Today, the Consumer Financial Protection Bureau (CFPB or Burau) released its annual report detailing the financial challenges faced by servicemembers, veterans, and military families. In 2023, this group submitted nearly 84,600 complaints to the CFPB, representing a 27% increase from 2022 and a 98% increase from 2021. The report highlights issues with student loan servicing, transcript withholding by educational institutions, and a rise in scams targeting older veterans.
In a recent ruling, the District of Colorado granted several motions to dismiss filed by the developers and owners of cryptocurrency application Atomic Wallet, citing a lack of personal jurisdiction. This decision effectively ends a class action litigation involving the alleged theft of cryptocurrency assets by North Korean hackers.
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
On September 9, the U.S. District Court for the District of Nevada granted summary judgment in favor of a debt collector in a case involving alleged violations of the Fair Debt Collection Practices Act (FDCPA) and the Telephone Consumer Protection Act (TCPA) based on phone calls the plaintiff received related to her medical debt.
On August 27, U.S. Senator Mike Rounds (R-SD) introduced the “Unleashing AI Innovation in Financial Services Act” (S. 4951), a bill aimed at fostering artificial intelligence (AI) innovation within the financial services industry. According to his press release, this legislation is part of a broader set of five bipartisan AI bills that Senator Rounds has released for consideration by Congress this fall.
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
In a recent ruling, a U.S. District Court for the Central District of California granted a defendant’s motion to dismiss a complaint brought under the Telephone Consumer Protection Act (TCPA). The complaint alleged that the plaintiff received multiple communications from the defendant despite not having provided prior consent and being on the National Do-Not-Call Registry. The court found that the communications were not “solicitations” under the TCPA because the messages were aimed at recruiting the plaintiff for employment and that the complaint insufficiently alleged that the defendant used an automated telephone dialing system (ATDS) or that the voicemail was prerecorded.
In the latest episode of The Crypto Exchange, host Ethan Ostroff is joined by Addison Morgan to discuss a groundbreaking initiative by the California Department of Motor Vehicles (DMV) to digitize 42 million car titles using the Avalanche blockchain network. This move allows users to claim, track, and manage digital titles via the DMV’s application, reducing transfer times from two weeks to just minutes.