By Adrianne Appel2024-10-25T13:55:00
Businesses need to follow the consumer protection rules of the Fair Credit Reporting Act (FCRA) when engaging in employee surveillance, which includes background reports about employees produced by third parties using artificial intelligence, the Consumer Financial Protection Bureau (CFPB) said Thursday in new guidance.
The FCRA was originally passed by Congress in 1970 to protect consumers from unfair credit reports. Credit reports have been used by banks and lenders to assess an individual’s creditworthiness.
The agency’s new guidance makes clear that the CFPB is broadening the interpretation of the FCRA, and is applying–and enforcing–the tenets of the law on the electronic surveillance of employees and potential hires.
2025-01-07T19:16:00Z By Adrianne Appel
Banks and other lenders will be prohibited from using medical debt information in credit reports, under a new rule finalized by the Consumer Financial Protection Bureau, the agency said.
2024-11-04T20:09:00Z By Adrianne Appel
VyStar credit union has agreed to pay a $1.5 million fine and make restitution to customers harmed by its alleged lack of due diligence when it launched a new banking platform, the Consumer Financial Protection Bureau said.
2024-10-23T15:45:00Z By Adrianne Appel
Banks, credit card companies and other financial mainstays will be required to comply with new data privacy and retail account portability regulations under a sweeping rule issued Tuesday by the Consumer Financial Protection Bureau.
2025-10-15T19:43:00Z By Jaclyn Jaeger
Under the Trump administration, the Department of Health and Human Services and the Food and Drug Administration have been hellbent on eliminating synthetic food dyes from food and beverage products, forcing a jarring and costly overhaul with cascading impacts on the operations of the entire industry.
2025-10-08T20:08:00Z By Ruth Prickett
Private companies that are keen to trade their shares but do not wish to become listed have gained another way to trade their shares. The U.K. government completed its initial review and published rules for the system in June.
2025-10-03T21:24:00Z By Adrianne Appel
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
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