HAUPPAUGE, NY (November 30, 2023) — Teachers Federal Credit Union, one of the largest credit unions in the United States with $9.7 billion assets and more than 470,000 members, is celebrating Giving Tuesday with the launch of its annual Season of Giving campaign, pledging $50,000 to three remarkable non-profit organizations – Memorial Sloan Kettering Cancer Center, Ronald McDonald House, and Tunnel to Towers Foundation.
I am pleased to share that the CFPB has reached important milestones on critical priorities, including personal financial data rights and credit reporting, while continuing to enforce the law and deliver results for consumers and law-abiding businesses. Today, I will share some observations about household financial stability and highlight our progress on important areas of work.
The Consumer Financial Protection Bureau (CFPB) sends 20,000 complaints to companies for responses every week. “I am proud of the CFPB’s work in getting consumers the resolutions they deserve, often through referrals from local organizations, Congressional offices and many others,” CFPB Director Rohit Chopra said Thursday (Nov. 30) in his opening statement during the bureau’s Semiannual Report to Congress.
The Ombudsman’s Office is an independent, impartial, and confidential resource that assists consumers, financial entities, consumer or trade groups, and others in informally resolving process issues with the CFPB.
Today, the California Privacy Protection Agency released draft automated decisionmaking technology (ADMT) regulations that define important new protections related to businesses’ use of these technologies. The proposed regulations would implement consumers’ right to opt out of, and access information about, businesses’ uses of ADMT, as provided for by the California Consumer Privacy Act (CCPA). The Agency Board will provide feedback on these proposed regulations at the December 8, 2023 board meeting, and the Agency expects to begin formal rulemaking next year.
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