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May

3
2024
Industry News

New Safeguards Rule Requirement on Data Breach Reporting Coming Soon

A new data breach disclosure requirement under the Federal Trade Commission’s Safeguards Rule goes into effect May 13, 2024. The amendment requires non-bank covered entities to report breaches involving the information of at least 500 consumers to the FTC within 30 days of the event.

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May

3
2024
Industry News

House OKs Bill To Block Some Residents’ Medical Debt From Credit Agencies

HARTFORD, CT – The House Thursday passed a bill to prohibit healthcare providers from reporting some patients’ medical debt to credit agencies after debate over whether elective procedures should be covered.

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May

3
2024
Trends

Bankruptcies Rise 16 Percent Over Previous Year

Bankruptcy filings rose 16 percent during the 12-month period ending March 31, 2024. That is a similar rate of acceleration as in the Dec. 31, 2023, quarterly report, but new bankruptcy cases remain significantly lower than before the start of the coronavirus (COVID-19) pandemic.

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May

3
2024
Industry News

Colorado rate exportation litigation: Why Colorado and the FDIC are wrong about where a loan is made for purposes of DIDMCA Section 525

Last week, we blogged about arguments by Colorado and the FDIC in their briefs opposing a motion for preliminary injunction that would enjoin application of Colorado’s opt-out statute with respect to loans by FDIC-insured state banks located outside of Colorado.

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May

3
2024
Trends

As Consumers’ Debt Burdens Rise, Government Agencies Have Opportunities to Better Assist Them with Key Services

U.S. consumers’ median minimum monthly debt payments grew by 32% between 2020 and 2023 – surpassing the rate of inflation (18%) during the same time. As consumer debt obligations continue to rise, a new TransUnion (NYSE: TRU) public sector study explores ways government agencies can better assist their constituents.

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