In an effort to promote “open banking” and reduce “sticky banking”, make it easier for consumers to compare their current financial institution to competitors, and to generally increase competition among financial institutions, on October 19, 2023, the CFPB proposed a new Personal Financial Data Rights Rule, which, if it becomes final, will likely take effect early in 2024.
WASHINGTON, November 15, 2023—The Federal Communications Commission today
voted to begin a formal inquiry that will take a closer look at how artificial intelligence
technology impacts illegal and unwanted robocalls and robotexts. The agency will assess both
AI’s potential to positively and negatively affect consumers.
Veterans Affairs leaders are calling for an immediate halt on all foreclosures on homes financed through department loans and extending a pandemic support program in an effort to help veterans struggling with housing payments.
The Consumer Financial Protection Bureau (CFPB) has proposed a rule to define a market for general-use digital consumer payment applications. Larger participants in this market would be subject to CFPB supervision and examination authority under the Consumer Financial Protection Act (CFPA). The proposed market would cover providers of funds transfer and wallet functions through consumer digital applications for consumers’ general use used to make payments to other persons for personal, family, or household purposes.
Medical debt: New federal rules could provide credit relief for millions of Americans
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