On February 13, 2024, the Minnesota legislature introduced H.F. 3680, a bill that proposes to opt out of federal interest rate preemption by federally insured state-chartered banks or credit unions making consumer loans in Minnesota pursuant to Section 525 of the federal Depository Institutions Deregulation and Monetary Control Act (DIDMCA).
The rule includes more options to resolve an appeal of a CFPB examination and broadens bureau staff eligible to review appeals from financial institutions.
On February 9, the California Department of Financial Protection and Innovation (DFPI) published a proposed rule to adopt new regulations under the Debt Collection Licensing Act (DCLA). Under the DCLA, a debt collector licensee is required to pay the DFPI Commissioner its “pro rata share of all costs and expenses incurred in the administration” of the DCLA, which is calculated in part based on the licensee’s “net proceeds generated by California debtor accounts,” but the term “net proceeds” was not defined in the statute.
LANSING – Michigan Attorney General Dana Nessel wants consumers to be on the lookout for scam emails that may contain her name. It has been recently reported to the Department of Attorney General’s Consumer Protection Team that bad actors are sending emails purporting to be from Nessel. The email claims to offer help with scammers attempting to steal the recipient’s tax refund. However, the emails themselves are a scam.
The Federal Trade Commission is seeking public comment on a supplemental notice of proposed rulemaking that would prohibit the impersonation of individuals. The proposed rule changes would extend protections of the new rule on government and business impersonation that is being finalized by the Commission today.
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