The NCUA has told credit unions they can use the technology behind cryptocurrency as long as they follow NCUA principals to ensure compliance with existing regulations and don’t create undue ...
Trade associations, including the Credit Union National Association (CUNA), American Financial Services Association, Independent Community Bankers of America, and National Association of Federally-Insured Credit Unions filed a Freedom of Information ...
May 26, 2022 - The Consumer Financial Protection Bureau published a circular undercutting credit decisions based on artificial intelligence or machine learning models. These complex algorithms or and models are ...
On May 19, 2022, the CFPB released a new interpretive rule to clarify the authority that state officials have to prosecute violations of the Consumer Financial Protection Act (CFPA). Significantly, ...
The Consumer Financial Protection Bureau (CFPB) announced the opening of a new Office of Competition and Innovation to “help spur innovation in financial services by promoting competition and identifying stumbling ...
The Federal Trade Commission (FTC) recently issued a rule regarding the Standards for Safeguarding Customer Information (Safeguards Rule) which requires financial institutions to make changes to their information security programs. ...
The House Financial Services Committee has scheduled a virtual hearing for Thursday, May 26, 2022, at 12:00 PM E.T., to examine the benefits and risks of a U.S. central bank ...
The Consumer Financial Protection Bureau (“CFPB”) launched a new system to provide guidance to other agencies with consumer financial protection responsibilities. While the CFPB is the main regulator responsible for ...
Last week several federal regulatory agencies jointly released revised questions and answers regarding federal flood insurance. Among the topics covered is escrow of flood insurance premiums, detached structure exemption, force ...
The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion affirming that the Equal Credit Opportunity Act (ECOA) and Regulation B protect applicants seeking credit and those who have already ...