These days, it seems like you never need cash, as more and more stores take credit cards. This is especially true with the rise of mobile apps that facilitate credit card transactions for small businesses. On the one hand, this is great news because who likes to handle tiny intractable coins and crumpled bills? But on the other hand, this means … [Read more...]
Wells Fargo Gave Car Insurance to 800,000 People Without Telling Them
In late July, it was discovered that Wells Fargo had “sold” auto insurance policies to more than 800,000 people without ever informing them. Apparently, it’s common practice for financial companies to hand out insurance to its debtors in order to protect the lender’s interests. This is known as collateral protection insurance (CPI). The thing is: … [Read more...]
Justice Gorsuch Writes His First Opinion for the Supreme Court
Justice Neil Gorsuch delivered his first opinion this week, explicating the unanimous Court’s decision that the Fair Debt Collection Practices Act (FDCPA) does not apply to companies that have purchased debt in full with the intent to collect. A unanimous decision on a non-controversial case made this a suitable occasion for a first opinion – an … [Read more...]
