In Other News: US BANK (app); D&B (survey); FTC (Chicago); and CFPB (loan scam).
US BANK – Securely logging in to mobile banking just got easier for U.S. Bank customers with the release of an updated version of the U.S. Bank Mobile app for iPhone. The new app gives customers an option to use Touch ID for faster, more convenient access to their money, combined with the security of a unique fingerprint to login.
D&B – Small businesses are starting the year on an optimistic note, with business’ confidence about future growth at a five-year high, according to recent results from Dun & Bradstreet and Pepperdine University Graziadio School of Business and Management Private Capital Access Index (PCA). The PCA shows 86% of small business owners reported feeling “more optimistic” or “somewhat more optimistic” about their own future business growth prospects.
FTC – At the request of the Federal Trade Commission and the Illinois Attorney General, a federal court has temporarily halted a Chicago-area operation that allegedly threatened and intimidated consumers to collect phantom payday loan “debts” they did not owe, or did not owe to the defendants. The defendants also allegedly illegally provided portfolios of fake debt to other debt collectors – this is the FTC’s first case alleging that practice.
CFPB – The Consumer Financial Protection Bureau (CFPB) took action to halt a student loan debt relief scam that illegally tricked borrowers into paying fees for federal loan benefits and misrepresented to consumers that it was affiliated with the Department of Education. The CFPB is ordering the student debt relief company, Student Aid Institute, Inc., and its chief executive officer, Steven Lamont, to pay a penalty, halt debt relief services, and stop charging affected customers. The CFPB is also permanently barring the company and Lamont from the debt relief industry.