A coalition of groups supporting consumers and economic growth are asking the Biden administration and Consumer Financial Protection Bureau to halt a proposed rule from the bureau to cap credit card late fees.
On October 24, 2023, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (together, the “Agencies”) issued a final rule designed to modernize and fine tune the Community Reinvestment Act’s (“CRA”) implementing regulations. The Agencies believe that the final rule, which will mostly become applicable between January 1, 2026 and January 1, 2027, is designed to achieve four primary goals:
Federal Communications Commission Chair Jessica Ronsenworcel recently announced a proposed directive to focus the FCC on AI’s burgeoning role in scam calls, particularly those targeting the elderly. The proposal will be presented at the November 15 commission meeting and would direct research into the strengths and weaknesses of generative AI, the role that AI plays in scamming consumers, and the role that AI may play in enforcing the Telephone Consumer Protection Act (TCPA).
A Texas federal judge Thursday put the Consumer Financial Protection Bureau’s small-business data collection rule on hold nationwide, asserting an earlier injunction he issued — covering only certain banks — allows for a double standard.
The last two years have been exciting ones for CFPB Enforcement, even as we’ve faced down a challenge to the constitutionality of the CFPB’s funding and authority, and, fundamentally, to our mission. Of course, this is not the first time the CFPB has faced such challenges. But those challenges have never deterred us.
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