According to media reports, CFPB Director Rohit Chopra expressed his concerns over the rise of generative artificial intelligence (AI) technology in his remarks at an Axios event in Washington, D.C. last week. Director Chopra indicated that AI could concentrate “enormous” power within the grasp of a few companies and their top executives. He stated that “it’s the winner-take-all dimension of this that makes it much more pressing. There could be a handful of firms, and just to be honest, a handful of individuals who ultimately have enormous control over decisions made throughout the world.”
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GRAND RAPIDS, Mich. -- Velo Law Office, an innovative law office that combines collection litigation techniques with practical attention to financial concerns, is excited to highlight and champion the incredible work of the Movember Foundation. To celebrate November and to highlight community involvement in Q4, Velo and the team encouraged staff to let their mustaches grow to raise awareness for men’s health issues.
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On December 15, the Consumer Financial Protection Bureau (CFPB) announced it had reached a settlement with medical debt collector Commonwealth Financial Systems, Inc. (Commonwealth) in its lawsuit over alleged illegal debt collection practices. Specifically, the CFPB alleged that Commonwealth failed to conduct reasonable investigations of disputes and violated the Fair Debt Collection Practices Act (FDCPA) by attempting to collect disputed debt without obtaining substantiating documentation. Under the settlement agreement, Commonwealth is banned from debt collection activities, must request CRAs to delete all consumer accounts to which it had previously furnished information, and must pay a $95,000 penalty to the CFPB’s victims relief fund.
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