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
The Federal Trade Commission announced today that its enforcement action against the University of Phoenix continues to help students deceived by the for-profit university, as the U.S. Department of Education will forgive nearly $37 million in federal loansfor more than 1,200 students affected by the school’s deceptive practices, based in part on the FTC’s 2019 case.
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