Happy “Labor …” More Privacy Rights for Employees: California Legislature Closes Session Without Extending Employee and B2B Data Exemptions Under the CCPA

As summer nears its end, uncertainty and complexity lie ahead for many companies as they evaluate how to operationalize compliance with the California Privacy Rights Act (CPRA), existing California employment laws and potentially the passage of a federal privacy law, the American Data Protection and Privacy Act, H.R. 8152 (ADPPA), that may preempt some but not all rights under the CCPA and the CPRA.  To increase the headache for companies doing business in California, two business friendly exemptions are set to expire at the end of the year.

FTC to Host Forum on September 8 on Commercial Surveillance and Lax Data Security Practices

The Federal Trade Commission is hosting a public forum regarding its Advanced Notice of Proposed Rulemaking (ANPR) on commercial surveillance and data security practices that harm consumers and competition.

President Biden Extends Statute of Limitations for PPP and EIDL Fraud to Ten Years

In August, President Biden signed two bills into law that give the Department of Justice and other federal agencies more time to investigate and prosecute Paycheck Protection Program (“PPP”) and COVID-19 Economic Injury Disaster Loan (“EIDL”) cases. H.R. 7352, the “PPP and Bank Fraud Enforcement Harmonization Act of 2022” and H.R. 7334, the “COVID-19 EIDL Fraud Statute of Limitations Act of 2022” extend the statute of limitations for fraud charges involving PPP and EIDL fraud to ten years.

Wawa Inc. Settles Multi-State AG Breach Investigation for $8 Million

On July 26, 2022, the attorneys general of New Jersey, Pennsylvania, Delaware, Maryland, Virginia, Florida and Washington D.C. announced an $8 million multistate settlement with Wawa Inc. that resolves the states’ investigation into a 2019 data breach that compromised approximately 34 million payment cards used by consumers at Wawa stores and fueling locations. 

U.S. Bank CEOs Say Consumers and Businesses Are Still in Good Shape

NEW YORK (Reuters) - U.S. consumers and businesses are still in good financial shape despite high inflation and concerns about a looming recession, some of the nation's top bankers told a conference in New York on Tuesday.

Fourth Circuit Changes Rule on Finality of Court Ordered Dismissal of Claims without Prejudice

On 17 August 2022, the U.S. Court of Appeals for the Fourth Circuit (the Fourth Circuit) issued an opinion in Britt v. Dejoy¹  adopting a new rule regarding the court’s jurisdiction over appeals from a district court’s dismissal of a case without prejudice.

Rumored Regulation E, EFTA expansion from CFPB is ‘unwise, unlawful’

The Consumer Financial Protection Bureau’s (CFPB) rumored plan to expand Regulation E and the Electronic Fund Transfer Act (EFTA) is unlawful, would contravene the bill’s text, and would run afoul of the Administrative Procedures Act, CUNA wrote to the CFPB Tuesday.

Concerned about deceptive ads and sales of autos? Last call for comments

The FTC is working to address deceptive advertising and unlawful add-on sales in the auto industry by considering changes to the law that would give the agency better tools to protect consumers and honest dealerships. Want to help? Don’t wait! Submit a comment on the rulemaking and make your voice heard.

Beware of scammers pretending to be from the CFPB

This week we confirmed that scammers are using CFPB employee’s names and imagery to try and steal your money. We’ve heard from people, specifically older adults, who were defrauded thousands of dollars from scammers pretending to be with the CFPB. If someone contacts you and says you’ve won a class-action lawsuit in a foreign country, or can receive other large, unexpected amounts of money, but must use the CFPB’s assistance to claim the funds, they are lying.

CFPB Finds UDAAP Violations on Garnishment Practices

In early May 2022, the Consumer Financial Protection Bureau (CFPB) entered into a consent order with Bank of America, N.A. (BoA) regarding BoA’s garnishment practices. While BoA did not admit or deny the facts or conclusions of law presented in the consent order, it agreed to refund or cancel at least $592,000 in garnishment-related fees paid by affected customers, to pay a civil money penalty of $10,000,000, to review and reform its garnishment-related practices, and to cease including language in consumer-facing contracts that attempted to limit consumers’ right to challenge garnishment.

If you used U.S. Equity Advantage’s auto loan Payment Accelerator Program, a check may be on the way

Obtaining consumer redress is a top priority in any enforcement action, and when the CFPB enforces the law, we or a court may require the person or company to compensate its victims for this harm by providing consumer redress out of its own funds. In certain circumstances, when the person or company doesn’t have sufficient funds, however, the CFPB uses a victims relief fund (also known as the Civil Penalty Fund) to compensate victims who haven’t received full compensation for their harm through redress paid by the defendant in their case. Learn more about the victims relief fund and other distributions.

NCUA Grants Will Allow Low-Income Credit Unions to Expand Service, Build Capacity

ALEXANDRIA, Va. (Sept. 1, 2022) – The National Credit Union Administration has awarded more than $1.5 million in Community Development Revolving Loan Fund grants to help 90 low-income credit unions expand outreach to underserved communities, participate in mentoring relationships, receive training, and improve digital services and security.

Apple Pay Later raises concerns over lack of BNPL regulations, CFPB says

Apple's plan to expand its fintech footprint into buy now, pay later (BNPL) with its Apple Pay Later product has the Consumer Financial Protection Bureau (CFPB) concerned over what impact big tech’s entrance will have on the space. 

$3 million FTC settlement disapproves of Credit Karma’s deceptive “pre-approved” claims

In the annals of marketing, “pre-approved” ranks right up there with “free” and “low-calorie” as a term guaranteed to attract people’s attention. The FTC just announced a $3 million proposed settlement with Credit Karma for allegedly luring consumers in with deceptive promises they had been “pre-approved” for financial products, including major credit cards. The truth? For many of these offers, almost a third of the people who received a “pre-approved” offer from Credit Karma and went to the time and trouble to apply for it were denied.

KeyBank Announces Third-Party Data Breach Following Incident at Third-Party Vendor, Overby-Seawell Company

On August 26, 2022, KeyBank reported a data breach with the Attorney General of Montana and several other government entities stemming from what appears to have been an incident at a third-party vendor. According to KeyBank, the breach resulted in the names, mortgage information, phone numbers, property information, home insurance information and partial Social Security numbers of certain borrowers being compromised.

CFPB Report Offers Cautionary Take on FinTech Platforms That Consumers Value

In case it’s unclear to anyone at this point, the Consumer Financial Protection Bureau (CFPB) is on edge about new payment types taking the markets by storm, concerns over which are spelled out in an August report that reads like part overview and part consumer warning.

CFPB Report Details Family Finances and Debt in Rural Appalachia

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) has issued the first in a series of reports focusing on the finances of consumers living in rural areas. Today’s report focuses on rural Appalachians, who tend to earn less than consumers in other rural areas and have higher rates of subprime credit. In particular, medical debt collections are a much more prevalent issue among rural Appalachians, and consumers with medical debt collections often experience difficulties making ends meet on other financial obligations.

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2022 Washington DC Regional Event

RMAI once again combines advocacy, education, and baseball to hit a networking home run – this time in Washington, D.C. RMAI regional events have changed from year to year, but they always sell out, so reserve your sponsorship and register early.

Fall Forum 2022

ACA International

RMAi 2023 Annual Conference

Join us in Las Vegas, February 6-9, for the 2023 RMAI Annual Conference. Registration opens October 3, 2022.