On January 24, 2024, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking that would prohibit financial institutions from charging fees on transactions that are declined instantaneously or...more
On September 19, 2023, the Consumer Financial Protection Bureau (CFPB) issued Circular 2023-03 to provide creditors additional guidance for communicating denials of credit to consumers based upon artificial intelligence (AI)...more
Senior regulators at the Financial Conduct Authority (FCA) in the UK and at the Board of Governors of the Federal Reserve System (Federal Reserve Board) in the US publicly shared remarks regarding their concerns about...more