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.
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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