Today’s podcast show features a discussion with Julie Andersen Hill about her law review article titled “Regulating Bank Reputation Risk”, 54 GA. L. Rev. 523 (2023). Professor Hill is the Dean and Wyoming Excellence Chair of the University of Wyoming College of Law.
The New York City Department of Consumer and Worker Protection (DCWP) has once again responded to industry feedback by pushing back the effective date for its new rules affecting debt collectors. This delay follows ongoing requests from the accounts receivable management industry and aims to give everyone more time to adjust to the changes.
New proposals introduced last week in both the House and Senate are aiming to cut off the Consumer Financial Protection Bureau’s (CFPB) funding from the Federal Reserve, while reinstating congressional oversight of the agency. In the Senate, U.S. Sen. Ted Cruz, R-Texas, introduced the Defund the CFPB Act, which would eliminate the transfer of funds from the Federal Reserve to the CFPB. This bill seeks to stop the CFPB from receiving its funding outside of the traditional congressional appropriations process.
Arsenis v. M&T Bank is a tale of two cases. The bank brought an action against Ms. Arsenis to foreclosure on a mortgage loan in New Jersey Superior Court. Through a combination of defenses and counterclaims in the foreclosure action, Ms. Arsenis argued that the bank had violated the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Real Estate Settlement Procedures Act (RESPA), and the Fair Debt Collection Practices Act (FDCPA).
Businesses need data from consumers, and the sharing and selling of this resource has become quite common. However, you also need to be mindful of the rights of the people whose data you collect, especially their personally identifiable information (PII). In fact, if your business stores, processes, and shares consumer data, PII compliance is a legal requirement under numerous laws.
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