HHS Highlights New Research to Avoid Data-Based Discrimination

The director of the study says decisions must be made intentionally to “mitigate and prevent racial and ethnic bias.“ The Department of Health and Human Services (HHS) highlighted…

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Federal Reserve Keeps Interest Rate Unchanged 

They leave the door open for future rate hikes.  The Federal Reserve determined to keep its benchmark interest rate at about 5.4 percent this past week, the highest…

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CFPB Proposes Removal of Medical Bills from Credit Reports

The director says, “Medical bills have little predictive value in credit decisions.“ The Consumer Financial Protection Bureau (CFPB) is in the rulemaking process that would take medical bills…

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FTC Charges Experian Over Unsolicited Email Violations

Consumers were not provided with an opt-out for marketing communications. The Federal Trade Commission (FTC) reported that California-based Experian Consumer Services (ECS), also known as ConsumerInfo.com, has been…

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Mastercard Ordered to Stop Blocking Competition

FTC finalizes consent ordering for illegal business tactics, restricting debit payment transactions. The Federal Trade Commission (FTC) has finalized a consent order that addresses Mastercard’s illegal tactics which…

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FTC Permanently Bans Firms from Debt Relief After Scams

The defendants who defrauded credit card debtors must surrender assets. The Federal Trade Commission (FTC) successfully sued operators of a credit card debt relief scheme that was located…

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President’s Administration Warns Financial Firms of AI Risks

Decisions made with data sets can lead to more discrimination, not less The heads of the Consumer Financial Protection Bureau, the Justice Department’s civil rights unit, and the…

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Federal Reserve Raises Interest Rates Again

The result will be tighter credit options for households.  At its meeting on Wednesday, the Federal Reserve raised interest rates to a target range of 4.75% to 5%,…

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Nation’s Household Debt at $16.9 Trillion 

Greatest increase in two decades hits record.  A new report from the Federal Reserve reveals that U.S. household debt has risen to a record $16.9 trillion in the…

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Administration Proposes Lower Credit Card Fees

Late fees would be capped at $8.  The Consumer Financial Protection Bureau is proposing an update to the 2009 regulation from the Credit Card Accountability Responsibility and Disclosure…

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