Funding for a portion of the federal government expired on December 21, 2018, beginning a partial federal government shutdown. As the shutdown continues into its fourth week, businesses and consumers alike are feeling the effects in a big way. Here’s how services are being impacted at three key regulatory agencies. Consumer Financial Protection Bureau (CFPB) [...]
Over the past year, the realm of data privacy has drastically changed as consumers and regulators alike focus more intently on protecting the information individuals share with businesses. During the course of 2018 alone, large-scale data breaches such as those affecting Facebook, Equifax, Yahoo, and Marriott impacted hundreds of millions of consumers. In 2019, businesses [...]
Now that midterm election season is over and the dust has settled, many states are starting the transition process and welcoming in new administrations. But some of the most important political changes can be found outside of the electoral process, in the form of newly appointed attorneys general-elect. Wyoming Governor-elect Mark Gordon, a Republican, announced [...]
The Senate confirmed Kathy Kraninger (50-49) today as the new director of the Bureau of Consumer Financial Protection (BCFP). Kraninger, who has worked as associate director for the Office of Management and Budget (OMB) since March 2017, will serve a five-year term. Kraninger will succeed acting BCFP director Mick Mulvaney. President Trump appointed Mulvaney to [...]
Yesterday, California Governor Jerry Brown signed SB 1121 into law amending the California Consumer Privacy Act of 2018 (“CCPA”). Since the original CCPA (previously discussed here) was passed in June, interested parties have criticized many aspects of the law and advocated for pre-implementation improvements. SB 1121 is intended to correct many of those issues. CA [...]
The Bureau of Consumer Financial Protection (BCFP) has issued an interim final rule updating two model disclosures under the Fair Credit Reporting Act (FCRA). Following the Equifax data breach and consumer concerns about the security of information in their credit reports, Congress passed the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) requiring nationwide [...]
The U.S. Department of Justice (“DOJ”) filed its first ever Servicemembers Civil Relief Act (“SCRA”) lawsuit against a residential landlord company on September 11, 2018. In its complaint against Twin Creek Apartments, LLC d/b/a Pavilion at Twin Creek (“Twin Creek”), the Government alleged that Twin Creek illegally charged service members a fee when they terminated [...]
The Bureau of Consumer Financial Protection (BCFP) has settled with Triton Management Group, Inc. (Triton), a small dollar lender operating under the names “Always Money” and “Quik Pawn Shop.” Triton offers high-cost, short-term loans including payday, auto title pledge, and installment loans primarily to consumers for personal, family, or household purposes. The Consent Order alleges [...]
California recently passed a privacy law requiring businesses to provide greater transparency into their data practices and giving consumers more control over their personal information. The California Consumer Privacy Act of 2018 (CCPA) raced its way through the state legislature without opposition to avoid a November ballot initiative, which was widely viewed as more onerous [...]
Most states have laws regulating “automatic renewal contracts” (ARC), but Vermont’s new House Bill 593 is one of the strictest. The Act, which updates Vermont’s current ARC laws, became law on May 28, 2018. The new regulatory requirements will take effect on July 1, 2019 and are aimed at protecting consumers from deceptive business practices. [...]
