One of the most persistent frustrations in consumer finance—especially with subprime portfolios—is figuring out how to educate customers about their financial responsibilities, credit behavior, or available support… when they won’t pick up the phone, reply to texts, or open emails.
A recent report, “Consumer Credit Economy: Credit Card Fraud,” a collaboration between PYMNTS Intelligence and i2c, reveals a substantial level of consumer concern surrounding this issue. It shows 28% of consumers having already fallen victim to credit card fraud within the last year. Moreover, 37% express being very or extremely worried about the prospect of unauthorized access to their credit card accounts.
The Office of the Comptroller of the Currency (OCC) today notified Congress of a major information security incident, as required by the Federal Information Security Modernization Act.
Oregon Attorney General Dan Rayfield has released a report detailing implementation steps and enforcement actions taken during the first six months of the Oregon Consumer Privacy Act ("OCPA"), which entered into force in July 2024.1 The report describes the Oregon Department of Justice Privacy Unit's ("Privacy Unit") extensive efforts to educate consumers and business about the OCPA and emphasizes the high level of consumer engagement.
One of the main risks for a company in the event of a data breach is the threat of litigation. Data breach litigation continued to proliferate in 2024, as it has in prior years.
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