BOSTON — Attorney General Andrea Joy Campbell has announced that her office has proposed regulations to prohibit hidden “junk fees,” which companies use to deceptively hike prices on consumers above advertised prices. The proposed regulations would require businesses to clearly disclose the total price of a product at the time it is presented to consumers, provide clear and accessible information on whether fees are optional or required, and simplify the process for cancelling trial offers and recurring charges, amongst other rules.
About 60 credit unions in the US are experiencing outages because of a ransomware attack on an IT provider the credit unions use, a federal agency said Friday. The National Credit Union Administration (NCUA), the agency that insures deposits at federally insured credit unions, said in a statement to CNN that it was “coordinating with affected credit unions” in the wake of the hack.
Louisiana residents are more likely to be unable to make payments on time according to new research. Experts are revealing the states in the US which are in the most and least financial distress as 6.8 million Americans have at least one credit account where they are late on their payments.
The rise of AI technology has prompted regulatory agencies to take action and protect consumers’ rights, as evidenced by the recent efforts of the Federal Trade Commission (FTC) and the California Privacy Protection Agency (CPPA).
WASHINGTON, D.C. – U.S. Senator Bob Menendez (D-N.J.), a senior member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, yesterday asked the Director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra, about what the CFPB can do to rein in excessive overdraft fees.
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