Consumers
-
Blog
How the CFPB Shutdown Is Impacting Consumers
Those cases involve several of the nation’s largest financial institutions, including the banks behind the payment app Zelle, over nearly $1 billion in allegedly unchecked consumer fraud on the platform; the bank Capital One, over an alleged scheme involving interest rates on millions of customers’ savings accounts; and Walmart, for allegedly opening accounts for more than 1 million delivery drivers…
Read More » -
Blog
Consumers are sick of slow, clunky services, so they’re demanding enterprises modernize their tech
Consumers are placing increased pressure on enterprises to improve user experiences and update clunky legacy technology, according to new research from Pegasystems and YouGov. More than three-quarters (77%) of surveyed consumers said organizations should invest in improved interactions with customers, while over two-thirds (69%) feel companies are more interested in driving profits with tech investments than improving customer experience. Many…
Read More » -
Blog
How Changes at the CFPB Could Impact Consumers
The move is perhaps not surprising, given that the CFPB has drawn the ire of Republicans, the banking industry, and other industry groups since its creation 14 years ago. Formed by Congress in the wake of the 2008 financial crisis, the CFPB has worked to rein in banks, credit card companies, predatory lenders, big tech, and credit reporting agencies. In…
Read More » -
Blog
Guide to UK’s Digital Markets, Competition and Consumers Act
The Digital Markets, Competition and Consumers Act is designed to regulate the behaviour of major digital firms with significant market power in the U.K. The legislation grants the Competition and Markets Authority new powers to impose requirements on tech companies with “Strategic Market Status,” reminiscent of the “gatekeeper” organisations that must abide by the E.U.’s Digital Markets Act. However, while…
Read More » -
Blog
Digital Scams More Likely to Hurt Black and Latino Consumers
In particular, a 2021 FTC report, “Serving Communities of Color” (PDF), notes that members of predominantly Black and Latino communities who reported scams are more likely than those in white communities to have conducted their transactions using cash, cryptocurrency, or money orders, which offer minimal fraud protections, while members of predominantly white communities are more likely to have used credit…
Read More »
