On January 18, the CFPB filed a proposed final judgment against an Illinois-based third-party payment processor and its founder (collectively, “defendants”), which ceased operations almost three years ago, settling claims that the defendants facilitated payments for telemarketing fraudsters targeting seniors.
On January 20, the Federal Reserve (Fed) released a much-anticipated discussion paper examining the pros and cons of a potential U.S. central bank digital currency (“CBDC”). To fully evaluate a potential CBDC, the Fed asks for public comment on more than 20
On November 3, Acting Comptroller of the Currency, Michael J. Hsu, remarked at the BritishAmerican Business Transatlantic Finance Forum 2021-2022 Executive Roundtable about the regulation of stablecoins and other crypto-assets (we discussed Hsu’s previous remarks on crypto trends and risks
Section 1033 of the Dodd-Frank Act states that consumers have the right to access their own bank account and transaction data in a usable electronic format. This provision mandates that the CFPB adopt a rule relating to data access. However,
On January 5, the CFPB released its Annual Report of Credit and Consumer Reporting Complaints that analyzes complaint responses by the three major consumer reporting agencies (CRAs). The CFPB’s analysis reveals that recent changes in complaint responses provided by the
On January 5, the FTC announced that two defendants will be permanently banned from the merchant cash advance and debt collection industries, and required to pay $675,000 to resolve allegations that they used deceptive and illegal means to seize assets
On December 17, the CFPB filed a proposed stipulated final judgment and order against a limited liability company, its principals, and an attorney who allegedly provided advisory services to consumers who sold structured settlements to the company. The CFPB alleged
On December 22, New York Governor, Kathy Hochul, signed Senate Bill 1780C (S1780C), which allows the state’s notaries to conduct remote online notarizations (RON). The law is to be effective on June 20, 2022. Among other things, the
