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When Will The US Open Banking Rule Come Into Force? 

Open Banking Excellence

Your guide to the Consumer Financial Protection Bureau's (CFPB) imminent proposals for a new regulatory framework governing “Personal Financial Data Rights” The US will propose a new “Open Banking Rule” this year which will set the foundations for an ecosystem with the potential to become the largest in the world.

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Fifth Third Bank Sued By CFPB Over Fake Accounts

PYMNTS

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Cincinnati-based Fifth Third Bancorp alleging that employees opened accounts for customers without their consent in an effort to reach sales targets, according to reports on Tuesday (March 10). The CFPB filed a complaint with the U.S.

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Banks Line Up To Challenge CFPB

PYMNTS

Things are getting tougher for the Consumer Financial Protection Bureau (CFPB) under the new political administration. More banks are now willing to challenge CFPB enforcement actions, said The Wall Street Journal. This already exceeds the total number of challenges the CFPB saw across 2016. The controversial U.S.

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Temperature Check on 4 Fintech Trends in 2024

Finovate

These shifts have caused companies to focus on sustainable growth and profitability, rather than the aggressive growth-at-all-costs mentality that was common from 2010 to 2019. Regulation As expected, the regulatory landscape has tightened significantly so far this year. In the U.S.,

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CFPB Sues Student Loan Servicer Navient

PYMNTS

The Consumer Financial Protection Bureau (CFPB) announced yesterday (Jan. The CFPB suit alleges that Navient, formerly part of Sallie Mae, has been in violation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Fair Credit Reporting Act and the Fair Debt Collections Practices Act.

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Consumer Financial Protection Bureau Seeks Advice On Financial Data Access

PYMNTS

The nation’s consumer protection agency is seeking input on rule changes to third-party access to individual financial records. Congress created the legislation in 2010 that created the CFPB. Its mission is to help ensure consumers have access to and the ability to leverage the data in their records.

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CFPB Gets Green Light To Investigate Tribal Lenders

PYMNTS

According to a report , a Ninth Circuit of Appeals panel ruled online lenders Great Plains Lending, MobiLoans and Plain Green, all of which offer payday loans and installment loans, have to comply with the demands of the CFPB in its civil investigation. Rawlinson wrote in a 20-page opinion in the case, CFPB v.

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