This week, AFSA joined other organizations in expressing concerns with the American Privacy Rights Act (APRA) as drafted. AFSA supports a national standard for data privacy, but the legislation in its current form would not best serve consumers.
The letter highlights the importance of including full preemption in any national privacy framework. Full preemption is essential for protecting Americans’ data privacy and providing an environment for American businesses to continue innovating and creating jobs. Since 2018, the rapidly growing landscape of state-level privacy laws has created a fragmented patchwork of rules and regulations.
Resources that would normally go toward creating jobs, protecting consumers, and improving products and services are instead being spent on navigating these compliance challenges. According to a study by the Information Technology and Innovation Foundation, failing to pass a comprehensive and preemptive federal data privacy law will cost our economy more than $1 trillion over ten years, with $200 billion being paid by small businesses.
This week, AFSA joined other organizations in expressing concerns with the American Privacy Rights Act (APRA) as drafted. AFSA supports a national standard for data privacy, but the legislation in its current form would not best serve consumers.… Read the rest
“We shall overcome because the arc of the moral universe is long, but it bends toward justice.” –Dr. Martin Luther King Jr.
Juneteenth is a commemoration of the ideals of equality, justice, and freedom, which we strive to perfect for all. In… Read the rest
Today, the CFPB released a “Data Spotlight,” which focused on an analysis of negative equity data from a group of auto finance entities. As background, in February 2023 the Bureau announced a pilot data project and issued nine market monitoring… Read the rest
This week, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified before the Senate Banking Committee and the House Financial Services Committee for his semi-annual report to Congress.
In both, Director Chopra focused… Read the rest
The Consumer Financial Protection Bureau (CFPB) today announced a Notice of Proposed Rulemaking(NPRM) aimed at addressing the reporting of medical bills on credit reports. This initiative follows the CFPB’s September 2023 announcement… Read the rest
The featured Business Partner for the month of June is Fortegra.
For more than 40 years, Fortegra and its subsidiaries have delivered risk management solutions that help people and businesses succeed in the face of uncertainty.
Our diverse
…
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Today, the Consumer Financial Protection Bureau finalized a proposal to create a nonbank registry related to enforcement matters. The final rule requires certain nonbank entities to register information about their company and certain… Read the rest
Alfa, a leading provider of enterprise software for the automotive finance industry, has announced the release of Scalability, the fourth of six releases that make up Alfa Systems 6 – a breakthrough iteration of its Alfa Systems software… Read the rest
Today, the U.S. Supreme Court handed down its ruling in the much-anticipated Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA) case that challenged the CFPB’s independent funding… Read the rest
As our industry adapts to the evolving financial and economic landscape while seeking to capitalize on emerging opportunities, broadening the pool of capital providers and expanding funding options is top of mind.
Join our all-star panel… Read the rest
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