The Click-to-Cancel Rule, an amendment to the Federal Trade Commission’s (FTC) Negative Option Rule, was designed to protect consumers from deceptive subscription and recurring billing practices. The rule, which was announced in 2024, aimed to make canceling a subscription as simple as signing up for it. Days before the rule
Would a history of late or non-payment on a person’s credit report, as reported by debt collectors, affect your decision to hire that person? If so, you are part of the reason the New York State Legislature is seeking to ban the use of credit reports in employment decisions. Lenders,
If you’re a business trying to collect on your receivables, you might be wondering if the law considers you a debt collector. Recent changes to New York City’s debt collection rules have broadened the definition. This expansion could affect more businesses than ever before. While these new rules are designed
In January 2025, the CFPB (The Consumer Financial Protection Bureau) released a report as of 2022 detailing the increase of American consumers use of Buy Now, Pay Later (BNPL) loans to purchase goods on line. We had written about the BNPL loans earlier this year voicing concern over the potential
New York state legislators introduced the FAIR Business Practices Act in early March 2025, in hopes of providing small businesses more ways to defend themselves from unfair, abusive, and deceptive conduct. Protections that are currently only available to consumers within the state. The Fostering Affordability and Integrity through Reasonable (FAIR)
Update: As of February 9, the Trump administration has ordered the Consumer Financial Protection Bureau to halt operations. Russell Vought, the new director of the Office of Management and Budget, sent an email to the agency’s employees telling them not to perform any work-related tasks. In addition to state and local
Strapped for cash, MyPillow CEO Mike Lindell took at least two merchant cash advances. Because Lindell’s companies defaulted on payments, suits were filed in New York alleging MyPillow-related entities and Mike Lindell as a personal guarantor defaulted on the loans. Sometimes businesses that do not qualify for traditional loans look
Some assets owned by a judgment debtor may be subject to seizure by a judgment creditor. If unsecured, the assets (e.g., bank accounts, brokerage accounts) can be transferred or sold to benefit the creditor. There are other assets that require a court order to transfer assets or the debtor’s interest
Proposed changes regarding the removal and reporting of medical debt may lead you to change how you do business if you rely on credit reports when deciding whether to grant credit, In June, the Consumer Financial Protection Bureau (CFPB) proposed some major changes related to the reporting of medical debt
Earn up to 1 CPE Credit* Program Description: Alternative Dispute Resolution (ADR) clauses in Engagement Letters: The ADR process, costs, fees, and financial impact when collecting accounting fees. Learning Objective: Participants will gain an understanding of the financial implications of Dispute Resolution (ADR) clauses in Engagement Letters and it’s impact