This New Year is setting up to be a momentous one for the consumer financial services industry in the United States Supreme Court. In 2024, the Supreme Court is expected to decide four impactful cases that may hold that the CFPB’s funding is unconstitutional, eliminate giving deference to CFPB, FTC and federal banking agency regulations, severely narrow National Bank Act (NBA) preemption of state laws, and limit the time during which a plaintiff may sue an agency to facially challenge an agency rule. We cannot recall a prior year in which the Supreme Court considered so many cases which impacted the consumer financial services industry.
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The upward trend in data privacy legislation continued in 2023. According to the National Conference of State Legislatures, “[a]t least 40 states and Puerto Rico introduced or considered at least 350 consumer privacy bills in 2023,” a significant increase from the 200 bills in 2022. Many of these bills were limited in scope, relating to, for example, biometric, genetic and geolocation data, data brokers, and internet service providers.
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CHESAPEAKE, Va. -- Spring Oaks Capital, LLC is excited to announce the hiring of Michael Meyer as Chief Technology Officer. Michael will lead the firm’s efforts in data science, data engineering, product development, and information security and infrastructure, reporting directly to President & CEO Tim Stapleford.
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