Weekly Fintech Focus
- CA DBO cracks down on point-of-sale financing. Companies that offer deferred payment options at point-of-sale could be lenders in California.
- The White House issues the world’s first binding guidance on regulating AI. Agencies should take a light-touch approach and consider how regulations promote the growth of AI.
- State money transmission laws are in flux. Rhode Island just combined its laws governing electronic money transfers and sale of checks into one regime.
- The FTC brought an action against a fuel card company for hidden fees.
- The FTC announced that its recent data security orders will inform how it issues orders going forward, including more specific requirements for companies implementing safeguards to correct problems, more accountability for third-party assessors, and C-Suite compliance attestations for the company’s data security programs.