The Consumer Financial Protection Bureau (CFPB) has found that debt collectors are using illegal tactics, and it is taking steps to ensure they follow consumer financial protection laws. The regulator said this in a Thursday (Sept. 5) press release announcing findings from its annual report on debt collection, which it said highlights illegal practices in the collection of medical debt and rental debt.
This has been the year of enterprise artificial intelligence (AI). From healthcare and financial services to government agencies, critical sectors around the globe are embracing the benefits that large language models (LLMs) and other AI systems can provide when it comes to driving efficiencies, enabling data-driven decision-making and powering innovative products and services.
Yesterday, the League of Southeastern Credit Unions (LSCU) and the Virginia Credit Union League (VCUL) announced plans to merge, marking the first state league consolidation since 2022. According to the leagues’ combined website, this strategic partnership will provide a larger, more diverse membership base and will have a stronger voice in industry discussions and advocacy efforts. Additionally, by implementing a modernized dues formula, the leagues’ members will benefit from increased efficiencies and cost savings.
On May 30, the Supreme Court issued its opinion in Cantero v. Bank of America, reversing and remanding the case to the Second Circuit. Rather than articulating a bright line test for preemption, the Supreme Court instructed the circuit court to conduct a “nuanced analysis” to determine whether the National Bank Act preempts a New York state law that requires the payment of 2% interest on mortgage escrow accounts.
FCC Chairwoman Jessica Rosenworcel today announced the FCC will vote later this month on new rules to further protect consumers from illegal and unwanted calls and texts. If adopted by a vote of the full Commission at its September 26 Open Meeting, the new rules will bolster current FCC rules on blocking and robocall mitigation in several key areas.
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