Wisconsin has introduced a bill that would allow financial service providers, such as financial institutions, mortgage bankers and brokers, and other types of lenders, to refuse or delay financial transactions ...
The California Senate and Assembly have passed five amendments to the California Consumer Privacy Act (CCPA). The amendments that are applicable to financial institutions include: Methods for Submitting Requests (Section ...
The New York Senate and Assembly have introduced identical versions of the “New York Privacy Act.” The New York Privacy Act requires companies that do business in New York, or ...
Recently, there have been lawsuits filed or threatened against financial institutions regarding their overdraft protection services and the charging of overdraft and non-sufficient fund fees. These are some of the ...
The FDIC has amended its rule regarding deposit insurance to not require each co-owner of a joint account to personally sign the deposit account signature card to ensure the account ...
In October 2018, the Bureau of Consumer Financial Protection (Bureau) and the Federal Reserve Board jointly proposed amendments to Regulation CC, which implements the Expedited Funds Availability Act (EFA Act), ...
The FDIC released its supervisory highlights for consumer compliance activities. As part of the 2018 examinations, the FDIC identified compliance issues with financial institution’s overdraft programs and Regulation E procedures: ...
NACHA has approved an amendment to the NACHA Operating Rules and Guidelines on Differentiating Unauthorized Return Reasons (“Rule”). Currently, return reason code R10 – “Customer Advises Unauthorized, Improper, Ineligible, or ...
Pursuant to the Regulatory Flexibility Act, agencies are required to consider the impact of their rules on small entities and to conduct a review of how these rules may have ...
On March 12, 2019, the Consumer Financial Protection Bureau (“CFPB”) published the 18th edition of its Supervisory Highlights. The purpose of the Supervisory Highlights is to aid CFPB supervised entities ...