Tag Archives: compliance

By Myril Shaw The Senate recently narrowly approved President Biden's pick, Rohit Chopra, to run the Consumer Financial Protection Bureau. News outlets say the confirmation gives the bureau a director who is likely to embrace an aggressive "watchdog" role as a consumer advocate, and one who favors stiff penalties for bad actors such as predatory lenders. Like it or not, ...

By Myril Shaw A new form of identity theft known as synthetic fraud is on the rise. And you won't like what we have to say about it. With traditional identity theft, someone will normally notice something amiss or unusual or inflated on their credit report, credit card statement, or bank statement. With synthetic fraud, there is nothing to notice. ...

By Myril Shaw "We need to make sure our store meets compliance standards, we need a Red Flags Manual."  Well, unfortunately, having a Red Flags Manual does NOT make a store compliant. In fact, it doesn't even, by itself, demonstrate a "good-faith" effort to address compliance issues. So why does any of this matter? Nearly 60 million Americans have been impacted by identity ...

In November 2015, Congress enacted legislation requiring federal agencies to adjust their civil penalties to account for inflation. As a result, the Occupational Safety and Health Administration (OSHA) increased its penalties based on the Consumer Price Index, which became effective as of August 1. OSHA’s maximum penalties, which were last adjusted in 1990, have increased by 78 percent. The previous ...