CFPB Launches New System to Promote Consistency Among Enforcers

On May 16, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it will launch a new initiative to provide guidance to other agencies with consumer financial protection responsibilities on how the CFPB intends to enforce “Federal consumer financial law.” 12 U.S.C § 5481(14).

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NCLC Tells FCC “Callers Can Easily Avoid Making Calls to Telephone Numbers That Have Been Reassigned….”–But is it That Simple?

In response to the Department of Health and Human Services’ (HHS) recent letter to the FCC seeking clarity on whether the TCPA applies to texts it would like to make to alert Americans of certain medical benefits, the National Consumer Law Center (NCLC)–an organization that nominally represents consumers, but really seems to represent the interests of the plaintiff’s bar–has filed a comment.

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Senate Banking Subcommittee Holds Hearing on Overdraft Fees and Their Effects on Working Families

On May 4, 2022, the Senate Banking Committee’s Subcommittee on Financial Institutions and Consumer Protection held a hearing entitled “Examining Overdraft Fees and Their Effects on Working Families.”  A recording of the hearing is available here.

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BNPL is Primed for Growth

Despite Buy-Now-Pay-Later (BNPL) info flooding the newswires, it holds only a small percentage of the payments landscape with 9% of global e-commerce transactions in 2021 (Juniper Research). However, it is growing fast both in the US and globally.

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Fifth State in the Union Becomes Fifth State to Enact Data Privacy Legislation

On May 10, Gov. Ned Lamont signed into law Substitute Senate Bill 6 (Public Act 22-15), Connecticut’s version of comprehensive consumer data privacy legislation.  This makes Connecticut the fifth state to enact such legislation, following California, Virginia, Colorado, and Utah.  The Act will go into effect July 1, 2023.

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Court Reduces Punitive Damages Award in FCRA Case

In Ramones v. AR Res., Inc., No. 19-62949-CIV-SCOLA/SEITZ (S.D. Fla. Apr. 8, 2022), the court refused to set aside an award of punitive damages based on violations of the Fair Credit Reporting Act, but it reduced the jury’s award from $700,000 to $450,000.

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The Vendor Management Masterclass Part I

8 June 2022 at 02:00 p.m.

Customer behavior and spending is changing. 

The CFPB is hyper-interested in data collection, use, and privacy. 

We're likely on the edge of a credit downturn, which will result in higher delinquency and charge off rates.

New (and old!) agency partners and technology companies are promising to solve your problems. How can you be sure your vendors are compliant, efficient, and that you’re getting what you paid for?

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» Data Matters: How to Build the Foundation for Your Data Program - Session 1

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