Legal Disclaimer
You are responsible for reading, understanding and agreeing to the National Law Review s (NLR’s) and the National Law Forum LLC s Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. If you require legal or professional advice, kindly contact an attorney or other suitable professional advisor.
To embed, copy and paste the code into your website or blog:
Another day, another major pronouncement from the Consumer Financial Protection Bureau (CFPB or Bureau), which just took two important actions. First, it rescinded seven different policy statements that offered flexibility to financial institutions during the COVID-19 pandemic and the resulting economic downturn. Second, it dropped what many viewed to be an important supervisory tool. We explain what happened and why it matters.
What Happened
If it was not apparent before today, the era of COVID-19 accommodations for industry is coming to a screeching halt. On March 31, 2021, the CFPB rescinded seven policy statements, all issued from March to June 2020 during the tenure of then-Director Kathy Kraninger:
Administrative Advantage Provides Notice of Data Event
News provided by
Share this article
SAVANNAH, Ga., April 5, 2021 /PRNewswire/
Administrative Advantage ( AA ) provides billing support services to certain healthcare providers. AA is providing this notice on behalf of its customer, Remedy Medical Group, a medical practice with offices in San Mateo, San Francisco and Oakland, California. In July 2020,
AA became aware of unusual activity involving a single employee email account. AA immediately began an investigation and worked quickly to assess the security of the email account. With the assistance of third-party computer specialists, on August 18, 2020, AA s investigation determined that an unauthorized person or persons may have accessed the email account between June 23, 2020, and July 9, 2020. Because AA could not conclusively rule out unauthorized access to information in the account, in an abundance of caution, AA reviewed the contents of the email account
The US Supreme Court heard oral argument in
TransUnion, LLC v. Ramirez
1 on Tuesday, March 30, 2021 on how absent class members establish standing in federal court. Standing is the first requisite for entry through the courthouse doors, yet reasonable minds differ on what this basic principle entails when considering the weight of absent class members who must stand with their representative as a collective. Switching focus to this specific representative, the question then became whether Ramirez suffered injury and experiences over and above the rest of his class such that his experiences were too atypical to serve as an adequate class representative.
To print this article, all you need is to be registered or login on Mondaq.com.
Artificial intelligence continues to remain a focus in 2021, as
we predicted at the start of
the year. From the FTC, to the EU, to others, regulators of
all kinds are paying attention to companies use of these
tools. In the latest, five US federal agencies are seeking input on how financial
institutions are using AI tools. Comments from stakeholders are due
by June 1, 2021.
These financial agencies recognize and acknowledge the benefits
of AI, noting that AI tools have the potential to augment business
decision-making and enhance services available to consumers and