WASHINGTON—Deputy Comptroller for Compliance Policy and Acting Deputy Comptroller for the Office of Financial Technology Donna Murphy today testified on the activities and initiatives of the Office of the Comptroller of the Currency’s (OCC) Office of Financial Technology before the Subcommittee on Digital Assets, Financial Technology and Inclusion, Committee on Financial Services of the U.S. House of Representatives.
NEW YORK – New York Attorney General Letitia James today warned New Yorkers impacted by a data breach at a medical transcription company, Perry Johnson & Associates, to take action to prevent potential identity theft. The company experienced a data breach affecting nearly nine million patients, including approximately four million New Yorkers in New York City and Syracuse. Northwell Health and Crouse Health have been affected by this data breach, and most individuals whose data was impacted have been notified. Attorney General James advises affected New Yorkers to protect themselves and their information from theft and impersonation
In the first quarter of 2023, more than 43 million people in the U.S. were holding federal and private student loan debt, totaling more than $1.77 trillion overall. The staggering statistics around student loan debt have made the topic a fixture of news headlines and a recurring point of discussion in the halls of government. However, in September, the Wall Street Journal reported that the total amount of auto loan debt had surpassed student loan debt. At the end of Q2 2023, auto loan debt reached $1.58 trillion compared to $1.57 trillion in student loan debt.
Buy now, pay later (BNPL) has emerged as a popular credit option, enabling consumers to make purchases immediately but pay for them in smaller installments over time. This flexibility has revolutionized shopping experiences, offering convenience and greater control over spending.
Having worked with financial regulators for over 33 years, I understand the financial services industry’s vital role in the U.S. economy. The NCUA insures deposits at federally insured credit unions, protects the members who are not only consumers but also owners of credit unions, and charters and regulates federal credit unions. The strength of the credit union industry is based on the number and diversity of credit unions that meet the financial needs of their members. Safe, fair, and affordable access to financial services is necessary to ensure that local, state, and national economies grow and thrive.
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