In a move aimed at reforming how medical debt is handled, Illinois recently enacted two pivotal laws during its legislative session. These measures, part of a broader trend across the United States, seek to regulate the reporting of healthcare-related debts by credit agencies, as well as provide significant relief for residents burdened by medical expenses.
As we wait for a federal privacy law in the U.S., the Land of 10,000 Lakes joins a growing number of states that now have their own laws. As expected, Minnesota’s data privacy law has similarities to other state privacy laws and also a few differences—most notably unique requirements around profiling and data inventories.
Bank of America said its profits fell in the second quarter, as higher interest rates ate into BofA's expenses, including its large consumer banking franchise. But like Goldman Sachs, Bank of America saw a resurgence of activity in its investment banking division which helped make up for some of the weakness in other parts of the bank.
On July 3, the Financial Crimes Enforcement Network (FinCEN) published a notice of proposed rulemaking (NPRM) as part of a broader initiative to “strengthen, modernize, and improve” financial institutions’ anti-money laundering and countering the financing of terrorism (AML/CFT) programs.
Myriam Valdez-Singh Appointed DFPI Deputy Commissioner for Legislation. Jerry Twomey Selected DFPI Deputy Commissioner for BDIA, 2024-25 Assessment Rates for Credit Unions and Money Transmitters and more.
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