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May

13
2024
Industry News

Justice Department Secures Relief from Hyundai Capital America to Compensate Servicemembers Whose Federal Civil Rights Were Violated

The Justice Department announced today that Hyundai Capital America has agreed to pay $333,941 to resolve allegations that it violated the Servicemembers Civil Relief Act (SCRA) by illegally repossessing 26 vehicles owned by servicemembers.

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May

13
2024
Trends

Credit Card Net Charge-Offs Are Rising. Here's Why Banks Aren't Too Concerned.

The Federal Reserve recently ended its most aggressive interest rate-hiking campaign in four decades. Many expected rising interest rates to thrust the U.S. economy into recession quickly, but consumers showed a robustness that surprised many.

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May

13
2024
Industry News

Nebraska Enacts Comprehensive Privacy Law

On April 12, Nebraska Governor Jim Pillen signed Legislative Bill 1074 into law, making Nebraska the 16th U.S. state to enact a comprehensive privacy law. The Nebraska Data Privacy Act (NEDPA) will take effect on January 1, 2025. Nebraska’s law largely mirrors the Texas Data Privacy and Security Act, with some exceptions around required consumer disclosures.

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May

13
2024
Industry News

House Passes Landmark Legislation to Improve Data Privacy

SAINT PAUL, Minn. – Today, the Minnesota House passed the Minnesota Consumer Data Privacy Act, HF 2309, as a part of the House Agriculture/Commerce/Energy Supplemental Budget. Authored by Rep. Steve Elkins (DFL - Bloomington), the legislation would grant consumers the right to prevent their data from being sold or used to target advertising at them. In the case of sensitive personal data, including location data, companies would have to secure your permission in advance before using it in this manner.

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May

13
2024
Industry News

Federal Judge Blocks CFPB Rule Limiting Credit Card Late Fees

The government’s new rule that would limit credit card late fees has been blocked by a federal judge in Texas. In a Friday (May 10) decision, Judge Mark Pittman of the U.S. District Court for the Northern District granted an injunction that halts the restrictions.

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