The Consumer Financial Protection Bureau (CFPB) deleted at least 2,200 pages from its website in May, The Guardian reported Thursday (June 4). The content that was removed includes press releases, consumer advisories, congressional testimonies, speeches and blog posts, all of which was published before President...
One of the White House’s chief advisers on artificial intelligence (AI) is stepping down. Sriaram Krishnan, who joined President Donald Trump’s administration at the start of the second term, plans to remain on as an adviser, according to a Saturday (June 6) Bloomberg News report....
The United Kingdom’s Financial Conduct Authority said in a Friday (June 5) press release that it blocked international payments company Euro Exchange Securities from carrying out any regulated electronic money or payment services due to the regulator’s concerns about risks of financial crime. The FCA...
The Consumer Financial Protection Bureau (CFPB) released a statement Friday (June 5) reminding creditors that when they assess consumers’ ability to repay mortgages and certain open-end credit products, they must consider their immigration status. This consideration is part of creditors’ requirements under the Truth in Lending Act and its implementing Regulation...
Credit unions are celebrating the seeming demise of Colorado’s swipe fee legislation. Colorado Gov. Jared Polis on Wednesday (June 3) vetoed a bill that would have reduced the fees businesses pay card companies for each charge they process. State law bases swipe fees on a...
Bank regulators in the United States are headed to Congress to tout the benefits of deregulation. Their argument is that scaling back banking rules and oversight will spark economic activity without creating more systemic financial risks, Reuters reported Thursday (June 4). Chief regulators from the...
A New York bill that would restrict the ability of investors to purchase certain claims involving debt issued or guaranteed by foreign governments for the purpose of filing lawsuits was passed by the state Senate and sent to the Assembly on Tuesday (June 2). The...
The Supreme Court reportedly wants White House feedback on a case involving Robinhood’s 2021 IPO. As Reuters reported Monday (June 1), the court is deciding whether to hear Robinhood’s request to quash a lawsuit that accuses the company of misleading investors. The online financial platform...
Florida filed a civil lawsuit against OpenAI and CEO Sam Altman, alleging that they endanger children and deceive parents into believing that ChatGPT is safe for use. “It’s clearly not,” Attorney General James Uthmeier said in a video shared in a Monday post on social...