On July 2, the California Department of Financial Protection and Innovation (DFPI) was advised that Patelco Credit Union was subjected to a ransomware attack on June 29, 2024. On August 20, Patelco noticed its members that confidential information may have been exposed due to the attack.
The FCC announced a settlement to resolve its enforcement action against Lingo Telecom that transmitted spoofed robocalls that used generative AI voice cloning technology to spread disinformation in connection with a presidential primary election in NH.
A proposed class action lawsuit has been filed in the U.S. District Court for the Northern District of California against EarnIn, a FinTech provider of Earned Wage Access services, alleging that its optional fees and tips constitute hidden interest payments. The complaint claims that EarnIn’s practices violate Georgia’s Payday Loan Act and the federal Truth in Lending Act (TILA).
The CFPB and Credit Repair Cloud, have reached agreement over allegations that the firm helped other credit repair businesses charge illegal fees to consumers. If approved by a federal judge in the Central District of California, the company would pay a $1 million penalty and its CEO, Daniel A. Rosen would pay a $2 million civil penalty.
By speaking with thought leaders and experts in finance, the FDIC Podcast aspires to untangle the myths and mystery of the banking world, and to shed light on how every family can become part of the financial fabric of this country.
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