April is Financial Literacy Month, and a great time to talk about consumer protection information that helps people avoid losing money to scammers. Federal Trade Commission data show people reported losing more than $10 billion to scams in 2023, marking the first time that fraud losses have reached that benchmark.
Last week, the lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB or Bureau) credit card late fee rule (Final Rule) was transferred from the U.S. District Court for the Northern District of Texas to the District Court for the District of Columbia (D.D.C.).
The U.S. Equal Employment Opportunity Commission’s (EEOC) Management Directive 715 (MD-715) requires federal agencies to submit an annual report that evaluates whether agencies are establishing and maintaining effective programs of equal employment opportunity under Section 717 of Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. § 2000e et seq., and Section 501 of the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 791 et seq.
On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule reducing late fee charges to $8.00 on consumer credit cards. This final rule applies to credit card issuers with more than 1 million open accounts.
Scams that impersonate well-known businesses and government agencies are consistently among the top frauds reported to the FTC’s Consumer Sentinel Network.[1] In 2023, data from the FTC alone show more than 330,000 reports of business impersonation scams and nearly 160,000 reports of government impersonation scams.
.jpg)
.jpg)