- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-10-30T22:25:00
The Consumer Financial Protection Bureau (CFPB) plans to expand its enforcement efforts to protect consumers from misuse of their personal data, which businesses collect and then use to make decisions on loans, credit, housing, employment, and more.
CFPB Enforcement Director Eric Halperin discussed the agency’s enforcement activities during a speech Thursday at a National Consumer Law Center conference. He noted his office will be adding 75 new full-time employees as part of its expansion.
Halperin said the agency’s enforcement efforts are ramping up in response to risks created by what he described as the “surveillance economy.”
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A nationwide rental outlet affiliated with Rent-a-Center and its chief executive have been sued by the Consumer Financial Protection Bureau for allegedly deceiving five million consumers about the terms of credit agreements.
Digital wallet company PayPal disclosed it won’t face enforcement regarding a Consumer Financial Protection Bureau probe into its subsidiary Venmo.
The Consumer Financial Protection Bureau continued its push to establish supervisory authority over more nonbank financial companies with the adoption of a procedural rule to streamline the process for such designations.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
