The Federal Trade Commission (FTC) has introduced a new “click-to-cancel” rule designed to simplify the process of canceling subscriptions and recurring payments. Under this rule, businesses must provide consumers with a cancellation process as straightforward as the one used for signing up. The rule, which aims to protect consumers from deceptive practices, will take effect 180 days after its publication in the Federal Register.
Can the Foreclosure Abuse Prevention Act (FAPA) be applied retroactively? Unfortunately, mortgage noteholders lack a clear response. Prior to FAPA, the New York Court of Appeals inFreedom Mortgage Corporation v. Engel, held that if a foreclosure action is voluntarily discontinued it resets the six-year statute of limitations, allowing for a subsequent foreclosure action on the same mortgage.
The Federal Trade Commission today announced a final “click-to-cancel” rule that will require sellers to make it as easy for consumers to cancel their enrollment as it was to sign up. Most of the final rule’s provisions will go into effect 180 days after it is published in the Federal Register.
Today, the Consumer Financial Protection Bureau (CFPB) and the Justice Department (DOJ) took action to end Fairway Independent Mortgage Corporation’s illegal mortgage lending discrimination against majority-Black neighborhoods in the greater Birmingham, Alabama area.
New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris today issued new guidance to assist regulated entities in addressing and combating cybersecurity risks arising from artificial intelligence. The guidance builds on the Department’s ongoing work to protect New Yorkers and DFS-licensed entities from cybersecurity risks through its nation-leading cybersecurity regulation (23 NYCRR Part 500) and follows recently adopted DFS guidance to combat discrimination by insurers using artificial intelligence.
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