On December 5, an Arizona Superior Court for Maricopa County issued an Order to Show Cause to the state of Arizona and scheduled an expedited evidentiary hearing in a suit challenging the newly passed Arizona Protection from Predatory Debt Collection Act (the Act), also known as Proposition 209. Arizona voters passed the Act in the November midterm elections and it became effective on December 5, the same day the suit and show cause order were filed.
Wells Fargo, which operates more than 4,700 branches throughout the U.S., has rolled out a small-dollar loan program that offers instant, automated loans received in minutes and with a fraction of the fees typically attached to payday loans.
On December 8, 2022, Teleperformance USA reported a data breach with the Texas Attorney General after learning that an unauthorized party had accessed confidential consumer information that was entrusted to the company. According to Teleperformance USA, the breach resulted in the names, addresses and Social Security numbers being compromised.
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) proposed requiring certain nonbank financial firms to register with the CFPB when they become subject to certain local, state, or federal consumer financial protection agency or court orders. The CFPB has further proposed to publish the orders and company information via an online registry.
LexisNexis Risk Solutions released the results of its first Global State of Fraud and Identity Report, exploring research and insights from industry experts “on recent statistics and trends from [their] industry-recognized studies on the Global True Cost of Fraud and transaction data from over 39B transactions from the LexisNexis Digital Identity Network® from January 2022 to June 2022.”
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