Obama Vows to Keep Dodd-Frank Intact, Urges Cyber Bill
WASHINGTON - President Obama on Tuesday night touted his administration's financial services rules, called for steps to benefit the middle class such as lower Federal Housing Administration premiums and reiterated support for legislation to address cyber threats.
A bill “unraveling the new rules on Wall Street” will not get his signature, Obama said.
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A Maine Supreme Court justice has ordered the withdrawal of a public reprimand of a lawyer involved in a mortgage foreclosure scandal related to robo-signing documents. more »
The FTC is sending more than $700,000 in refund checks to people who lost money in a "Rachel from Cardholder Services" scheme that promised to reduce the interest rate on consumers' credit cards for an upfront fee. more »
New York Attorney General Eric T. Schneiderman announced Thursday plans to propose legislation to overhaul the state's data security law while requiring new safeguards for the personal data of consumers. more »
Global Debt Registry, a debt repository for storing and tracking consumer debt, announced it has secured $7 million in funding. The investment comes on the heels of a landmark year for the company. more »
COSTLY CALL: Capital One Financial, led by CEO Richard Fairbank, agreed to pay $73 million last year to settle a case involving allegedly unauthorized phone calls to consumers. About 30% of the funds were earmarked for plaintiffs’ lawyers, while each affected consumer was slated to receive about $20-$40.
Quietly, banks have agreed to pay hundreds of millions of dollars over the last few years to settle a slew of class actions alleging they made illegal phone calls to U.S. consumers. more »
JPMorgan Chase and Bank of America plan to start offering FICO scores they have on customers to them for free, according to a statement released Monday by the White House. more »
B. Dan Berger is president and chief executive of the National Association of Federal Credit Unions.
It is hard to believe that more than a year has gone by since Target disclosed a massive data breach — and harder still to accept that consumers face a new holiday shopping season without the benefit of national standards on data security and breach notification safeguards for retailers. more »
Credit Karma, a credit management website, last week started offering on-demand access to credit reports from Equifax. It's the second credit report Credit Karma users can view as much as they like. more »
Bloomberg News
The fast food chain Chick-fil-A has confirmed that it was the victim of a recent data breach. more »
BIG TARGET: More than $1 trillion has been charged off and in collections in the last decade, and the figure "will be higher over the next ten years," said Mark Parsells, executive chairman and CEO of Global Debt Registry.
Could technology bring order to the Wild West of collections? more »
A data broker operation sold the sensitive personal information of hundreds of thousands of consumers to scammers who allegedly debited millions from their accounts, the Federal Trade Commission charged in a complaint. more »
Staples Inc., the largest U.S. office-supply retailer, said 1.16 million payment cards may have been affected in a series of data breaches that occurred from July into September. more »

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