Reg Changes & Rule Amendments
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- The CFPB adopted a rule relating to the regulation of credit card penalty fees under its Truth in Lending Regulations that went into force on Tuesday, May 14th.
Summer of Regulation
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- This summer could yield a slate of new laws impacting all subsectors of the financial services industry, as well as the authorities of both the SEC and the CFPB.
AI Regulation
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- The European Commission announced the anticipated establishment of its AI Office which will become operational June 16th and play a key role in implementing and enforcing the new AI Act which was adopted by Parliament earlier this year and is expected to go into force by end of July 2024.
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