The Consumer Financial Protection Bureau (CFPB) published a report on November 12, 2024, examining state and federal privacy protections for consumer financial data
Fraud attacks are at an all-time high. According to the FTC, in 2023, U.S. consumers reported losing more than $10 billion to fraud, a 14% increase over 2022 and the highest dollar amount ever reported.
Approximately one year after the Colorado Privacy Act (CPA) Rules went into effect, the Colorado Attorney General proposed draft amendments to reflect recent changes to the CPA. Recall that the CPA applies to "controllers" that conduct business in Colorado or produce or deliver commercial products or services that are intentionally targeted to Colorado residents.
Consumer financial services partner Darren Welch joined Joseph Kamyar for the latest episode of “Fintech Focus” to discuss AI safety in fair lending and consumer protection. Tune in to the podcast to hear how U.S. regulators are reacting to the increased use of AI in this context, how lenders can mitigate risk and what we’re starting to see at the state level regarding AI protection laws.
Late last year, we discussed the Federal Communications Commission’s (FCC) new rule aimed at closing the “lead generator” loophole by requiring telemarketers to obtain one-to-one consent from consumers for robocalls and robotexts. This rule mandates that consent must be provided for each individual seller or brand, rather than allowing a single consent to apply to multiple telemarketers.
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