ALEXANDRIA, Va. (Sept. 21, 2023) – The National Credit Union Administration Board held its eighth open meeting of 2023 and unanimously approved a final rule that amends the NCUA’s regulations regarding indirect lending, the purchase of loan participations, and the purchase, sale, and pledge of eligible obligations and notes of liquidating credit unions. In addition, the NCUA’s Chief Financial Officer briefed the Board on the performance of the National Credit Union Share Insurance Fund during the second quarter of 2023.
Florida Governor Ron DeSantis recently signed Senate Bill 262 into law, adopting the "Digital Bill of Rights" proposed by his office in February. Florida joins the rapidly increasing group of states, California, Utah, Colorado, Connecticut, Virginia, Iowa, Indiana, Tennessee, Montana, and Texas (together, "US State Data Privacy Laws") with comprehensive data privacy laws.
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today announced it is beginning a rulemaking process to remove medical bills from Americans’ credit reports. The CFPB outlined proposals under consideration that would help families financially recover from medical crises, stop debt collectors from coercing people into paying bills they may not even owe, and ensure that creditors are not relying on data that is often plagued with inaccuracies and mistakes.
The digital age has ushered in a host of transformative opportunities for businesses, from enhanced customer engagement through data analytics to streamlined operations via digital platforms. However, this digital transformation has also introduced significant challenges, chief among them being the protection of individual privacy.
Nonbank financial institutions are critical intermediaries in the U.S. financial system, alongside traditional banking organizations. The Financial Stability Board of the G-20 countries estimates assets of U.S. nonbank financial institutions totaled roughly $20.5 trillion in 2021, compared to $23.7 trillion in assets held by U.S. insured depository institutions. This represents around 30% of nonbank assets globally.1
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