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December

4
2023
Industry News

House passes resolution to void section 1071 rule

The House passed a resolution of disapproval for the Consumer Financial Protection Bureau’s section 1071 rule Friday. The Senate passed the resolution in October and it will now head to President Joe Biden’s desk, who is expected to veto it.

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December

4
2023
Industry News

AG Nessel Re-issues Alert Warning Consumers About Dangers of Artificial Intelligence

LANSING – Michigan Attorney General Dana Nessel joined Hank Winchester with WDIV-Detroit to alert consumers that artificial intelligence (AI) is now being used by scammers to make their requests for money and personal information more convincing.

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December

4
2023
Trends

Digital Shopping Scams Rose 12% Between Thanksgiving and Cyber Monday — Protect Your Money for Remainder of Holiday Season

The average incidence of suspected digital shopping fraud during the Cyber Five days — the days from Thanksgiving, Nov. 23, through Cyber Monday, Nov. 27 — was up a whopping 12% in the U.S. compared to the rest of the year, according to a new analysis from TransUnion.

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December

4
2023
Industry News

State Regulatory Developments on “Income-Based Advances”

The CFPB carefully monitors developments in state law and regulation relating to consumer financial protection. The California Department of Financial Protection and Innovation (DFPI) recently proposed to undertake registration and examinations of companies that provide what the proposal refers to as “income-based advances.” Earlier this week, the CFPB submitted input on DFPI’s proposal.

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December

1
2023
Industry News

Mark Sekula Named Next President/Chief Executive Officer at RBFCU

LIVE OAK, Texas, Nov. 30, 2023 /PRNewswire/ -- The Board of Directors at Randolph-Brooks Federal Credit Union (RBFCU) has chosen Mark Sekula to be RBFCU's next President/Chief Executive Officer. Sekula will officially begin this position in mid-March 2024 and will replace Christopher W. O'Connor upon his retirement.

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