The FTC and CFPB released agency-specific action statements on increasing tech capacity, including actively hiring technologists, to "help enforce the laws on the book and design remedies that work for consumers, workers, small businesses, and others in the digital era."
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In a jointly issued investor alert, the SEC Office of Investor Education and Advocacy, the North American Securities Administrators Association and FINRA warned investors of the increased risks of fraud involving "the purported use of artificial intelligence and other emerging technologies."
The FTC set an effective date of May 13, 2024 on a final rule amending the "Standards for Safeguarding Customer Information."
The Federal Trade Commission proposed a new rule to combat "junk fees." The CFPB issued an advisory opinion clarifying financial institution obligations to respond to consumers' account requests and provide information on fees and charges.
The FTC proposed amendments to "redesign" the premerger notification process to improve the "efficiency and effectiveness" of the initial review process for certain mergers and acquisitions.