In recent remarks delivered at the U.S. Chamber of Commerce Capital Markets Summit, Acting Comptroller of the Currency, Rodney E. Hood, outlined the OCC’s strategic priorities for building a resilient and revitalized federal...more
The Consumer Financial Protection Bureau (Bureau) recently announced that it is deprioritizing certain enforcement and supervision actions. The Bureau explained that it will instead focus its limited resources on what it...more
In December 2024, the Consumer Financial Protection Bureau (Bureau) rolled out a series of important measures aimed at addressing potential misconduct in the credit card industry, improving consumer protections, and promoting...more
In recent discussions surrounding banking practices, the issue of overdraft fees, particularly for ATM and one-time debit card transactions, has gained significant attention....more
10/7/2024
/ Banking Sector ,
Banks ,
Compliance ,
Consent ,
Consumer Financial Protection Bureau (CFPB) ,
EFTA ,
Financial Institutions ,
Financial Services Industry ,
Insufficient Funds ,
Notice Requirements ,
Opt-In ,
Overdraft Fees ,
Popular ,
Recordkeeping Requirements ,
Regulation E
In response to the rise of the use of artificial intelligence (AI) technologies in telecommunications, on July 17, 2024, the Federal Communications Commission (FCC) issued a Notice of Proposed Rulemaking (Notice), CG Docket...more
On May 9, 2024, the Consumer Financial Protection Bureau (CFPB) issued a new Issue Spotlight regarding growing problems in the credit card rewards program industry....more
To capture AI’s promise, manufacturers must take steps to protect privacy and root out bias, particularly when they train their systems on data about employees. ...more
11/30/2023
/ Artificial Intelligence ,
Bias ,
Biometric Information ,
Class Action ,
Employee Privacy Rights ,
Employee Tracking ,
Employer Liability Issues ,
Employment Discrimination ,
Employment Litigation ,
Fourth Amendment ,
Geolocation ,
Location Data ,
Machine Learning ,
Manufacturers ,
Mobile Devices ,
Privacy Laws ,
Process Improvement ,
Search & Seizure
On July 26, 2023, the Consumer Financial Protection Bureau (CFPB) issued a new Supervisory Highlights report (Report) that sheds light on the CFPB’s observations and findings of unfair, deceptive, and abusive practices in...more
On June 6, 2023, the Consumer Financial Protection Bureau (CFPB) issued a Spotlight on financial institutions’ growing use of “chatbots” as a means to provide cost-effective customer service.
The use of chatbots in...more
On April 3, 2023, the Consumer Financial Protection Bureau (CFPB) issued a policy statement with guidance on what constitutes “abusive conduct” under the Consumer Financial Protection Act (CFPA)....more