On August 8, the CFPB published four advance notices of proposed rulemaking in the Federal Register seeking public comment to reconsider the test for defining larger participants in the consumer reporting, debt collection, international money transfer, and automobile financing markets.
On July 28, the New Jersey Division of Consumer Affairs issued a reminder to more than 3,000 auto dealerships regarding their obligations under the New Jersey data deletion law, N.J.S.A. § 56:12-18.1. This law, enacted and effective in January 2024, requires dealerships to offer data deletion services for consumer information stored in vehicles accepted for resale or lease. Dealerships are now on notice of their compliance obligations under the law.
Collection departments can’t afford to focus on just one data point or a single month’s performance. To understand what’s really coming down the pike, you have to step back and see the entire landscape — and right now, that landscape has some dark clouds forming.
The Federal Reserve Bank of New York’s Q2 Household Debt and Credit Report just landed, and buried inside is a warning sign. Credit card delinquencies — accounts 90+ days past due — are inching dangerously close to the levels we saw during the 2008–2009 financial crisis.
President Trump has issued an Executive Order directing banking agencies to adopt policies to ensure that financial institutions do not use reputational risk as a basis for restricting access to banking services—a process known as “debanking.”
Phishing and scams are dynamic types of online fraud that primarily target individuals, with cybercriminals constantly adapting their tactics to deceive people. Scammers invent new methods and improve old ones, adjusting them to fit current news, trends, and major world events: anything to lure in their next victim.
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