The CFPB reminded consumer reporting companies of their obligations under the Fair Credit Reporting Act to (i) address inaccurate information found in background checks, (ii) monitor for improper credit file sharing and (iii) ensure that background check information is accessible to consumers.
News & Insights
The Congressional Research Service reviewed a CFPB-proposed rule to improve consumers' rights to access and transfer their financial information.
The SEC set an effective date for Privacy Act amendments of October 26, 2023. The effective date was published in the Federal Register.
The SEC amended Privacy Act regulations that are applicable to the Commission (not the regulations that apply to registrants) to eliminate unnecessary provisions and introduce electronic methods for identity verification and Privacy Act requests.
The OCC, the Federal Reserve Board and the FDIC proposed long-term debt requirements for large banking entities, holding companies, foreign banking organizations and large insured depository institutions to facilitate resolvability in the event of failure and to reduce the risk of contagion within the financial system.