New branch licensing requirements take effect in Maryland July 1, plus several more states enact data privacy laws, bringing the total to 10.
The CFPB announced at the end of last week that it had entered into a consent order with Phoenix Financial Services, LLC (Phoenix), a third-party debt collector that collects primarily past-due medical debts and furnishes information to consumer reporting agencies (CRAs), to settle alleged violations by Phoenix of the Fair Credit Reporting Act and its implementing Regulation V, the Fair Debt Collection Practices Act, and the Consumer Financial Protection Act.
On June 8, 2023, the Supreme Court issued a unanimous decision holding that the aggravated identity theft statute –and its mandatory minimum of two years – is not triggered merely because someone else’s identification facilitates or furthers the offense in some way.
FCC assesses over $5M in fines against John M. Burkman, Jacob Alexander Wohl, and J.M. Burkman & Associates LLC for making 1,141 unlawful robocalls to wireless numbers.
July 2023 will mark the second time in six years that a new real-time payments rail will go live in the United States. And with it comes a lot of uncertainty about whether the Federal Reserve will move as “fast” in adapting these rails to the use cases that matter for credit union members. But forward-thinking CUs can leverage members’ trust to forge new instant payments ecosystems.
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