Authorized fraud occurs when a legitimate party initiates a payment only to have a bad actor intervene and hijack the funds. Unauthorized fraud, on the other hand, happens when bad actors initiate or redirect a payment through an account takeover or by stealing account-holder credentials.
Small businesses across the U.S., already enduring economic uncertainties, now face another hurdle on the horizon. As June 2024 approaches, the expiration of the Subchapter V debt limit threatens to alter the landscape for struggling small business debtors.
On July 1, 2024, the “junk fee” amendment to the California Consumers Legal Remedies Act (CLRA) will go into effect. Under this new provision, it will be a violation of the CLRA if a company advertises, displays, or offers goods or services at a price, but does not disclose all mandatory fees or charges when displaying the price.
As reported on Monday (May 13), the Federal Reserve Bank of New York’s Center for Microeconomic Data detailed that, per the April Survey of Consumer Expectations, inflation’s expected to be higher one year from now, slightly lower at the three year mark, and then higher than had been seen previously for the five year horizon.
Wisconsin Act 267, signed into law April 4, requires collection agencies to maintain their license on the NMLS and takes effect Jan. 1, 2025.
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