Legal & Regulation

ANTITRUST
Apple CEO Tim Cook Warns New Antitrust Laws Will Put Consumer Privacy at Risk
April 12, 2022

Apple Inc. CEO Tim Cook used a speech to privacy professionals in Washington, D.C., to warn that proposed antitrust legislation will make iPhones less safe and put users at risk to companies seeking to elude its privacy features, The Wall Street Journal reported Tuesday (April 12). Get...

CFPB
CFPB Sues TransUnion, Sr Exec John Danaher, Alleging History of Deceptive Marketing
April 12, 2022

The Consumer Financial Protection Bureau (CFPB) on Tuesday (April 12) filed a lawsuit against TransUnion, two of its subsidiaries and longtime executive John Danaher for violating a 2017 law enforcement order related to alleged deceptive marketing on credit scores and credit products. Get the Full...

Legal & Regulation
FTC Chair Wants to Step up Privacy Protection With New Rules
April 12, 2022

Federal Trade Commission (FTC) Chair Lina Khan said on Monday (April 11) that it is time for the agency to “reassess” rules around what data companies can collect from consumers. She called for a new approach to consumer data protection to replace the companies’ privacy...

CFPB
70% of Complaints Filed With the CFPB Are About Credit or Consumer Reporting 
April 12, 2022

The Consumer Financial Protection Bureau (CFPB) published its semi-annual report on April 6, detailing everything what the agency has done for most of the last year. In a 100-page document, the agency explains its advocacy efforts to help consumers, the enforcement actions taken against companies and...

Legal & Regulation
US Treasury Weighs in on ‘Gig Worker’ Status Debate
April 12, 2022

The U.S. Treasury published a report on Thursday (April 7) titled “The State of Labor Market Competition” that summarized the impact of uncompetitive firm behavior in labor markets. The report discusses how excessive concentration in the market, non-compete agreements or the misclassification of workers may...

Bank Regulation
FDIC-Supervised Institutions Will Need to Report Crypto-Related Activities 
April 11, 2022

On Thursday April 7, the Federal Deposit Insurance Corporation (FDIC) announced that it will require all the institutions that it supervises to notify if they are engaged or intent to engage in any activity involving or related to crypto assets. The FDIC will review the...

CFPB
CFPB Closes ‘Junk Fee’ Consultation With Credit Card Late Fees in Sight
April 11, 2022

The Consumer Financial Protection Bureau (CFPB) is closing today, Monday 11, its deadline to submit comments on its public consultation on “junk fees” after receiving more than 25,000 comments in three months.  Get the Full Story Complete the form to unlock this article and enjoy...

ANTITRUST
Judge in Google Antitrust Case Says It’s Not Clear He Can Sanction Company for Abusing...
April 10, 2022

Judge Amit Mehta, the U.S. federal judge hearing the government’s antitrust case against Alphabet’s Google, said he isn’t convinced he can sanction the company for overzealous attorney-client privilege use, Reuters reported Friday (April 8). Get the Full Story Complete the form to unlock this article...

Legal & Regulation
FinCEN Praised Automated AML Systems, Digital Identity Solutions
April 08, 2022

The Financial Crimes Enforcement Network (FinCEN) has intensified its fight against money laundering for the last few years. But in this endeavor, the regulator relies on companies to establish solid anti-money laundering (AML) programs to detect illicit conducts and if they don’t have one, they...