{"id":1993559,"date":"2023-08-07T19:10:02","date_gmt":"2023-08-07T23:10:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-puts-us-new-york-predatory-lending-lawsuit-against-credit-acceptance-on-hold\/"},"modified":"2023-08-07T19:13:47","modified_gmt":"2023-08-07T23:13:47","slug":"judge-puts-us-new-york-predatory-lending-lawsuit-against-credit-acceptance-on-hold","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-puts-us-new-york-predatory-lending-lawsuit-against-credit-acceptance-on-hold\/","title":{"rendered":"US, New York predatory lending lawsuit against Credit Acceptance put on hold by judge."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjudge-puts-us-new-york-predatory-lending-lawsuit-against-credit-acceptance-on-hold%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1993559&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Breaking News: Judge Halts Predatory Lending Lawsuit Against Credit Acceptance Corp<\/h2>\n<p>By Jonathan Stempel<\/p>\n<p>NEW\u2063 YORK (Reuters) \u2013 A\u2063 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sidney-powell-is-an-american-legal-giant\/\" title=\"Sidney Powell Is an American Legal Giant\">federal judge<\/a> on \u2062Monday put on hold\u2064 a predatory lending lawsuit against Credit Acceptance Corp \u200bby the U.S. Consumer Financial Protection Bureau and New York Attorney General Letitia James, over objections from both regulators.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>In staying the lawsuit, U.S. \u200bDistrict Judge \u2063Jennifer Rearden in\u200c Manhattan cited a separate case before the U.S. Supreme\u200b Court over whether the\u200c CFPB\u2019s funding \u2063mechanism is constitutional.<\/p>\n<p>A ruling against \u200cthe CFPB could imperil actions by the consumer \u2064watchdog since it was \u200bcreated as part of\u200c the Dodd-Frank \u200dAct in 2010, in response to the global \u200bfinancial\u200c crisis.<\/p>\n<p>The CFPB and James accused Credit Acceptance of driving low-income \u2063borrowers \u200dinto used-car loans it knew they\u200c could not afford, with interest rates \u200caveraging 22%, \u2063and concealing\u2064 the true cost of borrowing.<\/p>\n<p>In \u2062one <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-york-sues-amazon-over-alleged-worker-exploitation-amid-pandemic\/\" title=\"New York Sues Amazon Over Alleged Worker \u2018Exploitation\u2019 Amid Pandemic\">alleged instance<\/a>, \u200bCredit Acceptance approved\u200c a \u2064$260-a-month loan for a mother of two who made just\u2062 $950 per month, \u200cand whose vehicle ended up being repossessed twice.<\/p>\n<p>The \u200dregulators argued that the CFPB\u2019s funding status had no bearing on whether \u200dtheir \u2063lawsuit could \u200cproceed.<\/p>\n<p>But the\u200b judge said that while the public had an\u200d interest in \u2062seeing consumer protection \u200claws\u2064 enforced, \u201cany potential harm \u200cto the public caused by delaying this action is outweighed by the benefit to consumers \u200bin proceeding in a streamlined fashion.\u201d<\/p>\n<p>The CFPB declined to comment. James\u2019 office did\u2063 not \u200cimmediately\u200d respond to requests for \u2062comment.<\/p>\n<p>A Supreme Court\u2062 decision in the funding case \u2063is expected by next June.<\/p>\n<p>Last December, another judge \u2064cited that case \u200bin staying a lawsuit by the CFPB and \u2063James\u200b against\u2063 MoneyGram\u2064 International over remittance transfers,\u2064 which \u2063let people in the \u200cUnited States\u200c send money to \u2062family and friends elsewhere.<\/p>\n<p>The case\u2063 is\u200b Consumer Financial Protection Bureau et al v Credit Acceptance Corp, U.S. District\u2062 Court, Southern District \u2064of New York,\u200d No. 23-00038.<\/p>\n<\/p>\n<p>  (Reporting by Jonathan Stempel in\u200d New York; Editing by David Gregorio)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/judge-puts-us-new\/attachment\/file-photo-signage-is-seen-at-the-consumer-financial-protection\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>ESG:\u2062 The Controversial &#8220;Woke Capitalism&#8221;<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Environmental,\u2064 social, and corporate governance also known as ESG has received a lot of pushback as many have called it \u201cwoke \u200ccapitalism\u201d.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Introducing Public Sq.: A Non-Woke Marketplace<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Public\u2064 Sq. is \u2063a\u200b non-woke marketplce that seeks to connect shoppers with pro-American \u200cvendors.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>No Debates Ahead of Democrat Primary\u200d Election<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The Democratic National Committee \u2062announced there will be\u200c no\u2064 debates leading up to the Democrat primary election.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Concerns \u200dRise as \u2064Gas Prices \u2064Climb<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The cost of gas is climbing again, with many drivers concerned that they could see those 2022 prices again<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>PayPal Launches\u2063 U.S. \u200cDollar Stablecoin<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Jaiveer Shekhawat\u200d and Hannah Lang\u200b (Reuters)\u2062 -Payments giant PayPal said on Monday it has launched a\u2064 U.S.\u200d dollar stablecoin, becoming the\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Facebook Owner Meta Platforms Faces Daily Fines<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Gwladys Fouche OSLO (Reuters) -Facebook owner Meta Platforms will be\u2063 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gaza-amputee-is-inspiration-to-young-swimmers\/\" title=\"Gaza amputee inspires young swimmers.\">fined 1 million crowns<\/a>\u200b ($98,500) per day \u2063over \u200bprivacy breaches from\u2026\u2063 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>North Korean Hackers Breach Computer Networks<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By James Pearson\u200d and\u2062 Christopher Bing LONDON\/WASHINGTON (Reuters) \u2013 An \u2063elite group of North Korean\u200b hackers secretly breached computer networks at a\u2026 \u2064 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Brazil&#8217;s\u2063 Central Bank Announces Digital Currency<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BRASILIA (Reuters) \u2063\u2013 Brazil\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-puts-us-new-york-predatory-lending-lawsuit-against-credit-acceptance-on-hold\/\" title=\"US, New York predatory lending lawsuit against Credit Acceptance put on hold by judge.\">central bank forthcoming \u2063digital currency<\/a>, set\u200c to launch next year, will be \u200dnamed DREX, it announced \u2064on Monday,\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A federal judge in New York has temporarily halted a predatory lending lawsuit against Credit Acceptance Corp. The lawsuit was filed by the U.S. Consumer Financial Protection Bureau and New York Attorney General Letitia James. Despite objections from both regulators, the judge decided to put the case on hold.<\/p>\n","protected":false},"author":66,"featured_media":1993560,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1993559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1993559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1993559"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1993559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1993560"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1993559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1993559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1993559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}