We previously reported that the House and Senate released a bipartisan bill concerning data privacy called the American Data Privacy and Protection Act (ADPPA). On June 23, the Subcommittee Consumer Protection ...
The Federal Trade Commission (FTC) issued its annual report to the Consumer Financial Protection Bureau (CFPB) on its enforcement activities regarding the Truth in Lending Act (TILA), Consumer Leasing Act ...
On May 6, 2022, the Consumer Financial Protection Bureau (CFPB) issued a 43-page Fair Lending Report to Congress outlining its work concerning fair lending in 2021. Highlights from the CFPB’s ...
The House Financial Services Committee submitted a report on June 7, 2022, recommending passage of the Fair Lending for All Act (H.R. 166) (the “Act”), to establish an Office of ...
On June 3, 2022, House and Senate leaders released a draft bipartisan bill concerning a new data privacy framework. An overview of the draft bill’s key provisions includes the following: ...
The National Credit Union Association (NCUA) recently released NCUA Letter 22-CU-07 discussing the use of distributed ledger technology (DLT) by credit unions. The NCUA has taken the position that credit ...
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 ...