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CFPB New Updated Rulemaking on Data Access and Portability

CFPB released an outline of proposed measures related to the Bureau’s Dodd-Frank Section 1033 rulemaking efforts that would allow consumers the rights over their personal financial data. The outline discusses proposed regulations that would require covered data providers.

White House Releases Guidance on AI | Sheppard Mullin Richter & Hampton LLP

The White House recently released its Blueprint for an AI Bill of Rights in an effort to guide the discussion on the design, use and deployment of AI in systems that impact the American.

CFPB Addresses Bank Junk Fees For Unexpected Overdrafts

CFPB issued guidance to help banks avoid charging illegal overdraft fees on consumer deposit accounts. In Circular 2022-06, Bureau stated that overdraft fees assessed by financial institutions on transactions a consumer would not reasonably anticipate likely violate CFPA.

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