Voice over Internet Protocol (VoIP) provider XCast Labs, Inc., agreed to settle Federal Trade Commission charges that it funneled hundreds of millions of illegal robocalls through its network, even after receiving multiple warnings about the unlawful conduct.
Several financial services trade associations wrote to CFPB Director Rohit Chopra voicing their concerns with the Advisory Opinion regarding Section 1034(c) of the Consumer Financial Protection Act. The trade associations include the American Financial Services Association, the Bank Policy Institute, the Consumer Bankers Association, and the U.S. Chamber of Commerce.
Federal consumer financial protection laws require companies to treat people honestly and fairly. They also protect honest businesses from being forced to compete with those who break the law.
A lot happened in 2023. In many ways, the economic environment born out of the Covid-19 pandemic came to an end as subsidies such as the student loan payment pause and expanded SNAP benefits expired.
A rule from the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCen) is taking effect in the new year with requirements for businesses to report data to create a database of ownership information.
.jpg)
.jpg)