On May 20, California’s Department of Financial Protection and Innovation (DFPI or Department) announced that it had filed a Notice of Proposed Rulemaking with the Office of Administrative Law, inviting public comments on the proposed rulemaking. The purpose of the proposed regulations is to implement, interpret, clarify, and make specific, certain sections of the California Consumer Financial Protection Law (CCFPL) that impose requirements on covered companies to respond to consumer complaints and report information about those complaints and responses to the DFPI.
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Medical debt collection has become a trending topic among state legislatures and federal regulators alike. New legislation and regulations are systematically eroding asset value for healthcare providers. In the past year, we have seen California, Maryland, Nevada, and New Mexico enact new laws. Colorado and New York appear to be on the path to do so as well. To add insult to injury, the Consumer Financial Protection Bureau (CFPB) continues to aggressively focus on medical debt as well.
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PCI DSS 4.0 will replace the current operating version on March 31, 2024, and while most of the changes are a simple codification of best practices, it’s important for organizations to have important conversations about those changes internally and with their service providers now.
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