Planning for success in today’s digital landscape requires a clear understanding of client needs, along with the right amount of creative thinking to understand where to invest in innovation. As we partner with leading enterprise brands to plot their path to a successful 2025, our Carat team at Fiserv is centered on delivering solutions that help our clients enhance the end-customer experience. Our approach is to apply intense focus on what the optimal experience should look like and then work backward from that point with our clients to ensure we’re helping them succeed with innovative tools and solutions.
The Consumer Financial Protection Bureau (CFPB) and the Centers for Medicare & Medicaid Services (CMS) are increasing efforts to protect low-income Medicare beneficiaries from improper medical billing practices. For those working in the debt collection industry, understanding these protections is crucial to ensuring compliance and avoiding potential challenges related to collecting medical debts.
California Gov. Gavin Newsom has signed legislation covering a range of consumer protection issues. The bills aim to “strengthen protections for consumers, addressing issues that have put financial strain on Californians while setting new standards for transparency and accountability across industries.”
On November 12, the CFPB released a report analyzing federal and state-level privacy protections for consumer financial data. The current federal framework for financial data privacy relies on the Gramm-Leach-Bliley Act (GLBA) and the Fair Credit Reporting Act (FCRA), along with their respective implementing regulations. The report contends that the GLBA primarily focuses on disclosures and opt-out options, which may be insufficient for current data surveillance challenges.
The Fifth Circuit Court of Appeals has denied a request by the Community Financial Services Association of America (CFSA) to hold a rehearing en banc on the group’s challenge of the CFPB’s payday loan rule.
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