On April 24, 2024, the Consumer Financial Protection Bureau (CFPB) released the latest edition of its Supervisory Highlights, this time targeting so-called “junk fees” in the mortgage servicing industry. According to the CFPB, its examiners found that mortgage servicers continued to assess junk fees in a wide array of activities, including unnecessary property inspection fees and improper late fees
In furtherance of the Biden Administration’s “junk fee” agenda, on Thursday, May 9, 2024, the Consumer Financial Protection Bureau and the U.S. Department of Transportation will host a hearing on airline and credit card rewards programs.
On 17 April, 2024, Nebraska Governor Jim Pillen signed into law omnibus Legislative Bill 1074, which includes the Nebraska Data Privacy Act, making Nebraska the seventeenth state to adopt comprehensive data privacy legislation.
The current high interest rate environment is putting a strain on many Americans' finances. After years of keeping rates near zero to stimulate the economy during the pandemic, the Federal Reserve aggressively increased rates starting in early 2022 to cool stubbornly high inflation. While the Fed has kept rate hikes paused for the last several meetings, the federal funds rate currently stands at its highest level in 23 years.
Colorado could be one of the first states to broadly regulate generative artificial intelligence, as lawmakers consider the balance between setting guardrails on a potentially-harmful technology and stifling innovation and entrepreneurship.
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