Legal News

Susannah Snider, CFP®, August 29, 2022 When it comes to the question of whether Americans are in a recession –or headed for one in the near future – financial advisors are pessimistic. In a survey of close to 300 financial advisors who…

The Associated Press, August 29, 2022 NEW YORK (AP) — Walmart filed a motion on Monday to dismiss a lawsuit by the Federal Trade Commission in June that accused the nation’s largest retailer of allowing its money transfer services to…

Matt Egan, August 22, 2022 The Federal Reserve is unlikely to tame inflation without pushing the American economy into a recession, according to a survey of economists released Monday. Seventy-two percent of economists polled by the National Association of Business…

James E. Dionne , 22 August 2022 On August 11, 2022, the Consumer Financial Protection Bureau published a Consumer Financial Protection Circular taking the position that providing “[i]nadequate security for the sensitive consumer information collected, processed, maintained, or stored by ……

Moorari Shah, A.J. S. Dhaliwal, Gabriel Khoury August 8, 2022 On July 27, CFPB Director Chopra was interviewed in multiple publications, here and here, about, among other topics, how the CFPB could seek to help mortgage borrowers strained by the…

Cynthia Larose, August 4, 2022 The new California privacy regulatory body, the California Privacy Protection Agency (CPPA), has loudly voiced its opposition to the proposed federal American Data Privacy and Protection Act (ADPPA). The bottom line for the unanimous opposition:…

April Lewis-Parks, July 22, 2022 If you’ve ever been late with a credit card payment and thought that late fee you got popped with was steep, you’re one of 42 million Americans [1] who will face that dilemma in 2022. Credit card…

Kate Berry, July 24, 2022 TransUnion, one of the three large credit bureaus, never wanted to be in litigation with its regulator the Consumer Financial Protection Bureau. But the Chicago-based credit reporting agency is fighting back in court after the…

Source: site The New York State Department of Financial Services (DFS) has issued an Industry Letter providing guidance on overdraft and non-sufficient funds (NSF) fees to depository institutions that it supervises. The DFS indicates that, through the supervisory process, it has identified…

Source: site On July 7, 2022, the Consumer Financial Protection Bureau issued an advisory opinion interpreting the “permissible purpose” provisions of the Fair Credit Reporting Act (FCRA). The advisory opinion states that consumer reporting agencies (CRAs) may not share consumer reports unless they…