WASHINGTON (TND) — Americans are increasingly relying on credit to support their spending habits, leading to record highs in credit card debt at a time where interest rates have gone up rapidly as the Federal Reserve tries to bring inflation down.
On May 28, the Texas legislature passed the Texas Data Privacy and Security Act (TDPSA), also known as H.B. 4. The TDPSA was sent to Governor Greg Abbott on May 30. If signed into law, the TDPSA will take effect on July 1, 2024. Below is a summary of some the key takeaways from the TDSPA.
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released a new issue spotlight on the expansive adoption and use of chatbots by financial institutions. Chatbots are intended to simulate human-like responses using computer programming and help institutions reduce the costs of customer service agents.
Federal Trade Commission law enforcement actions resulted in more than $392 million in refunds to consumers in 2022, the agency said in its annual report on refunds. More than 1.9 million consumers benefited from FTC refund payments.
SACRAMENTO – The California Department of Financial Protection and Innovation (DFPI) announced
today that it has issued enforcement actions against three entities for unlicensed debt collection
activity under the Debt Collection Licensing Act (DCLA) and unlawful, unfair, deceptive, or abusive acts
or practices in violation of the California Consumer Financial Protection Law (CCFPL).
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