Adjustments, Consumer Financial Protection Bureau (CFPB) and Junk Fees

The shifting EWA regulatory framework and its impact on bank partnerships and instant payment adoption

Tearsheet

MARCH 27, 2024

While the Consumer Financial Protection Bureau [CFPB] plans to issue further guidance to provide greater clarity concerning the application of federal law to income-based advance products, several states have taken individual legislative actions targeting EWA in recent months.

Instant Payments

Instant Payments RTP Consumer Financial Protection Bureau (CFPB) FedNow

CFPB Finalizes Rule Limiting Credit Card Late Fees

Global Fintech & Digital Assets

MARCH 8, 2024

The rule targets a statutory loophole that the CFPB asserts large credit card issuers exploited to exact excessive late fees from consumers. The Rule establishes two main changes to credit card late fee practice: Safe harbor lowered: The late fee safe harbor threshold is lowered to $8.

CFPB

CFPB Credit Cards Rules Card Issuer

Payments Space

The shifting EWA regulatory framework and its impact on bank partnerships and instant payment adoption

CFPB Finalizes Rule Limiting Credit Card Late Fees

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