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May

30
2024
Compliance

The Credit Card Competition Act of 2023: Elements and Potential Impact

The Credit Card Competition Act of 2023 (“CCCA”) is proposed legislation that would “amend the Electronic Fund Transfer Act to require the Board of Governors of the Federal Reserve system to prescribe regulations relating to network competition in credit card transactions, and for other purposes.”2

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May

30
2024
Industry News

VA calls for extension of Veteran foreclosure moratorium through Dec. 31, 2024

WASHINGTON — Today, the Department of Veterans Affairs issued guidance to strongly encourage mortgage servicers to implement a targeted moratorium on foreclosures for Veterans with VA-guaranteed loans through December 31, 2024. This will help Veterans and their families stay in their homes beyond the end of the current foreclosure moratorium, which will end on May 31.

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May

30
2024
Trends

FTC provides annual report to CFPB regarding activities in 2023 under consumer financial services laws

On May 20, 2004, the Federal Trade Commission (“FTC”) sent its annual report to the Consumer Financial Protection Bureau (“CFPB”) highlighting its enforcement actions and initiatives in 2023 under the Truth in Lending Act (“TILA”), Consumer Leasing Act (“CLA”), and Electronic Fund Transfer Act (“EFTA”).

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May

30
2024
Industry News

Protect your SNAP benefits from illegal card skimmers

With SNAP benefits, you use an EBT card to buy food at the store. But we’re hearing about scammers using illegal skimmers to steal card information, then grabbing your benefits for themselves. Here’s how to spot and avoid these scams.

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May

29
2024
Trends

FTC Staff Provides Annual Report to CFPB On 2023 Activities Regarding Financial Acts

The staff of the Federal Trade Commission has provided its annual report to the Consumer Financial Protection Bureau on its enforcement and related activities in 2023 on the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), and Electronic Fund Transfer Act (EFTA).

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