On February 1, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing on “Examining Scams and Fraud in the Banking System and Their Impact on Consumers,” and invited three panelists to testify, including an attorney from a consumer law center and two vice presidents from banking associations. Chairman Sherrod Brown (D-OH) led the hearing by noting that peer-to-peer (P2) apps are a rising target among scammers, alongside a rise in check fraud.
On January 22, 2024, the Federal Trade Commission (FTC) entered into a Stipulated Order for Permanent Injunction, Monetary Judgment, and Other Relief (the “Order”) with FloatMe Corp.
February 8, 2024 (Sacramento, CA) – Members of Receivables Management Association International (RMAI) elected Officers and Directors to its Board for 2024. Of the ten-member Board, eight are continuing service from the previous year. The 2024 Officers and Directors are:
Members of Congress are urging the Consumer Financial Protection Bureau to reopen comments on its digital payments rule for large nonbank companies in the marketplace and reconsider the rule as proposed.
Connecticut was one of the first U.S. states to pass a comprehensive data privacy law back in May 2022. Today, a total of 13 states have passed similar laws, and dozens of other states are proposing legislation to do so as well.
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