The Fintech Times

MAY 22, 2024

The Consumer Financial Protection Bureau (CFPB), a US government agency responsible for protecting consumers in the financial sector, has ruled that buy now, pay later (BNPL) lenders must treat consumers as credit card providers do, ensuring they receive the same key protections.

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BNPL Credit Cards Consumer Financial Protection Bureau (CFPB) CFPB 64

PYMNTS

JANUARY 31, 2020

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit on Thursday (Jan. The CFPB said that Citizens Bank neglected to follow the rules for years by failing to properly manage credit card disputes. 30) against Citizens Bank over alleged violations of the Truth In Lending Act (TILA).

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CFPB Consumer Financial Protection Bureau (CFPB) Credit Cards Disputes 46

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.

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Consumer Financial Protection Bureau (CFPB) Rules BNPL CFPB 52

Neopay

MAY 28, 2024

Consumer Financial Protection Bureau (CFPB) issued a new interpretation under the existing Truth in Lending Act. Regardless of whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations already on the books.”

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Credit Cards BNPL Consumer Financial Protection Bureau (CFPB) Regulations 52

PYMNTS

JANUARY 27, 2020

To say that 2020 has already started off as a busy year for the Consumer Financial Protection Bureau (CFPB) might be an understatement. In the most recent news late last week, the CFPB said it would change the way it defines and addresses “ abusive ” practices within the financial services arena.

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CFPB Consumer Financial Protection Bureau (CFPB) UDAAP Laws 71

PYMNTS

JULY 11, 2017

And, as a result, higher fees for consumers levied by cautious lenders, when they lend at all? The Consumer Financial Protection Bureau (CFPB) has handed down a controversial ruling stating companies cannot opt to use arbitration clauses in their contracts with consumers in a manner that keeps consumers from joining class action lawsuits. .

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CFPB Rules Consumer Financial Protection Bureau (CFPB) Credit Cards 40

PYMNTS

FEBRUARY 27, 2019

In a testimony centered on credit risk scoring, the Equifax CEO stated that “we recognize that millions of American consumers do not have ready access to affordable credit.” We need to start thinking about how we reimagine [the system], and rebuild it,” she stated. billion in efforts tied to technology.

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Consumer Financial Protection Bureau (CFPB) CFPB Breach Law Enforcement 63

Payment Savvy

NOVEMBER 30, 2021

In 2020, the Consumer Financial Protection Bureau (CFPB) published two rules which implement the Fair Debt Collection Practices Act (FDCPA). While the revised legislation currently offers greater consumer protections, it is also likely to result in new consumer abuses. Attorneys’ fees.

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Regulations Consumer Financial Protection Bureau (CFPB) CFPB Rules 52

Global Fintech & Digital Assets

DECEMBER 21, 2023

BNPL in US, UK, and EU Regulators’ Sights The Consumer Financial Protection Bureau (CFPB) has been actively monitoring BNPL activity in the consumer finance marketplace for some time now.

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OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

The Fintech Times

JANUARY 2, 2024

Consumer dissatisfaction with the credit industry Such an overwhelming landscape leads to ambiguity, leaving many feeling lost in the convoluted credit universe. This sentiment resonates with the Consumer Financial Protection Bureau (CFPB) findings.

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AI Consumer Financial Protection Bureau (CFPB) Advisors Consumer 72

FICO

JANUARY 5, 2023

While there is some dispute whether baseball Hall of Famer Yogi Berra uttered these words, it is irrefutable that making predictions is tough business. The CFPB's New Open Banking Proposal Will Accelerate Exciting Product Innovations. For those in the financial services industry, 2023 will be the year when U.S. by Daniel Nestel.

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BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52

PYMNTS

FEBRUARY 5, 2018

Here in the States, and amid legal battling, the Consumer Financial Protection Bureau (CFPB) got one for the win column this past week. The court ruled Congress created the CFPB – and its current structure – to protect against changes in the political climate. Closer to Home.

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Regulations Consumer Financial Protection Bureau (CFPB) CFPB Card Issuer 41

FICO

NOVEMBER 7, 2022

It was even more surprising to me that the CEOs didn’t have the data right in front of them, given the signals coming from regulatory bodies like the Consumer Financial Protection Bureau (CFPB) about the need for more oversight for real-time P2P payments networks.

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Scams Authorization P2P Zelle 52

Clearly Payments

FEBRUARY 8, 2024

Its primary objectives encompass safeguarding consumers, maintaining financial stability, promoting market integrity, preventing fraud and security breaches, and ensuring legal compliance. It monitors and enforces regulations related to payment products and services to ensure fair treatment and transparency for consumers.

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Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 105

The Fintech Times

JANUARY 8, 2025

However, according to the CFPB , it has been providing inaccurate or false information on consumer reports, threatening their access to credit, employment and housing. The FCRA provides people with multiple ways to dispute inaccurate information on their consumer reports.

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CFPB Consumer Financial Protection Bureau (CFPB) Disputes Consumer 69

The Fintech Times

MARCH 14, 2025

If we connect to a users entire financial footprint, we can resolve disputes instantly, before they become chargebacks. In regions where credit cards arent dominant, open banking is financial access, she said. More than payments The conversation quickly turned to how fintechs are using open finance for more than just payments.

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FinTech Consumer Financial Protection Bureau (CFPB) Fraud Detection AI 59

PYMNTS

JULY 11, 2016

The Consumer Bankers Association (CBA) is throwing its support behind the Consumer Financial Protection Bureau (CFPB). ” “The creation of a five-person, bipartisan board at the CFPB will preserve it as a stable, strong and effective regulator, regardless of a President Trump or Clinton.

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CFPB Consumer Financial Protection Bureau (CFPB) Federal Reserve Disputes 40

PYMNTS

MARCH 7, 2017

In the latest salvo in the legal wrangling between the Trump administration and the Consumer Financial Protection Bureau (CFPB), the Justice Department has signaled that it will embrace the argument laid out by PHH Corp. that the CFPB is unconstitutional.

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CFPB Consumer Financial Protection Bureau (CFPB) Legal Disputes 40

PYMNTS

NOVEMBER 2, 2017

According to news from Reuters , the resolution kills a Consumer Financial Protection Bureau (CFPB) rule that was set to go into effect next spring, giving bank customers the option to file class-action lawsuits to lower their legal costs. million consumers affected by its massive cyber hack, but later removed it.

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Consumer Financial Protection Bureau (CFPB) CFPB Card Issuer Blocks 40

PYMNTS

NOVEMBER 23, 2017

The Consumer Financial Protection Bureau (CFPB)’s much debated, loved and hated arbitration rule has been officially killed through the rule’s being struck from the Federal Register. The move could protect a company’s ability to block customers from suing in a variety of non-financial services.

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CFPB Rules Consumer Financial Protection Bureau (CFPB) Void 41