The Federal Trade Commission today highlighted actions taken to protect consumers from impersonations scams since the Government and Business Impersonation Rule took effect in April 2024. Scams impersonating businesses and government are consistently among the top frauds reported to the FTC; these scams resulted in $2.95 billion in consumer losses in 2024.
With the rise of digital financial solutions, it's crucial for collections executives at banks, lenders, and agencies to explore new channels that improve recovery rates and customer interaction. One promising approach is working with debt settlement companies in an automated or bulk fashion, streamlining the process and maximizing efficiency.
The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in January 2025.
Our special podcast show today deals primarily with a 112-page opinion and 3-page order issued on March 28 by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia in a lawsuit brought, among others, by two labor unions representing CFPB employees against Acting Director Russell Vought. The complaint alleged that Acting Director Vought and others were in the process of dismantling the CFPB through various actions taken since Rohit Chopra was fired and replaced by Acting Director Scott Bessent and then Acting Director Russell Vought.
Cisco released its 2025 Data Privacy Benchmark Study. The report looks at global trends in data privacy and how they affect businesses. The study gathered responses from 2,600 privacy and security experts in 12 countries. It highlights the need for strong data privacy practices to fully benefit from AI.
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