On May 24, 2024, Governor Walz signed into law the Minnesota Consumer Data Privacy Act (MNCDPA). This landmark law is the first set of comprehensive consumer privacy standards specific to Minnesota residents. The law will take effect on July 31, 2025, for most covered entities.
A significant portion of the dollar earning and spending population — an estimated 1.7 billion people — will be entering into the economy in the coming years. Credit unions need to start considering how to reach this generation with unique values and exceptional digital fluency. We’re sharing six ways your credit union can captivate Gen Z members and secure a place in the hearts and wallets of tomorrow’s financial leaders.
WASHINGTON, D.C. - The Consumer Financial Protection Bureau (CFPB) today issued a circular warning against the use of unlawful or unenforceable terms and conditions in contracts for consumer financial products or services.
The Federal Trade Commission (FTC) has recently submitted its annual report to the Consumer Financial Protection Bureau (CFPB), detailing its enforcement and related activities for 2023. This report covers the FTC’s efforts under the Truth in Lending Act (TILA), the Consumer Leasing Act (CLA), and the Electronic Fund Transfer Act (EFTA), reflecting the changes instituted by the Dodd-Frank Act.
To the likely surprise of providers of buy now, pay later (“BNPL”) financing, last week the Consumer Financial Protection Bureau (“CFPB”) issued an interpretive rule stating that BNPL products are actually “credit cards” under the Truth in Lending Act (TILA) and BNPL providers are “card issuers” and therefore “creditors” under, and subject to, Regulation Z.
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