HHS Cybersecurity Performance Goals and the Healthcare Industry -
The healthcare industry is a major target for cyberattacks because of all of the personal information collected from patients. Recognizing that the healthcare...more
3/8/2024
/ Artificial Intelligence ,
Automation Systems ,
Biden Administration ,
Biometric Information ,
Cancer ,
Climate Action Plan ,
Cybersecurity ,
Data Protection ,
Department of Health and Human Services (HHS) ,
Disclosure Requirements ,
EU ,
Financial Institutions ,
Financial Services Industry ,
Food and Drug Administration (FDA) ,
Fraud ,
Healthcare ,
Incident Response Plans ,
Life Sciences ,
Online Safety for Children ,
Personal Information ,
Pharmaceutical Industry ,
Privacy Laws ,
Securities and Exchange Commission (SEC) ,
Security Breach ,
Technology Sector
FTC Amends Safeguards Rule to Require Non-Banking Financial Institutions to Report Data Security Breaches -
“Amendment will require non-bank financial institutions to report when they discover that information affecting...more
11/8/2023
/ Artificial Intelligence ,
Banks ,
Beneficial Owner ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Transparency Act ,
Credit Unions ,
Data Breach ,
Data Security ,
Debit Cards ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Interest Rates ,
Non-Bank Lenders ,
Reporting Requirements ,
Safeguards Rule ,
State and Local Government
CFPB Issue Spotlight Analyzes “Artificial Intelligence” Chatbots in Banking -
"Poorly deployed chatbots can impede customers from resolving problems."
Why this is important: The Consumer Financial Protection Bureau...more
7/11/2023
/ Artificial Intelligence ,
Automotive Loans ,
Banking Sector ,
Borrowers ,
Bots ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit Cards ,
Credit Reports ,
Customer Service Standard ,
Debt Collection ,
Delinquency Status ,
Fair Credit Billing Act (FCBA) ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Financial Institutions ,
Financial Services Industry ,
Landlords ,
Tenants
Survey Finds Small-Business Lending Fraud on Rise -
“Lending fraud with small and midsize businesses has increased significantly over the last 12 months, and many financial institutions expect it to get worse, according to...more
6/1/2023
/ Artificial Intelligence ,
Banks ,
Chapter 11 ,
Commercial Bankruptcy ,
Construction Industry ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
Financial Institutions ,
Financial Services Industry ,
Fraud ,
Lending ,
Libor ,
Secured Overnight Funding Rate (SOFR) ,
Small Business ,
Truth in Lending Act (TILA)
Banks are Borrowing Less from the Federal Reserve -
“’So the fact that they are now borrowing less means that they’re trying to get back to normal.’”
Why this is important: Investors and commentators look to several...more
5/1/2023
/ Automotive Loans ,
Banking Sector ,
Coronavirus/COVID-19 ,
Credit Unions ,
Defamation ,
Deposit Insurance ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
Fox News ,
Mortgages
Plaintiffs Pursuing Increased Class Action Breach of Contract Claims for Overdraft Fees and Charges Against Customers -
“With plaintiff attorneys seeing potential large dollar settlements and verdicts, along with increased...more
US Senators Ask SoFi About Its Banking Law Compliance =
“Four U.S. senators have signed a letter to SoFi Technologies CEO Anthony Noto expressing concerns about the online personal finance company and online bank’s digital...more
12/7/2022
/ American Bankers Association ,
Bank Holding Company ,
Banking Sector ,
Banks ,
Biden Administration ,
Commercial Bankruptcy ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Credit Cards ,
Cryptocurrency ,
Digital Currency ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Non-Bank Lenders ,
Overdraft Fees ,
Regulatory Agenda ,
Regulatory Oversight ,
Scams
Is SAFE Banking Act Getting Closer to Passage? Senators Agree Public Safety Issues are at Play
"Sen. Jeff Merkley (D-OR), the sponsor of the SAFE Banking Act, talked about violent crime targeting marijuana businesses and...more
Mortgage Lenders are Starting to Go Broke Amid Rate Spike and US Mortgage Lenders are Starting to Go Bankrupt — How This One Factor Could be Triggering the Worst Surge of Failures Since 2008
"Last year, two-thirds of the...more
CFPB Takes Action to Protect the Public from Shoddy Data Security Practices
"The bureau said the circular does not suggest that particular security practices are specifically required under the Consumer Financial...more
9/7/2022
/ Blockchain ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
Financial Institutions ,
Non-Fungible Tokens (NFTs)
Biden Signs Bills Aimed at Catching Pandemic Business Loan Cheats -
"President Joe Biden signed a pair of bills that will give the Justice Department more time to investigate and prosecute people accused of fraudulently...more
Financial Services Committee Passes Bills to Protect Consumers
"The House Financial Services Committee, led by Chairwoman Maxine Waters (D-CA), passed eight bills to strengthen oversight of our nation’s affordable housing...more
8/11/2022
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Cryptocurrency ,
Fair Lending ,
FDCPA ,
FDIC ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Securities and Exchange Commission (SEC)
Can an Effort to Revamp Anti-Redlining Lending Law Survive the Swamp?
"The first major overhaul of the Community Reinvestment Act since 1995 wins praise, but some advocates say it falls short on closing the racial lending...more
A New Student Loan Company is Now Taking Over the Accounts of Public Servants Seeking Debt Cancellation
"This also comes as borrowers have 4 months left to apply for extended student-loan relief."
Why this is important:...more
SOFR Gaining Momentum as Drop Dead Date for Libor Nears -
"Transition from US dollar Libor to its preferred alternative, SOFR, is going surprisingly well, though treasurers are having to grapple with some operational...more
Banking Law Rooted in Civil Rights Era Gets a 21st Century Update "The Community Reinvestment Act basically mandates that if you open a bank in a low-income neighborhood, you can’t just take that neighborhood’s deposits and...more
6/3/2022
/ Banking Sector ,
Community Reinvestment Act ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Decriminalization of Marijuana ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Forbearance Agreements ,
OCC