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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CFPB Rules Product Consumer Financial Protection Bureau (CFPB) 105

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.

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Consumer Financial Protection Bureau (CFPB) CFPB Non-Bank Rules 59

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.

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Consumer Financial Protection Bureau (CFPB) CFPB Rules Consumer 45

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.

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Consumer Financial Protection Bureau (CFPB) CFPB Rules Consumer 45

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.

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Consumer Financial Protection Bureau (CFPB) CFPB Credit Cards Rules 60

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.

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Consumer Financial Protection Bureau (CFPB) CFPB Credit Cards Caps 45

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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Rules Consumer Financial Protection Bureau (CFPB) CFPB GLBA 52

Axway

NOVEMBER 22, 2022

Consumer Financial Protection Bureau (CFPB) has just announced the coming of a new U.S. open banking rule , accelerating the move toward open banking in North America. The aim is to solidify personal financial data … The director of the?Consumer

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Consumer Financial Protection Bureau (CFPB) Rules CFPB Consumer 72

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. This ruling is slated to have some significant impact on BNPL, which was once one of the hottest subsectors in fintech. territories.

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Consumer Financial Protection Bureau (CFPB) Rules BNPL CFPB 52

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).

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Consumer Financial Protection Bureau (CFPB) Reg E CFPB Regs 64

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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CFPB Consumer Financial Protection Bureau (CFPB) Non-Bank Origination 142

The Paypers

OCTOBER 27, 2022

The US Consumer Financial Protection Bureau (CFPB) has announced it will move forward with an Open Banking rule.

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Consumer Financial Protection Bureau (CFPB) CFPB Rules Consumer 36

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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Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer 97

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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CFPB Consumer Financial Protection Bureau (CFPB) FinTech Underserved 68

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.

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Consumer Financial Protection Bureau (CFPB) Disputes BNPL Returns 41

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.

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Electronic Fund Transfer Act (EFTA) CFPB Consumer Financial Protection Bureau (CFPB) Direct Deposit 111

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 …

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Consumer Financial Protection Bureau (CFPB) CFPB Rules Consumer 59

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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CFPB Regulations Consumer Financial Protection Bureau (CFPB) Non-Bank 75

NFCW

NOVEMBER 27, 2023

The US Consumer Financial Protection Bureau (CFPB) is proposing to subject large non-bank companies that offer consumer finance services including digital wallets and payment apps – such as Apple and Google – to the same regulatory scrutiny and oversight as banks, credit unions and other financial institutions.

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Consumer Financial Protection Bureau (CFPB) Rules CFPB Consumer 52

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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BNPL Consumer Financial Protection Bureau (CFPB) CFPB Request for Comment 63

PYMNTS

APRIL 25, 2019

The Consumer Financial Protection Bureau (CFPB) announced Thursday (April 25) that it has issued a request for information on its remittance rule, which had faced calls by the Credit Union National Association for revision. The rules excluded a provider that does less than 100 transfers.

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CFPB Rules Consumer Financial Protection Bureau (CFPB) Request for Information 59

PYMNTS

NOVEMBER 3, 2020

If data is the oil that brings change to financial services, the pipelines are increasingly under scrutiny. Late last week, the Consumer Financial Protection Bureau (CFPB) said it will look to issue advance notice of proposed rulemaking on “open banking” by the end of this year. Beyond the Comment Period.

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CFPB Consumer Financial Protection Bureau (CFPB) Rules Authorization 79

PYMNTS

MAY 13, 2019

The Consumer Financial Protection Bureau (CFPB) announced that is reviewing the Federal Reserve ‘s overdraft protection rule to find out if it “should be amended or rescinded” to minimize “any significant economic impact” to small businesses (SMBs) and credit unions.

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CFPB Rules Consumer Financial Protection Bureau (CFPB) Federal Reserve 48

PYMNTS

DECEMBER 12, 2019

In the lawsuit, filed in in the United States District Court for the District of Columbia, PayPal said the CFPB rule that requires disclosure for digital wallets and prepaid debit cards places “unreasonable restrictions” on consumers’ abilities to link certain credit products to PayPal accounts.

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CFPB PayPal Rules Consumer Financial Protection Bureau (CFPB) 55

PYMNTS

JUNE 20, 2017

Prepaid card rules have been under fire ever since the Consumer Financial Protection Bureau (CFPB) put out its new regulations back in October 2016. As such, the CFPB has put out new regulations and is welcoming comments.

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CFPB Consumer Financial Protection Bureau (CFPB) Rules Debit Card 50

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 63

PYMNTS

FEBRUARY 6, 2020

House Committee on Financial Services, Maxine Waters , told the head of the Consumer Financial Protection Bureau (CFPB), Kathy Kraninger , that the organization needs to do better. The rebuke came from prepared remarks delivered at a committee hearing called “Protecting Consumers or Allowing Consumer Abuse?

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CFPB Consumer Financial Protection Bureau (CFPB) Rules Consumer 60

PYMNTS

OCTOBER 29, 2020

While FinTechs are increasingly competing directly with traditional financial institutions (FIs), they're also continuing to play the important role of collaborator. moves closer to its own open banking rules that could further catalyze the bank-FinTech collaboration landscape. CFPB Seeks Open Banking Guidance. Plus, the U.S.

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CFPB Consumer Financial Protection Bureau (CFPB) Payment APIs and Integration Financial Crimes 81

PYMNTS

MARCH 25, 2019

A federal judge late last week ordered a stay on the August 2019 compliance date tied to the “ payday lending rule ” mandated roughly two years ago by the Consumer Financial Protection Bureau (CFPB). The ruling, per U.S. The CFPB had asked the court to wait until a separate case had been decided.

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CFPB Rules Consumer Financial Protection Bureau (CFPB) Underwriting 51

PYMNTS

JANUARY 25, 2018

The Consumer Financial Protection Bureau (CFPB) has extended the effective date on its 2016 prepaid card rule, among other modifications announced today (Jan. The rule change has drawn some early praise from industry sources.

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CFPB Consumer Financial Protection Bureau (CFPB) Rules Error Resolution 52

PYMNTS

SEPTEMBER 11, 2019

A network to better coordinate financial innovation among federal and state regulators is being launched by the Consumer Financial Protection Bureau (CFPB) in partnership with several states, the agency said in a press release. State regulators in every state were invited to join. .

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CFPB Consumer Financial Protection Bureau (CFPB) Regulations Innovation 68

PYMNTS

MARCH 9, 2018

The Consumer Financial Protection Bureau (CFPB) introduced a final rule on Thursday (March 8) that it said will help mortgage servicers communicate with borrowers who are facing bankruptcy. The CFPB said the Truth in Lending Act requires that mortgage servicers provide borrowers with periodic statements.

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CFPB Consumer Financial Protection Bureau (CFPB) Rules Legal 40

PYMNTS

MARCH 3, 2020

It’s a problem widely reported and most recently acknowledged by the Consumer Financial Protection Bureau ( CFPB ), which estimates that millions of U.S. consumers are contacted about time-barred debt each year — and that this behavior “can pose consumer protection concerns.”

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CFPB Rules Consumer Financial Protection Bureau (CFPB) Consumer 56

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

PYMNTS

DECEMBER 4, 2019

In today’s payments news, the Consumer Financial Protection Bureau (CFPB) has proposed to boost the number of smaller banks and credit unions (CUs) that would not be governed by rules tied to international money transfers. CFPB Proposal On Remittances Offers Exemptions For Banks, CUs.

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Consumer Financial Protection Bureau (CFPB) CFPB Regulations Credit Union 52

PYMNTS

DECEMBER 3, 2019

In the years ahead, might there be a greater number of smaller financial institutions (FIs) offering remittance services? 3), the Consumer Financial Protection Bureau (CFPB) has proposed to boost the number of smaller banks and credit unions (CUs) that would not be governed by rules tied to international money transfers.

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CFPB Consumer Financial Protection Bureau (CFPB) Credit Union Cross-Border 52

PYMNTS

JANUARY 18, 2019

The Consumer Financial Protection Bureau (CFPB) has asked the United States Congress for the authority to supervise compliance of the Military Lending Act (MLA), the organization announced on Thursday (Jan. The CFPB gave the proposal to the speaker of the U.S.

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CFPB Consumer Financial Protection Bureau (CFPB) Authorization Compliance 48