FDIC Seeks Information on Improving Communications
The FDIC issued a Request for Information (RFI) seeking information on the FDIC’s communication methods and related initiatives to promote efficiency and increase transparency. The... Read More
Federal Regulatory Developments
Major Ride-Sharing Company Settles with States over 2016 Data Breach
A major ride-sharing company reached an agreement with the attorneys general of all 50 states and the District of Columbia to pay $148 million and... Read More
FTC Enters Consent Orders with Companies that Falsely Claimed to be Certified Under the EU-U.S. Privacy Shield
The FTC entered into consent orders with four separate companies which falsely claimed to be certified under the EU-U.S. Privacy Shield framework, which governs the... Read More
Major Social Media Company Data Breach Exposes the Personal Data of Users
On September 28, a major social media company announced a significant data breach, which exposed the personal data of at least 50 million user accounts.... Read More
Secret Service Warns of Internal ATM Skimming
The Secret Service has quietly warned financial institutions about an increase in the use of internal ATM card-skimming mechanisms used in conjunction with spy cameras... Read More
DOJ Says Businesses Have Flexibility in Complying with ADA Website Accessibility Requirements
The DOJ, responding to more than 100 House members calling for guidance and clarity regarding website accessibility requirements under the Americans with Disability Act (ADA),... Read More
No Charge for Credit Freezes and Fraud Alerts
Consumer reporting agencies are prohibited from charging consumers a fee to place or remove a security freeze on the consumer’s credit file or to place... Read More
Department of Commerce Seeks Public Comment on Data Privacy Rules
The National Telecommunications and Information Administration of the Department of Commerce published a notice on September 26, 2018, requesting public comment on “ways to advance... Read More
Freddie Mac Announces Changes to the Single-Family Seller/Servicer Guide
Freddie Mac announced it made changes to the rules regarding authorized user accounts, super conforming mortgages, the automated cash specified payups process, and the evaluation... Read More
NCUA Board Approves Proposed Rule to Change Appraisal Requirement Threshold and Exempt Certain Transactions
On September 20, 2018, the National Credit Union Administration (NCUA) Board approved a proposed rule amending the agency’s real estate appraisal requirements for certain transactions.... Read More
BCFP Updates Two FCRA Model Forms to Include Notice of Security Freeze Rights
The BCFP recently published, and requested comments on, an interim final rule updating FCRA’s Summary of Consumer Identity Theft Rights and Summary of Consumer Rights... Read More
Fannie Mae Updates Servicer Requirements for Reverse Mortgages
Fannie Mae released an update to the Reverse Mortgage Loan Servicing Manual on September 18, 2018, relieving servicers of post-foreclosure sale responsibilities. The new changes... Read More
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