Regulatory & Compliance Updates: Feb. 7, 2024

Office of Cannabis Management (OCM) Update: On January 30, the OCM held a webinar to update the progress of its implementation of the 2023 recreational marijuana law with the goal to launch commercial licensing in 2025. 

CFPB Issues Two Advisory Opinions: On January 11, the agency issued two advisories clarifying the Fair Credit Reporting Act (FCRA) requirements on background check reports and credit file disclosure implementing their January 2023 report for improving and challenging credit reporting companies. 

Permitted Purposes for Consumer Reports Reminder: As the CFPB moves towards mandating open banking, it is important to remember the Fair Credit Reporting Act (FCRA) regulations for permitted purposes and use of consumer (credit) reports. 

​Cybersecurity Trends: Eder Ribiero, cybersecurity manager for Transunion sees the following things to watch out for in 2024.

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