In a previous post, we discussed the oral arguments held on December 18, 2024, by the U.S. Court of Appeals for the Eleventh Circuit in the case of Insurance Marketing Coalition Limited (IMC) v. Federal Communications Commission (FCC). The case challenged the FCC’s December 2023 order under the Telephone Consumer Protection Act (TCPA), which aimed to reduce unwanted robocalls and texts by closing the “lead generator loophole” and requiring “one-to-one consent” for telemarketing communications. The new rule was set to take effect on January 27, 2025. However, during oral arguments, the Eleventh Circuit judges expressed skepticism about the FCC’s justification for its new rule.
Argus Information and Advisory Services, a subsidiary of TransUnion, has agreed that it will not seek any government contracts with the CFPB for three years, following action by several government agencies.
Today, the Consumer Financial Protection Bureau (CFPB) published a report about financial outcomes for cash-out refinance mortgage borrowers. Cash-out borrowers had an initial sharp improvement in credit scores, followed by a gradually worsening of their scores. Scores in general, however, stayed above their pre-refinance levels. The report confirms that borrowers often do use the money from a cash-out refinance to pay down other debts, particularly credit card and auto loan debt. The report looked at borrowers between 2014 and 2021.
The payments industry is increasingly defined by speed, security and precision, and generative artificial intelligence promises to transform every facet of financial services.
Yet, as Lisa McFarland, executive vice president and chief product officer at Ingo Payments, told PYMNTS for the series “What’s Next In Payments: Memo to the GenAI Companies,” if she were to sit down with Sam Altman or other AI leaders, her message would be clear: The payments industry needs more specialized solutions.
The enforcement landscape of recently enacted state consumer privacy laws in the United States is beginning to take shape, with state attorneys general (AGs) or designated specialized enforcement agencies leading the charge. The absence of comprehensive federal legislation, along with a lack of private rights of action in most state privacy regimes, has resulted in varied enforcement strategies and priorities across different jurisdictions. The following summarizes some state enforcement actions and priorities.
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