mike-van / pexelsSorting out what’s news and what’s noise can be a daunting task. insideARM’s weekly recap of top stories will give you the news we found most interesting last week and more importantly- why we think it’s relevant. Last week we brought you news about the CFPB walking back previously issued guidance documents, North Dakota’s decision to copy the Safeguards Rule, and Pennsylvania’s increase to consumer protection efforts.
On Tuesday we published an easy-to-read breakdown from Troutman Pepper Locke of each of the dozens of guidance documents the CFPB has pulled back. Each of these recissions on their own is newsworthy and this article provides a quick way to see exactly what has been rescinded and what it means from a high-level. As an added bonus, the article links all of Troutman Pepper Locke’s previous discussions for each topic, so if you’ve forgotten exactly why something is or was important, you can get a quick refresher.
On Wednesday we brought you an article from Maurice Wutscher about North Dakota copycatting the GLBA safeguards rule. With my apologies to North Dakotans, though it might not be the most important state regarding regulations to watch, the important takeaway here is that it is a state stepping into an area that had previously been dominated by the federal government.
On Thursday we brought you details from Ballard Spahr about Pennsylvania’s heightened consumer protection efforts. Though the updates are noteworthy on their own, the real newsworthy part of this story is the statement from PA governor, Josh Shapiro, in which he cited the CFPB cutbacks as the reason for upping the state’s consumer protection efforts. We will likely see more states stepping up to fill the void of a weakened CFPB.
Have a question about how your company should react to the news above? We have a group for that! The weekly peer call hosted by insideARM’s Research Assistant is the perfect place to ask a question and get advice from industry colleagues who are facing the same challenges you are. Not sure if it is for you? Try it on for size with our 1-month free trial. Click here to learn more!
