Protection Bureau, Washington , D.C, REUTERS, Consumer Financial, U.S, U.S . Consumer Financial Protection Bureau, Brookings Institution, Consumer, Thomson Locations: Washington ,, China, Washington

☆ New York's floods weren't a one-off — here's how the city is preparing for the future
▼ + stars: | 2023-10-04 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

The same idea could be applied to create cloudburst gardens. Source: New York City Department of Environmental ProtectionNew York City environmental agencies are also working on installing rain gardens. Roughly 12,000 rain gardens have already been installed in New York City sidewalks, according to Aggarwala. Rain gardens line a sidewalk in Queens, NY. Source: NYC WaterAlong with extreme rainstorms, the climate chief is equally or more concerned about the threat of extreme heat, which causes more fatalities in the city rainfall.

Persons: Fatih Aktas, Rohit Aggarwala, today's, Winters, Hurricane Henri, Hurricane Ida, Nelson Vaz, Marc Wouters, Eric Adams, Aggarwala, Kathy Hochul Organizations: Anadolu Agency, Getty, New, York, CNBC, Hurricane, National Weather Service, Bronx and, New York City Department of Environmental Locations: Williamsburg , New York, United States, New York, York City, York, Miami, Jamaica, Queens , NY, Queens, Bronx, Bronx and Brooklyn, New York City, Staten Island, Staten, New, Yorker

☆ Supreme Court case may gut the CFPB: Consumer watchdog's ‘future is on the line,’ group says
▼ + stars: | 2023-10-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Visitors walk across the U.S. Supreme Court plaza on the first day of the court's new session on Oct. 2, 2023. Bill Clark | Cq-roll Call, Inc. | Getty ImagesWhy the CFPB's funding may be unconstitutionalThe Consumer Financial Protection Bureau headquarters in Washington. Lawmakers created the federal agency to protect consumers from predatory financial practices. The Supreme Court ruled against the agency in a 2020 case, Seila Law v. CFPB, finding part of its structure to be unconstitutional but ultimately keeping the agency intact. Instead, the CFPB's funding isn't authorized by Congress each year.

Persons: Bill Clark, Washington . Samuel Corum, Dodd, Frank, —, John Coleman, Orrick, Coleman, Rohit Chopra, Tom Williams Organizations: U.S, Supreme, Cq, Inc, Getty, Financial, Bloomberg, Lawmakers, U.S ., Appeals, Circuit, Congress, Federal Reserve, 5th Circuit, Congressional Research Service, Mortgage Bankers Association, National Association of Home Builders, National Association of Realtors Locations: Washington .

☆ Inside Project Nile: Amazon's secret AI-powered plan to change the way you shop online.
▼ + stars: | 2023-10-02 | by ( Eugene Kim | ) www.businessinsider.com time to read: +10 min

"Project Nile is a confidential initiative wherein we're building a conversational shopping agent for Retail customers," one internal document explained. Wearing that "I love AI" t-shirt, Sirosh, VP of Amazon Search and Alexa Shopping, introduced Project Nile as a "super confidential" project. Project Nile isn't the only move Amazon has made in the popular generative AI space. For Amazon's retail side, Project Nile is one of the most important projects. Sirosh has told his team he's "staffing up very rapidly" as Project Nile is the "absolute top priority."

Persons: Joseph Sirosh, Sirosh, Stephen Lam, It's, they're, Andy Jassy, Doug Herrington, Jassy, Rohit Prasad, ChatGPT, Microsoft's Bing, Google's Bard Organizations: Amazon, Microsoft, Retail, Amazon Search, Alexa, Nile, ChatGPT, Google Locations: Anthropic, OpenAI

☆ India out to end decade of hurt at home World Cup
▼ + stars: | 2023-10-01 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +3 min

India won the Asia Cup last month, beating former world champions Pakistan and Sri Lanka at the tournament, and have all their frontline players available after welcoming back Jasprit Bumrah, KL Rahul and Shreyas Iyer from injury. Rohit has spoken frequently about his desire to win a global title and even as firecrackers were going off in Colombo after the Asia Cup final the opener told fans to put their celebrations on hold until they win the World Cup. HOME ADVANTAGEHome comforts could prove crucial at the World Cup. Kohli may not get another chance to win the World Cup as he will be almost 39 by the time the next edition rolls in 2027. Perched on his team mates' shoulders on a victory lap of the world's largest cricket stadium after the Oct. 19 final would be a fitting World Cup farewell for another Indian batting great.

Persons: Rohit Sharma, Shreyas Iyer, Rohit, Shubman Gill, Virat Kohli, Ishan Kishan, Suryakumar Yadav, Bumrah, wristspinner, Pandya, Kohli, Mahendra Singh, Sachin Tendulkar, Amlan Chakraborty, Peter Rutherford Organizations: India, Asia, Pakistan, Australia, Thomson Locations: DELHI, India, Sri Lanka, Colombo, Mumbai, New Delhi

☆ Here are Roth MKM's top buy ideas for the fourth quarter
▼ + stars: | 2023-09-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Roth MKM is offering up its top picks for the fourth quarter as the final three-month stretch of 2023 approaches. Quarter to date, the Nasdaq Composite is off by more than 5%, lagging the S & P 500 and the Dow Jones Industrial Average . As 2023 nears an end, here are some of Roth MKM's top picks for the fourth quarter: Shopify is one of the names the investment firm is betting on for the period. Roth MKM is also betting on Uber Technologies in the fourth quarter, which should benefit over time from improving advertising and subscriptions that should improve profitability, according to analyst Rohit Kulkarni. According to the firm, Verano shares look significantly undervalued and should get a lift from easing federal regulations and new U.S. adult-use states.

Persons: Roth, Darren Aftahi, Roth MKM, Rohit Kulkarni, Scott Fortune, Molson Coors, — CNBC's Michael Bloom Organizations: Federal Reserve, Nasdaq, Dow Jones, Amazon Prime, Uber Technologies, Verano Holdings, Coors, Molson Locations: FCF

☆ Mongolian cricket takes step back as records tumble in loss to Nepal
▼ + stars: | 2023-09-27 | by ( Ian Ransom | ) www.reuters.com time to read: +1 min

HANGZHOU, China, Sept 27 (Reuters) - The windswept nation of Mongolia has rarely been known for cricket but now has a place in the record books after suffering the biggest defeat in T20 internationals through a 273-run hiding by Nepal at the Asian Games on Wednesday. His batting partner Dipendra Singh Airee also came off with the record for the fastest fifty in T20 internationals, reaching the milestone in nine balls in his unbeaten 52 which included eight sixes. Mongolia were dismissed for 41, the biggest contribution from 23 extras, including 16 wides by the Nepali bowlers. The north Asians will have a chance to atone when they play the Maldives in their second match on Thursday. Reporting by Ian Ransom; Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Kushal Malla, strode, South Africa's David Miller, India's Rohit Sharma, Wickramasekara, Dipendra Singh Airee, Mongolia's, Sandeep Lamichhane, Ian Ransom, Christian Radnedge Organizations: Asian Games, Zhejiang University of Technology, South, Thomson Locations: HANGZHOU, China, Mongolia, Nepal, Hangzhou, Czech, Afghanistan, Ireland, West Indies, South Africa, Maldives

☆ Shami and batters set up India's clinical win v Australia
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Put into bat, Australia were all out for 276 in exactly 50 overs even though 300 looked within their reach before Shami polished off their tail. Nearly all of Australia's frontline batters got the starts in the match but only David Warner (52) managed a half-century. Australia still looked poised for a bigger total with Josh Inglis (45) and Marcus Stoinis (29) scoring freely. After Adam Zampa removed both the openers and Shreyas Iyer ran himself out in between, Australia looked back in the contest. Rahul made 58 not out, staying put till the end to secure India's victory by hitting Abbott for a four and a six.

Persons: India's Mohammed Shami, Andrew Couldridge, Seamer Mohammed Shami, Mitchell Marsh, KL Rahul, David Warner, Steve Smith, Marnus Labuschagne, Cameron Green, Josh Inglis, Marcus Stoinis, Shami, Shubman Gill's, Ruturaj Gaikwad, Jos Inglis, Sean Abbott's, Gaikwad, Rohit Sharma, Adam Zampa, Shreyas Iyer, Suryakumar Yadav, Rahul, Abbott, Amlan Chakraborty, Christian Radnedge Organizations: Kia, Australia, KL, Thomson Locations: England, India, London, Britain, Australia, Indore, Rajkot, New Delhi

U.S. Vice President Kamala Harris attends the 11th ASEAN-U.S. YASUYOSHI CHIBA/Pool via REUTERS/File photo Acquire Licensing RightsSept 21 (Reuters) - The Biden administration on Thursday announced plans to remove medical bills from Americans' credit reports in a push to end what it called coercive debt collection tactics that affect millions of consumers. Harris told reporters that more than 100 million Americans had unpaid medical debt. For instance, 27% of Black households hold medical debt compared with 16.8% of non-Black households. According to the CFPB, the Fair Credit Reporting Act restricts the use of medical information in credit decisions and credit reports.

Persons: Kamala Harris, YASUYOSHI, Biden, Rohit Chopra, Harris, CFPB, Andrea Shalal, Douglas Gillison, Leslie Adler, Marguerita Choy Organizations: ASEAN, U.S, Summit, ASEAN Summit, Consumer Financial Protection Bureau, Brookings Institution, Thomson Locations: Jakarta, Indonesia

☆ Biden administration takes steps to remove medical bills from credit reports
▼ + stars: | 2023-09-21 | by ( Stephanie Dhue | Stephanie-Dhue | ) www.cnbc.com time to read: +1 min

The Biden administration wants to remove medical debt completely from consumer credit reports, so the Consumer Financial Protection Bureau on Thursday outlined its proposed rules to keep unpaid medical bills from affecting patient's credit scores. One in 5 Americans have medical debt on their credit reports, according to the CFPB. The CFPB found that 58% of all third-party debt collection on consumer credit reports was for medical bills. One study from the Medical Billing Advocates of America estimates up to 80% of medical bills have mistakes. As of July 2022, the companies no longer include medical debt in collection under $500 on credit reports.

Persons: Kamala Harris, Rohit Chopra Organizations: Biden, Financial, America

☆ Ruthless India rout Sri Lanka to win Asia Cup as paceman Siraj shines
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +3 min

Hardik Pandya bagged three wickets while Jasprit Bumrah claimed one as Sri Lanka registered their second lowest total in one-day internationals, lasting only 92 balls. India needed 6.1 overs to achieve the target for a timely boost before their home World Cup beginning next month. "It's like a dream," Siraj, who became only the fourth bowler to take four wickets in an over in ODIs, said after the Sri Lanka innings. "I got four early wickets last time I played Sri Lanka (earlier this year) but unfortunately I could not register a five-wicket haul. Bumrah removed Kusal Perera in the first over to trigger a collapse and the Sri Lanka batters looked helpless as Siraj breathed fire with the new ball.

Persons: Mohammed Siraj, Siraj, Pathum Nissanka, Sadeera, Charith, Dhananjaya de Silva, Hardik Pandya, Jasprit Bumrah, Kusal Perera, Kusal Mendis, Dushan Hemanta, Rohit Sharma, Ishan Kishan, Shubman Gill, Kishan, Gill, Chris Silverwood bemoaned, Amlan Chakraborty, Ken Ferris Organizations: Asia, Sri Lanka, Sri, Thomson Locations: COLOMBO, India, Sri Lanka, Australia, Chennai, New Delhi

☆ Some student-loan borrowers are getting kicked out of classes and racking up debt after being placed in shady payment plans with minimal legal protection, a federal consumer watchdog says
▼ + stars: | 2023-09-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

It found the plans can have predatory terms that include big late fees and aggressive debt collection practices. AdvertisementAdvertisementThe report analyzed 450 institutions' payment plans — 60% of which outsourced management of the payment plans to third-party financial service providers, and it found that the interest-fee plans aren't as affordable as they sound. Additionally, the inconsistency among payment plans can leave students facing disparate consequences for missing a payment. CFPB example of late fees on tuition payment plans. The CFPB said it will continue to monitor schools' payment plans to ensure they are in accordance with consumer law.

Persons: Rohit Chopra, Joe Biden's Organizations: Service, Consumer Financial, Education Department Locations: Wall, Silicon

☆ Bangladesh upset India despite Gill ton
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

Put into bat, Bangladesh overcame a top order wobble to post a competitive 265-8 with skipper Shakib Al Hasan topscoring for his side with a breezy 80. After Rohit Sharma elected to field, Bangladesh slumped to 59-4 before Shakib and Towhid Hridoy (54) steadied the ship. When they returned to defend the total, Tanzim Hasan Shakib claimed two wickets in his first two overs in international cricket to put India immediately under pressure. While wickets kept tumbling at one end, Gill stood tall amid ruins to keep India in the hunt. Mahedi Hasan ended Gill's 133-ball knock but Axar kept India on course until his dismissal in the penultimate over.

Persons: Shakib Al Hasan topscoring, Gill, Axar Patel, Virat Kohli, Jasprit, Kuldeep Yadav, Rohit Sharma, Towhid Hridoy, Nasum Ahmed, Mahedi Hasan, Tanzim Hasan Shakib, Axar, Amlan Chakraborty, Pritha Sarkar Organizations: Sri, Thomson Locations: COLOMBO, Bangladesh, Asia, India, Sri Lanka, Sunday's, New Delhi

☆ Withheld transcripts, kicked off campus: College payment plans pose risks, consumer watchdog warns
▼ + stars: | 2023-09-15 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

However, a new report by the Consumer Financial Protection Bureau warns of a number of risks associated with these payment plans, including snowballing charges and aggressive collection practices. Nearly 4 million students use payment plansNearly all colleges offer some sort of tuition payment plan, the CFPB found. Under the plans, tuition and other education expenses are typically spread out into several payments over a semester or academic year. Most college payment plans are interest-free, but there can be enrollment fees and other charges involved, the CFPB found. "If the family misses a payment, some tuition payment plans may be converted into private student loans with unfavorable terms," he said.

Persons: Rohit Chopra, they're, Elaine Rubin, Rubin, Mark Kantrowitz, delinquencies Organizations: Istock, Consumer Financial, Finance, Money, Homeowners Locations: Edvisors

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