The Fintech Times

SEPTEMBER 4, 2024

According to the PSR, the new cap still covers 99 per cent of APP scam claims, based on its review of more than 250,000 cases, only 18 of which involved losses exceeding £415,000. The regulator defended the reduced threshold as maintaining strong consumer protections while addressing concerns from financial firms.

Regulations 59

Regulations Scams Payments Caps 59

The Fintech Times

MARCH 16, 2024

Phil Goldfeder, CEO, AFC “Under the guise of consumer protection, these bills in Rhode Island and DC will harm consumers who need access to safe and affordable financial services and will put local state-chartered banks at a disadvantage,” said Phil Goldfeder , chief executive officer of AFC.

Community Banks 59

Community Banks Consumer Protection Regulatory Compliance FinTech 59

PYMNTS

MAY 20, 2016

Lending Club, for its part, said that it plans to cooperate with the DFS investigation, which also looks for information on underwriting and other business procedures and how these myriad practices square with consumer protection laws and laws governing fair business practices. Justice Department.

Regulations 40

Regulations Laws Caps Underwriting 40

PYMNTS

OCTOBER 24, 2019

The Kenyan National Assembly is considering a law that would make mobile lenders in the country subject to central bank oversight, which would force them to reveal transactions fees and interest rates before they dole out loans. There is need for consumer protection. These mobile loan apps have commercialized poverty.”.

Regulations 40

Regulations Central Bank Small Business Money Laundering 40

PYMNTS

MAY 30, 2018

Consumer advocates in Ohio were granted permission to start collecting signatures to get a constitutional amendment regarding payday loan reform on the ballot. But if not, we will take it to the voters.” This new proposed amendment closely resembles House Bill 123 , which was introduced last March.

FBI 40

FBI Credit Union Laws Caps 40

PYMNTS

JANUARY 16, 2018

The Kansas businessman – facing a 2017 conviction for violating federal truth in lending and racketeering laws in connection with his online lending business – attempted to apologize for the $3.5 According to Reuters, it served to convince the judge that Tucker had not really accepted that his actions were against the law.

Laws 47

Laws Regulations CFPB On-Demand 47

Electronic Payments Coalition

MARCH 26, 2024

merchants, more than 90 percent of which are small businesses, lowering credit interchange rates and capping those rates into 2030. The agreement will cap the reduced credit interchange rates for five years, providing an unprecedented level of cost certainty long sought by merchants. merchants, comprised largely of small businesses.

Agreements 52

Agreements Payment Networks Settlement Credit Cards 52

PYMNTS

MAY 4, 2018

The suit also alleges that NetCredit ran afoul of the state’s usury cap of 12 percent. That maximum rate applies to most consumer loans, with some exceptions. In the newspaper’s story, Attorney General Mark Herring advocated for stronger laws to “protect Virginians from predatory loans, whether issued online or in person.”.

Consumer 43

Consumer Federal Reserve Caps Laws 43

PYMNTS

MAY 13, 2016

The point: to ensure laws and regulation would not negatively impact innovation. Current CFTC Commissioner Chris Giancarlo recently (and rightly) called for such protection for digital currency. It will, however, place a cap on bitcoin payments at 200 francs (around $206) and can be used for public utility payments.

Bitcoin 45

Bitcoin Digital Currency Blockchain Regulations 45

PYMNTS

APRIL 19, 2016

” The White House took the opportunity to give the CFPB a shout-out too, noting that the consumer protection agency was dedicated to creating and enforcing the sort of regulations and controls necessary to keep consumers safe from the worst predations of predatory lenders.

CFPB 40

CFPB Consumer Protection Addressing Laws 40

FICO

DECEMBER 15, 2020

For the past several years, industry has been anxiously waiting for the FCC to clarify one of the most unsettled areas of the now antiquated, nearly three decades old Telephone Consumer Protection Act. Even by Washington standards, this bill is massive topping 4,500 pages. companies and companies doing business in the U.S.

BSA 52

BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52

PYMNTS

NOVEMBER 28, 2016

We need strong consumer financial protection laws, and enforcement of those laws, to make everyone involved in financial services — from lowly employees pushing products, to local managers at AFS providers, to CEOs at big financial institutions — to think long and hard about scamming consumers.

Consumer 51

Consumer CFPB Credit Cards Federal Reserve 51

PYMNTS

APRIL 27, 2017

The fee caps were issued in response to a price-fixing practice by the card industry. The House Financial Services Committee held a hearing yesterday morning on the Financial Choice Act, the legislation that would repeal debit swipe fee reform as part of a larger rollback of Dodd-Frank and the Consumer Protection Act.

Debit Card 40

Debit Card Caps Consumer Protection Laws 40