A proposed class action lawsuit has been filed in the U.S. District Court for the Northern District of California against EarnIn, a FinTech provider of Earned Wage Access services, alleging that its optional fees and tips constitute hidden interest payments. The complaint claims that EarnIn’s practices violate Georgia’s Payday Loan Act and the federal Truth in Lending Act (TILA).
The FCC announced a settlement to resolve its enforcement action against Lingo Telecom that transmitted spoofed robocalls that used generative AI voice cloning technology to spread disinformation in connection with a presidential primary election in NH.
On July 2, the California Department of Financial Protection and Innovation (DFPI) was advised that Patelco Credit Union was subjected to a ransomware attack on June 29, 2024. On August 20, Patelco noticed its members that confidential information may have been exposed due to the attack.
On August 22, 2024, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Consumer Financial Protection Bureau, the Federal Housing Finance Agency, the Commodity Futures Trading Commission, the Securities and Exchange Commission, and the Department of Treasury (collectively, the agencies) published in the Federal Register a joint notice of proposed rulemaking to implement the Financial Data Transparency Act of 2022 (FDTA).
The Consumer Financial Protection Bureau (CFPB) today ordered Fay Servicing to pay a $2 million penalty for violations of mortgage servicing laws, as well as for violations of a 2017 agency order that addressed its illegal foreclosure practices. The company failed to implement the order’s requirements and continued to break the law.
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