Adjustments, Junk Fees and Regulations

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Adjustments

Junk Fees

Regulations

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

Tearsheet

MARCH 27, 2024

Regarded as distinct from payday lenders and viewed as a means for 60% of Americans who live paycheck-to-paycheck to break free from debt, financial regulators remain hesitant to fully endorse on-demand pay’s effectiveness. Last month, Montana’s attorney general asserted that EWA should not be subject to lending regulations.

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

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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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