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Nov. 15: CFPB Recent Updates
Published NOV 14, 2024 CFPB Orders Global Tel Link to Pay $3 Million for Illegally Freezing and Draining Payments Accounts for People Who Are Incarcerated The Consumer Financial Protection Bureau (CFPB)...
Household Debt Rose Modestly; Delinquency Rates Remain Elevated
The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $147...
U.S. House Committee on Financial Services Hearing Notice: Oversight of Prudential Regulators
Washington, November 13, 2024 – Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced the following hearing: Full Committee Hearing Entitled: “Oversight of Prudential Regulators” Time: 10:00 AM ET Date:...
How Will Banks Ensure Cash Availability in the Wake of Natural Disasters?
Banks are focusing on maintaining access to cash during crises, refining their business continuity plans, and diversifying cash reserves to ensure liquidity in disaster-hit areas. Recent events like hurricanes Helene...
2024 Audit of the CFPB’s Information Security Program
Office of Inspector General: Each year, we audit the CFPB’s information security program as required by the Federal Information Security Modernization Act. The CFPB’s information security program remains effective as a...
PODCAST: State Fair Access / Debanking Laws Bring Country’s Political & Cultural Divisions to the Fore
New State Laws Create Tension with Federal AML Requirements An increasing number of states have either enacted or are considering enacting legislation requiring financial institutions to provide persons (both existing...
Ruling On Illinois Interchange Case Expected Soon
Oral arguments in the Illinois interchange case took place Wednesday, America’s Credit Unions reported. The case is a challenge to the Illinois Interchange Fee Prohibition Act (IFPA) brought by America’s Credit Unions,...
PODCAST: Why Retailers and Merchants Should Pay Attention to the CFPB
In this episode of The Consumer Finance Podcast, Chris Willis and Jesse Silverman delve into the recent activities of the Consumer Financial Protection Bureau (CFPB) that pose significant risks to...
Capping Credit Card Rates and Fees Won’t Ease Consumer Debt Crunch
Viewpoint: Would capping interest rates and late fees on credit cards help debt-laden Americans as much as both parties say? J.D. Power data suggests some might not even notice the...
NY DFS Issues New Guidance to Address Cybersecurity Risks Arising from Artificial Intelligence
Guidance, Released During National Cybersecurity Awareness Month, Assists Entities in Identifying Cybersecurity Risks Associated with the Use of AI and Recommends Controls to Mitigate Risks New York State Department of...
CISA and FBI Release Joint Guidance on Product Security Bad Practices for Public Comment
Today, the Cybersecurity and Infrastructure Security Agency (CISA) and the Federal Bureau of Investigation (FBI) released joint guidance on Product Security Bad Practices, a part of CISA’s Secure by Design initiative. This joint...
Oct. 18: CFPB Recent Updates
Published OCT 17, 2024 CFPB Sues Student Lender Climb Credit and Investment Firm 1/0 for Deceiving Borrowers About Coding Bootcamps and Vocational Programs The Consumer Financial Protection Bureau (CFPB) sued student lender...