News accounts of instances of stolen identity in which identity thieves incur debts in the names of innocent consumers are common. Given the structure of the consumer credit industry, it is difficult for consumers to know where to turn to try to fix the problem.
California is officially the first state to pass a law streamlining personal data removal. On October 10, Governor Gavin Newsom signed SB 362, known as the Delete Act, into law, requiring the California Privacy Protection Agency (CPPA) to create and roll out a tool allowing state residents to request that all data brokers delete their information. There are nearly 500 registered data brokers in California.
OAKLAND – California Attorney General Rob Bonta today joined a coalition of 48 states, the District of Columbia, and Puerto Rico in announcing a $10 million settlement with payment processor ACI Worldwide and its subsidiary, ACI Payments, over a testing error that led to the attempted unauthorized withdrawal of $2.3 billion from the accounts of mortgage-holders. ACI processes mortgage payments for a variety of third-party clients, including mortgage servicer Nationstar Mortgage, which is also known publicly as “Mr. Cooper.”
The CFPB Wednesday released an advisory opinion for financial institutions it supervises – which includes credit unions with more than $10 billion in assets – to provide consumers with information about their accounts “in a timely manner” and without a fee. NAFCU Senior Vice President of Government Affairs Greg Mesack argued this approach “is another instance of the bureau overstepping its authority and masking a major power grab as simple ‘guidance.’”
Nearly two years after a surprise medical bill ban took effect, the process for settling billing disputes between insurers and providers is still mired in litigation and many cases remain unresolved.
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