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Friday, August 06, 2010

Houlihan Smith Drops Its Lawsuit Against 800Notes

by Paul Alan Levy

A Chicago investment bank, obtained a short-term restraining order against 800Notes.com as formerly talked about right here, Houlihan Smith The operator of 800Notes, got notice of the suit and was able to call to the Court’s attention section 230 of the Communications Decency Act, as well as the plaintiff’s factual misrepresentations and faulty legal arguments after it refused to remove negative comments from consumers (and former employees) but then was denied a preliminary injunction after Julia Forte. (more…)

Let me make it clear about customer bureau scraps cash advance guidelines

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The buyer Financial Protection Bureau on Tuesday formally rescinded a strategy to impose brand brand brand new limitations on payday financing, handing the industry a significant triumph by killing down tighter guidelines so it invested years lobbying to overturn.

The proposed guidelines might have been 1st significant federal regulations on a market that produces $30 billion per year in high-interest, short-term loans, frequently to currently struggling borrowers. Those loans can leave borrowers caught in rounds of financial obligation, incurring fees every couple weeks to replenish loans they can’t manage to pay back. (more…)