On May 2, Virginia Governor Glenn Youngkin signed Senate Bill 1212 (SB 1212) into law, introducing new requirements and prohibitions under the Virginia Consumer Protection Act. Specifically, SB 1212 targets the disclosure of mandatory fees and surcharges in consumer transactions.
Citing cutbacks at the federal level, Pennsylvania Governor Josh Shapiro has launched a new centralized consumer protection hotline, website and email address to make it easier for state residents to report allegations of scams and resolve financial and insurance issues.
The Office of the Comptroller of the Currency (OCC) today clarified permissible bank activities related to crypto-asset custody and execution services.
The OCC published Interpretive Letter 1184 to confirm that national banks and federal savings associations may buy and sell assets held in custody at the customer’s direction and are permitted to outsource to third parties bank-permissible crypto-asset activities, including custody and execution services, subject to appropriate third-party risk management practices. This authority was also addressed in OCC Interpretive Letters 1170 and 1183.
The CFPB says it wants to scrap a Biden Administration rule that prohibits credit reporting agencies from including medical debts on credit reports, one of many Biden era rules that the Trump Administration has sought to nullify.
Inflation is changing the ways in which we eat, whether buying food at the grocery store or dining out.
The PYMNTS Intelligence Paycheck-to-Paycheck report titled “Navigating the Shifting Sands of Consumer Spending Amid Rising Prices and New Tariffs” found that, with the responses of 2,280 U.S. consumers in hand, and extrapolating the data to the larger population, more than 50 million consumers would shift their spending, and in some cases would freeze spending on certain categories outright, should price tags rise by 10% or more.
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