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Fintech Finance
JULY 15, 2024
Regulatory clarity and consistent standards are critical for providers offering safe, transparent and responsible financial services and even more important for consumers who expect protections when utilizing financial services including Buy Now Pay Later,” said Phil Goldfeder, Chief Executive Officer of AFC.
Finextra
NOVEMBER 8, 2024
The Consumer Financial Protection Bureau (CFPB) has charged the US’s largest credit union for illegally charging users overdraft fees.
Finextra
AUGUST 14, 2024
Responding to a call from the US Treasury, the Consumer Financial Protection Bureau (CFPB) and the American Fintech Council (AFC) have both weighed in on the use of AI in financial services.
Finextra
OCTOBER 18, 2024
The Consumer Financial Protection Bureau (CFPB) has announced its suit against Climb Credit and its largest shareholder 1/0 for misrepresenting the quality of its training programmes at partner schools.
Finextra
JUNE 5, 2024
The Consumer Financial Protection Bureau (CFPB) has taken another step designed to promote open banking in the US, finalising a rule for recognising data sharing standards and preventing incumbents from "squelching" startups.
Finextra
JUNE 13, 2024
The Consumer Financial Protection Bureau (CFPB) has set out plans to remove medical bills from most credit reports
Finextra
MAY 17, 2024
The US Supreme Court has rejected an attempt to undercut the funding of the Consumer Financial Protection Bureau (CFPB).
The Paypers
JUNE 10, 2024
The Consumer Financial Protection Bureau ( CFPB ) has finalised a rule detailing the requirements for becoming a recognised industry standard-setting body.
The Paypers
NOVEMBER 1, 2024
The Consumer Financial Protection Bureau (CFPB) has taken action against VyStar Credit Union and ordered the company to pay USD 1.5 million for impairing consumers via its rollout of a new online banking system.
The Paypers
OCTOBER 24, 2024
The Consumer Financial Protection Bureau (CFPB) has taken action against Apple and Goldman Sachs and fined them over USD 89 million for credit card business.
Finextra
MAY 22, 2024
The Consumer Financial Protection Bureau (CFPB) today sued the online lending platform SoLo Funds for deceiving borrowers about the total cost of loans.
The Paypers
AUGUST 19, 2024
The Consumer Financial Protection Bureau (CFPB) has released a comment regarding the uses, capabilities, and risks associated with artificial intelligence (AI) in the financial services industry.
Finextra
JANUARY 24, 2024
America's Consumer Financial Protection Bureau (CFPB) has proposed a rule that would stop banks charging non-sufficient fund fees for transactions that are declined in real time.
Finextra
JULY 15, 2024
The American Fintech Council (AFC), the fastest growing premier industry association representing responsible fintech companies and innovative banks, submitted its response to the Consumer Financial Protection Bureau (CFPB) on the proposed Interpretive Rule and Request for Comment on the Use of Digital User Accounts to Access Buy Now, Pay Later Loans. (..)
Finextra
AUGUST 5, 2024
JPMorgan Chase is considering taking legal action against the Consumer Financial Protection Bureau (CFPB) over an ongoing probe into the abuse of Zelle payments by scammers.
Electronic Payments Coalition
MAY 9, 2024
The Electronic Payments Coalition fact-checked a politically motivated report focused on credit card reward programs issued by the Consumer Financial Protection Bureau (CFPB). EPC’s fact-check of the CFPB’s report is copied below.
The Paypers
JULY 24, 2024
Lease-to-own solutions provider Acima , a subsidiary of Upbound , has announced its decision to file a lawsuit against the US Consumer Financial Protection Bureau (CFPB).
Finextra
MARCH 12, 2024
The US Chamber of Commerce has filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) to stop it from implementing a rule to limit late credit card fees.
The Fintech Times
NOVEMBER 4, 2024
US government agency, the Consumer Financial Protection Bureau (CFPB) has fined Florida-headquartered VyStar Credit Union $1.5million for failing to protect consumers during its ‘botched’ rollout of a new online banking system. million civil penalty to the CFPB’s victims relief fund. .
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The Paypers
JULY 22, 2024
The Consumer Financial Protection Bureau (CFPB) has suggested an interpretive rule to ensure that lenders’ legal obligations to disclose the costs of paycheck advance products are met.
Finextra
MARCH 5, 2024
The Consumer Financial Protection Bureau (CFPB) finalized a rule today to cut excessive credit card late fees by closing a loophole exploited by large card issuers.
The Paypers
JANUARY 18, 2024
The Consumer Financial Protection Bureau (CFPB) has proposed a rule to curb excessive overdraft fees charged by large financial institutions.
Open Banking Excellence
OCTOBER 6, 2023
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.
BioCatch
MAY 31, 2024
As of the October term of 2023, the United States Supreme Court had taken on an appeal of a decision to review a possible constitutional conflict in the interpretation of the funding mechanism for the Consumer Financial Protection Bureau (CFPB).
The Paypers
OCTOBER 20, 2023
The Consumer Financial Protection Bureau (CFPB) has proposed a Personal Financial Data Rights rule set to expedite the shift to Open Banking in the US and jumpstart competition.
PYMNTS
DECEMBER 23, 2020
Santander Consumer USA was ordered to pay $4.7 million to the Consumer Financial Protection Bureau ( CFPB ) for violating the Fair Credit Reporting Act (FCRA), the CFPB said in a press release. The order indicated that Santander must submit a detailed compliance plan to the CFPB within 45 days.
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Fintech Finance
JULY 19, 2024
The Consumer Financial Protection Bureau (CFPB) has proposed an interpretive rule explaining that many paycheck advance products, sometimes marketed as “earned wage” products, are consumer loans subject to the Truth in Lending Act.
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Innovative Payments Association
JULY 8, 2024
The Consumer Financial Protection Bureau (CFPB) is the primary enforcement agency for Regulation E, and it has been cracking down on violations in recent years. CFPB Enforcement Actions The CFPB has taken enforcement actions against companies in the payments industry for various violations of Regulation E.
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Fintech Finance
MAY 24, 2024
The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers. Accordingly, Buy Now, Pay Later lenders must provide consumers some key legal protections and rights that apply to conventional credit cards.
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The Fintech Times
JANUARY 3, 2024
The American Fintech Council (AFC) has submitted its response to the Consumer Financial Protection Bureau (CFPB) on its open banking proposal. The CFPB proposed a change on personal financial data rights implementing Section 1033 of the Dodd-Frank Act. wrote Ian P.
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PYMNTS
DECEMBER 23, 2020
The Consumer Financial Protection Bureau (CFPB) has settled with student loan servicers Discover Bank , The Student Loan Corporation and Discover Products (collectively Discover) in a 2015 case for unlawful practices, and Discover will have to pay $10 million in customer redress, a press release says.
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PYMNTS
APRIL 13, 2020
The Consumer Financial Protection Bureau (CFPB) has made it easier for people to access stimulus CARES Act funds by removing some of the legal barriers barring banks from issuing the payments through prepaid accounts, according to a press release. CFPB Director Kathleen L.
The Paypers
MAY 22, 2024
The Consumer Financial Protection Bureau ( CFPB ) has issued an interpretive rule to ensure federal control over Buy Now, Pay Later (BNPL) returns and disputes in the US.
Axway
NOVEMBER 22, 2022
Consumer Financial Protection Bureau (CFPB) has just announced the coming of a new U.S. The aim is to solidify personal financial data … The director of the?Consumer open banking rule , accelerating the move toward open banking in North America.
The Paypers
JANUARY 20, 2023
The Consumer Financial Protection Bureau (CFPB) has addressed patterns and other tricks companies use to confuse and deceive consumers enrolled in subscriptions.
Axway
JANUARY 26, 2023
A recent announcement from Director Chopra of the Consumer Financial Protection Bureau (CFPB) openly declares the coming of a U.S. open banking rule, representing a significant shift in the financial services landscape. The announcement recognizes the importance of common standards …
The Paypers
OCTOBER 27, 2022
The US Consumer Financial Protection Bureau (CFPB) has announced it will move forward with an Open Banking rule.
The Paypers
AUGUST 4, 2022
Eight US national trade groups have petitioned the Consumer Financial Protection Bureau (CFPB) to initiate a rulemaking to strengthen the privacy and security of consumer financial data held by fintechs, bigtech, and data aggregators, the official press release states.
Finovate
JUNE 6, 2024
Late last month, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule stating that Buy Now, Pay Later (BNPL) lenders are credit card providers. For those unfamiliar with the matter, summarize the CFPB’s recent ruling on BNPL. territories.
Global Fintech & Digital Assets
DECEMBER 18, 2023
By Jenny Cieplak , Parag Patel , Barrie VanBrackle , and Deric Behar On November 7, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule, Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications (the Proposal), to supervise large providers of digital wallets and payment apps.
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PYMNTS
JULY 20, 2020
The Consumer Financial Protection Bureau (CFPB) has recorded record-high numbers of complaints every month since the pandemic hit in mid-March, according to a press release from the U.S. The CFPB was off to a good start after the last economic crisis,” said Mike Litt , U.S. PIRG Education Fund.
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Finovate
OCTOBER 22, 2024
financial services community has been waiting for for at least a year– the Consumer Financial Protection Bureau (CFPB) issued its final 1033 rule making. The CFPB states that the rule promotes competition and consumer choice, and will ultimately help improve customer service.
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PYMNTS
MARCH 6, 2020
Consumer Financial Protection Bureau (CFPB), has asked Congress for the ability to pay whistleblowers in an attempt to incentivize them to speak out, according to a report by Reuters. Kathy Kraninger, the director of the U.S. The court seemed to be leaning toward the removal of any restriction.
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The Fintech Times
JULY 15, 2024
The new proposed interpretive rule would ensure that nonbank financial companies adhere to the same credit card lending rules as large banks, credit unions, and other financial institutions already supervised by the CFPB. “We are encouraged by the work the CFPB has done to better understand the BNPL industry. .
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