Congressional finance legislators earlier this week chastised a decision by the U.S. Chamber of Commerce and the American Bankers Association (ABA) to sue banking regulators in an effort to block them from reforming the Community Reinvestment Act (CRA).
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Three banks will lower their prime lending rate after the Federal Reserve decided to reduce the federal funds rate. BMO, Truist Financial and MT&T Bank said in separate press releases issued Wednesday (Sept. 18) that they will lower their prime lending rate from 8.5% to 8%, effective Thursday (Sept. 19).
Pennsylvania AG Michelle Henry announced yesterday the launch of an online portal for businesses to report data breaches to the AG’s office. The portal launch comes before Pennsylvania’s new breach amendments take effect on September 26, 2024. One of the amendments will require businesses to report to the AG Office any breach that impacts more than 500 Pennsylvania residents. Businesses can provide notice to the AG using the new online portal.
Some dollar store chains and other retailers now are charging consumers for obtaining cash back on debt or prepaid card purchases—transactions that generally have been free in the past–the CFPB reported.
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