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Results 1 - 10 of 204 |
Posted Date: Friday, March 8, 2024
More than 60,000 comments have been submitted concerning the Federal Trade Commission’s proposed rule on “junk fees” from all corners of the business world. The proposed rule prohibits companies from excluding mandatory fees from advertised prices, asserting that doing so misleads consumers about the total cost of products and services. Read on »
Posted Date: Tuesday, March 5, 2024
Federal regulators weighed in on whether “convenience fees” charged by a mortgage servicing company are unfair to consumers. The Consumer Financial Protection Bureau and the Federal Trade Commission submitted arguments consistent with their ongoing campaign against illegal “junk fees” in an advisory opinion followed by a recent amicus brief. Read on »
Posted Date: Friday, February 23, 2024
The rise of artificial intelligence sophisticated enough to impersonate individuals has led to a surge in complaints about fraud and other consumer harm. In response, the Federal Trade Commission issued a supplemental notice of proposed rulemaking to strengthen anti-fraud measures included in its recently finalized Government and Business Impersonation Rule. Read on »
Posted Date: Tuesday, February 20, 2024
Struggling homeowners victimized by a mortgage relief scam can rest easier following a California district court’s ruling finding the perpetrators liable for approximately $19 million in combined penalties and restitution. Read on »
Posted Date: Tuesday, February 20, 2024
A lender faces a class action lawsuit for its response to a ransomware attack that compromised nearly 285,000 customers’ sensitive personal identifying information. The suit claims Planet Home Lending failed to notify customers of the data breach in a timely manner, waiting more than two months before issuing notices to affected consumers. Read on »
Posted Date: Tuesday, February 13, 2024
The Federal Financial Institutions Examination Council released principles intended to help member entities determine whether a supervised institution’s residential property valuation practices are adequate for identifying and mitigating discrimination or bias. Read on »
Posted Date: Tuesday, February 13, 2024
From appraisal bias to redressing consumers harmed by a tech support scam, federal regulators have remained busy in recent weeks. Find out details about these topics and more in this week’s regulatory roundup. Read on »
Posted Date: Friday, February 9, 2024
Trade advocates for community banks described their concerns to federal regulators in letters to the Federal Trade Commission and the Federal Deposit Insurance Corp. regarding their respective proposed rules. Learn about these matters and more in this roundup. Read on »
Posted Date: Tuesday, February 6, 2024
The Senate Banking Committee explored concerns about the risks posed by fraudsters and cyber criminals who target financial institutions during a recent hearing on the prevalence of ransomware attacks, phishing attacks, check fraud, spoofing and other common types of fraud, as well as the methods used to execute them. Read on »
Posted Date: Tuesday, January 16, 2024
Federal regulators have been busy publishing newly updated information, compliance evaluations and penalty amounts. Get a sampling of the latest news that may not make the mainstream headlines but is important for financial institutions to have on their radar. Read on »
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