Today, the National Credit Union Administration released the 2023 Credit Union Diversity Self-Assessment Results Report(Opens new window). The voluntary credit union diversity self-assessment helps federally insured credit unions to assess their diversity, equity, and inclusion efforts.
Today, Federal Trade Commission Chair Lina M. Khan announced that an open meeting of the Commission will be held virtually on Tuesday, January 14, 2025. The open meeting will commence at 11 a.m. ET and will begin with time for members of the public to address the Commission.
Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will remove an estimated $49 billion in medical bills from the credit reports of about 15 million Americans. The CFPB’s action will ban the inclusion of medical bills on credit reports used by lenders and prohibit lenders from using medical information in their lending decisions. The rule will increase privacy protections and prevent debt collectors from using the credit reporting system to coerce people to pay bills they don’t owe.
Last week, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final regulations that significantly impact the reporting requirements for brokers involved in digital asset transactions. The stated aim of the new rules, which are part of the Biden-Harris Administration’s implementation of the bipartisan Infrastructure Investment and Jobs Act, is to streamline tax reporting and ensure compliance within the decentralized finance (DeFi) sector. The regulations will become effective 60 days after their publication in the Federal Register.
Have you ever bought a toy in a big, impressive box, thinking it’s ready to go, only to open it and find a million tiny pieces and overly complicated instructions? My approach? Grab some superglue, glance at the pictures, and call it a day. My husband, on the other hand, reads every single word of the directions, studies the diagrams, and meticulously checks if all the parts are accounted for. It’s a classic case of two minds tackling the same task differently. This isn’t too far off from what happens when people interpret contracts with collection agencies and repossession forwarders or agents. Different perspectives can lead to vastly different understandings of what’s required, and that’s where the fun—and sometimes the frustration—begins!
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