The executive branch’s hidden agenda
How agencies use guidance to flout congressional safeguards on rulemaking.
How agencies use guidance to flout congressional safeguards on rulemaking.
A proposed FDIC rule to establish new guidelines for governance and risk management at supervised banks with at least $10 billion in consolidated assets would undermine the safety and soundness of covered institutions and the industry as a whole, ABA and 52 state bankers associations said.
ABA urged Congress to pass legislation to ban the practice of credit reporting firms selling consumer contact information to lenders who then barrage those same consumers with unwanted solicitations.
The FCC issued a declaratory ruling concluding that speech generated by artificial intelligence falls under the Telephone Consumer Protection Act’s restriction on telephone calls using an “artificial or prerecorded voice.”
FinCEN proposed a new rule to require certain professionals involved in real estate closings and settlements to report information to the agency about non-financed transfers of residential real estate to legal entities or trusts.
ABA and seven trade associations urged the FCC to protect the ability of banks to place critical calls—such as fraud alerts—as the agency reconsiders its rules regarding a customer’s right to revoke consent to receive autodialed or prerecorded voice calls.
The Department of Commerce announced the creation of the U.S. AI Safety Institute Consortium, an advisory group with representatives from more than 200 businesses and organizations tasked with exploring the development and deployment of safe artificial intelligence technologies.
A proposed credit card routing mandate bill would result in the transfer of billions of dollars from consumers to the nation’s largest retailers, with small businesses seeing little to no benefit, according to new research.
A Federal Trade Commission proposal to prohibit unfair or deceptive practices relating to fees for goods or services risks creating substantial confusion about the cost of financial products and exceeds the agency’s statutory jurisdiction, ABA and the Consumer Bankers Association said.
The National Credit Union Administration is planning to require credit unions with more than $1 billion in assets to report their overdraft fees and nonsufficient fund fees, NCUA Chairman Todd Harper said.