Americans’ hard-earned money is at risk as President Trump and Elon Musk dismantle consumer safeguards enforced by the Consumer Financial Protection Bureau.
Full Article Here.
The Department of Consumer and Business Services encourages all consumers to check with their insurance agent or company to see if a credit check would lower their insurance premiums. Consumers are allowed to do a rerate once a year and if their credit improves, their insurance rates may as well. Rerating due to credit may result in either improving or no change to a consumer’s insurance costs, but will not negatively affect it.
The Oregon Division of Financial Regulation (DFR) issued a $200,000 fine against State Farm after the company failed to send notices over the past six years informing its insureds of their ability to request an annual credit check, which could affect their premiums.
This case serves as an important reminder that Oregon law allows consumers to request an annual rerate from their insurer, which could lead to lower premiums, but will not increase them
The Consumer Financial Protection Bureau (CFPB) is proposing a rule to require depository and nondepository entities to make available to consumers and authorized third parties certain data relating to consumers’ transactions and accounts; establish obligations for third parties accessing a consumer’s data, including important privacy protections for that data; provide basic standards for data access; and promote fair, open, and inclusive industry standards. Comments are due by 12/29/2023.
Fast Facts regarding the proposed rule are at:
Fast Facts: Personal Financial Data Rights Proposed Rule (consumerfinance.gov)
