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FTC seeks comment on proposed amendments to safeguards and privacy rules

CFPB Monitor

The proposed amendments to the Safeguards Rule will better align the rule with prevailing cyber security standards, such as the NY DFS cybersecurity regulations and the NIST framework. The expansion includes “finders” or those who charge a fee to connect consumers looking for a loan to a lender.

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The 2015 GonzoBanker Awards

Gonzobanker

Regulator Award. The all-powerful banking regulator claimed that car dealers discriminated against minority borrowers—by guessing the race of borrowers based on last names and addresses in loan files, and claimed racism if the people they guessed were minorities seemed to be paying higher rates. And definitely include a meme.