News Archives
Mr. Cooper Hit with Second Class-Action Suit Related to Data Breach
Cyber attack exposed 14.6 million customers’ personal information. Mortgage loan giant Mr. Cooper is grappling with a second class-action lawsuit after a significant data breach compromised 14.6 million customers’ personal...
Dec. 22, 2023: CFPB Updates This Week
PUBLISHED DEC 20, 2023 CFPB and Justice Department Sue Developer and Lender Colony Ridge for Bait-and-Switch Land Sales and Predatory Financing The Consumer Financial Protection Bureau (CFPB) and the Justice Department...
Nearly Two-Thirds of Struggling Consumers Revolve Credit Card Balances
The holiday season has offered little reprieve from the rising prices of goods and services still weighing on consumers’ wallets. Many consumers use credit cards as a cash flow management...
PSR Enforces “Step-Change” in Reimbursement Rules for APP Fraud Victims
The UK’s Payment Systems Regulator (PSR) has confirmed plans to improve protections for victims of authorised push payments (APP) fraud, which will come into force in October 2024. In what...
FinCEN Updates Frequently Asked Questions on Beneficial Ownership Information
The Financial Crimes Enforcement Network (FinCEN) has updated its Beneficial Ownership Information (BOI) Frequently Asked Questions to include new questions related to general questions, the reporting process, reporting companies, reporting...
National Flood Insurance Program Left Treading Water, Again
The National Flood Insurance Program is drowning in a sea of debt and policymakers have been unable, or unwilling, to enact a long-term rescue of the program. At the end...
Credit Unions Lead Banks on Innovation: Study Shows
Filene publishes survey showing the average credit union on top of almost all bank brands. A study commissioned by Filene Research Institute found credit unions scored ahead of most banks...
Critical Bluetooth Flaw Exposes Android, Apple & Linux Devices to Takeover
Various devices remain vulnerable to the bug, which has existed without notice for years and allows an attacker to control devices as if from a Bluetooth keyboard. Attackers can exploit...
Global Banks Face Negative Outlook, Property Stress in 2024 – Moody’s
Sluggish global growth, a higher risk of borrowers defaulting on loans and pressure on profitability mean that banks face a negative outlook in 2024, credit rating agency Moody’s said on...
CFPB Updates This Week
PUBLISHED DEC 07, 2023 CFPB Orders Atlantic Union Bank to Pay $6.2 Million for Illegal Overdraft Fee Harvesting The Consumer Financial Protection Bureau (CFPB) today took action against Atlantic Union Bank...
Recent CFPB Updates
PUBLISHED NOV 30, 2023 CFPB Ombudsman’s Office 2023 Annual Report The Ombudsman’s Office annual report, which I delivered to the Director, is available today on our webpage. The Ombudsman’s Office is...
The Lawfare Podcast: Will Generative AI Reshape Elections?
How might, and might not, generative AI make a difference when it comes to the political landscape? Unless you’ve been living under a rock, you’ve probably heard a great deal...