Comprehensive consumer privacy laws are rapidly expanding across the United States, significantly impacting PEOs. Currently, 19 states have enacted privacy laws, with eight already in effect and 11 set to take effect between January 2025 and January 2026. Here, we breakdown what PEOs need to know about thresholds for applicability and practical steps for compliance.
The U.S. Court of Appeals for the Sixth Circuit recently affirmed that a debt collector did not violate the Fair Debt Collection Practices Act (FDCPA) when it threatened legal action to collect debts that were still within the applicable statute of limitations.
The Servicemember Civil Relief Act limits the amount of interest that may be charged on certain financial obligations that were incurred before military service began to no more than 6% percent per year, including most fees and charges, the CFPB and the Justice Department reminded financial institutions in a recent letter.
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a 2025 Operating Budget of $3 billion, a 2.2% increase from the previous year’s budget. While the Ongoing Operations budget increases by $161.4 million (6.3%) from 2024, the Receivership Funding component of the budget declines by $100 million, or 28.6%.
The Consumer Financial Protection Bureau (CFPB) announced major actions today to protect consumers from illegal credit card practices and help people save money on interest and fees. In a circular to other law enforcement agencies, the CFPB warned that some credit card companies operating rewards programs may be breaking the law, including by illegally devaluing rewards points and airline miles. The CFPB also published new research finding that retail credit cards—which typically offer store-specific rewards and loyalty programs—charge significantly higher interest rates than traditional cards.
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