The Federal Trade Commission (FTC) has begun sending more than $5 million in refunds to consumers who were harmed by a deceptive credit card debt relief scheme.
The funds in this distribution came from ACRO Services, which operated under multiple names and ran the scheme, and BlueSnap, which provided payment processing services and profited from the scheme, the FTC said in a Tuesday (Jan. 21) press release.
On January 7, the National Credit Union Administration (NCUA) released its supervisory priorities for 2025, outlining the key areas of focus for federally insured credit unions. This guidance is crucial for credit unions as it highlights the areas posing the highest risk to members, the industry, and the National Credit Union Share Insurance Fund (Share Insurance Fund).
As part of Governor Hochul’s recently unveiled 2025 State of the State, Governor Hochul today announced the Department of Financial Services has posted proposed regulations to enhance consumer protections against unfair overdraft fees. These regulations ensure consumers will no longer be burdened with overdraft fees for minor transactions and require banks to provide timely notifications to consumers about overdraft fees to improve transparency.
AI is reshaping the workplace, and two of the nation’s most influential states – California and New York – are making sure businesses take accountability. California’s Attorney General issued sweeping advisories on Monday warning that AI-driven decisions must align with existing laws on consumer protection, discrimination, privacy, and competition.
As the Biden Administration came to a close, the CFPB released a compendium of guidance documents issued by the bureau between October 2021 and January 2025.
“CFPB guidance documents have provided clarification on the best interpretations of the federal consumer financial laws for those tasked with enforcing them, as well as the courts,” Brian Shearer, the bureau’s assistant director in the Office of Planning & Strategy and CFPB General Counsel Seth Frotman, wrote in an introduction to the volume.
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