So R.E.A.C.H. just wrapped up meetings with the FCC–including the bureau and the offices of each commission. (Ex parte filings here: Exparte Comment to FCC re 10082024-StarksExparte Comment to FCC re 10152024-SimingtonExparte Comment to FCC re 10162024-Chairwoman RosenworcelExparte Comment to FCC re 10182024-GomezREACH Exparte Comment 10072024 – Bureau)
In lieu of a federal law regulating artificial intelligence, state policymakers have introduced nearly 700 pieces of AI legislation in 2024, signaling an impending wave of legislation to come in 2025. A new report says this trajectory follows the pattern of consumer data privacy laws that were similarly introduced en masse over the last several years.
Today, the Consumer Financial Protection Bureau (CFPB) issued guidance to protect workers from unchecked digital tracking and opaque decision-making systems. The guidance warns that companies using third-party consumer reports — including background dossiers and surveillance-based, “black box” AI or algorithmic scores about their workers — must follow Fair Credit Reporting Act (FCRA) rules.
Today’s podcast, which repurposes a recent webinar, is the conclusion of a two-part examination of the CFPB’s use of a proposed interpretive rule, rather than a legislative rule, to expand regulatory requirements for earned wage access (EWA) products. Part One, which was released last week, focused on the CFPB’s use of an interpretive rule to expand regulatory requirements for buy-now, pay-later (BNPL) products.
In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Partner David Anthony and Rami Haddad, deputy general counsel for Compliance, Litigation, and Privacy at PRA Group. The discussion dives into a variety of pressing issues in the consumer finance sector and covers current litigation trends, the impact of the Supreme Court's overruling of Chevron in the Loper Bright case, and the CFPB's new nonbank registry rule.
.jpg)
.jpg)