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February

13
2025
Compliance

Mixed Signals: Why Auditing Third-Party Vendors is a Must

A roadside sign displaying both “Speed Limit 25” and “Speed Limit 35” sends a mixed message. The main point may be clear to some—there’s road construction ahead, so slow down. But the conflicting limits create confusion. Is the speed limit 25 or 35? Or, as my husband so sarcastically put it, I would probably think it meant to add them together for a speed limit of 60. Wow. Harsh… but also, knowing myself, not entirely inaccurate.

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February

12
2025
Industry News

FDIC Acting Chairman Hill Supports Modernizing Customer Identification Program Requirements

In a recent letter to Andrea Gacki, Director of the Financial Crimes Enforcement Network (FinCEN), Federal Deposit Insurance Corporation (FDIC) Acting Chairman Travis Hill expressed his support for updating the Customer Identification Program (CIP) requirements to better align with modern financial services practices. This initiative is part of Hill’s broader commitment to regulatory reform and innovation, as outlined in his recent policy statements.

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February

12
2025
Compliance

State authorities stepping up consumer protection efforts

In the wake of recent federal directives diminishing the Consumer Financial Protection Bureau (CFPB), state authorities are increasingly stepping in to uphold consumer protections. Michigan Attorney General Dana Nessel has been at the forefront of this movement, emphasizing the CFPB’s significant contributions and reaffirming her office’s commitment to safeguarding Michigan residents.

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February

12
2025
Industry News

FTC Finalizes Order with DoNotPay That Prohibits Deceptive 'AI Lawyer' Claims, Imposes Monetary Relief, and Requires Notice to Past Subscribers

The Federal Trade Commission has finalized an order requiring DoNotPay, a company that promoted its online subscription service as “the world’s first robot lawyer,” to stop making deceptive claims about the abilities of its AI chatbot.

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February

12
2025
Compliance

Who Is the Collection G.O.A.T?

FYI… G.O.A.T. means Greatest of All Time.  I find it funny how everyone loves to identify the G.O.A.T. in every walk of life. There is a G.O.A.T. for every sport, author, singer, actor, and I would imagine even clubs and communities across the country. The debate usually focuses on someone currently excelling, but what about those who changed the game in their time? Simone Biles is widely considered the gymnastics G.O.A.T., but what about Olga Korbut? She revolutionized the sport in her era.

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