CFPB Issue Spotlight Analyzes “Artificial Intelligence” Chatbots in Banking -
"Poorly deployed chatbots can impede customers from resolving problems."
Why this is important: The Consumer Financial Protection Bureau...more
7/11/2023
/ Artificial Intelligence ,
Automotive Loans ,
Banking Sector ,
Borrowers ,
Bots ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit Cards ,
Credit Reports ,
Customer Service Standard ,
Debt Collection ,
Delinquency Status ,
Fair Credit Billing Act (FCBA) ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Financial Institutions ,
Financial Services Industry ,
Landlords ,
Tenants
CFPB -
Regulators Take Aim at AI to Protect Consumers and Workers -
“In the past year, the Consumer Finance Protection Bureau said it has fined banks over mismanaged automated systems that resulted in wrongful home...more
6/12/2023
/ Artificial Intelligence ,
Automotive Loans ,
Banking Sector ,
Bots ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Economic Sanctions ,
Equal Employment Opportunity Commission (EEOC) ,
Fake Online Accounts ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
Legislative Agendas ,
Russia ,
Student Loans
Data Breaches
Pennsylvania Settlements with Experian and T-Mobile
Why this is important: Pennsylvania’s Attorney General, Josh Shapiro, announced on Monday, November 7, 2022, that Pennsylvania entered into settlements...more
CFPB Invokes Dormant Authority to Examine Nonbank Companies Posing Risks to Consumers and CFPB Claims Oversight Over More Entities Including Fintechs; Says It Will Publish Supervisory Determinations -
"The CFPB is also...more
Here are 5 Changes Student Loan Borrowers Could See in 2022 -
"Experts say that if student loan forgiveness is going to happen, it will likely be before the midterm elections."
Why this is important: During the last...more
Millions of Consumers have Cut Their Debts, So Why are Financial Experts Sounding Alarm -
"And with stimulus payments a thing of the past and other unusual financial stabilization programs unwinding, the alerts are going...more
11/17/2021
/ Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Cryptocurrency ,
Financial Services Industry ,
Forbearance Agreements ,
Mortgages ,
Payment Systems ,
Stablecoins ,
Student Loans
Biden Administration Extends Student Loan Pause Until January 31, 2022 -
"The Department believes this additional time and a definitive end date will allow borrowers to plan for the resumption of payments and reduce the...more
9/21/2021
/ Banking Sector ,
Biden Administration ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Fair Credit Reporting Act (FCRA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Housing Market ,
Interest Rates ,
Military Service Members ,
Payday Loans ,
Securities and Exchange Commission (SEC) ,
Small Dollar Lenders ,
Student Loans
Mobile Payment App Complaints are Surging as More Americans Go Cashless -
"Top complaints include trouble with digital wallets, scams and customer service issues."
Why this is important: Roughly four in five Americans...more