(CN) — The Federal Trade Commission’s decision to invalidate virtually all employee noncompete agreements — including ones already in place that cover 30 million workers — will mean big changes in the workplace as businesses seek new ways to protect themselves against employees taking valuable information when they leave to join a rival.
(May 6, 2024) – The Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Federal Housing Finance Agency (FHFA), have adopted a Notice of Proposed Rulemaking (NPR) to address incentive-based compensation arrangements, as required under section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (section 956). The National Credit Union Administration (NCUA) is expected to take action on the NPR in the near future.
You’ve probably heard it before, but data is undoubtedly the oil of the 21st century. And, just like oil, any data breaches or the equivalent “spills” of consumer information can be damaging to both businesses and their ecosystems.
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) took action against Chime Financial for failing to give consumers timely refunds when their accounts were closed. Thousands of consumers waited for weeks or even months for balance refunds after closing their accounts - a failure that inflicted significant financial harm on consumers who did not have access to critical funds to help make ends meet.
The law requires that the Federal Reserve Board of Governors, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the National Credit Union Administration, the Federal Housing Finance Agency, and the Securities and Exchange Commission implement rules prohibiting compensation arrangements that encourage inappropriate risk-taking. The rules were supposed to be completed thirteen years ago.
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