Recently, at the Federal Reserve Bank of Philadelphia, CFPB Director Rohit Chopra delivered important remarks about the newly finalized Personal Financial Data Rights rule. This landmark regulation is a significant development for consumers, promoting freedom, decentralization, and competition within our financial system.
A new wave of financial engagement is emerging among zillennials — those straddling the line between Generation Z and younger millennials. This microgeneration, currently ranging from their late 20s to early 30s, is prompting a major change in banking habits, primarily through mobile technology, while still maintaining ties to traditional financial institutions.
New York City’s recently amended debt collection rules — scheduled to go into effect on December 1, 2024 and which would stringently regulate various debt collection activities by debt collectors operating in the city — have drawn a constitutional legal challenge. Whether this challenge will affect the effective date is yet to be seen. The plaintiffs seek declaratory and injunctive relief to prevent the enforcement of the rules amending Title 6 of the Rules of the City of New York, which they argue are unconstitutional and preempted by federal and state law.
The FCC’s Privacy and Data Protection Task Force today announced additional partnerships between the agency’s Enforcement Bureau and state partners on privacy, data protection, and cybersecurity enforcement matters. These formal relationship sallow federal and state enforcement leaders to share expertise, resources, and coordinate efforts in conducting investigations to protect consumers.
The Office of the Comptroller of the Currency (OCC) today finalized revisions to its recovery planning guidelines for certain large insured national banks, federal savings associations, and federal branches (banks).
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