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CFPB Consumer Consumer Financial Protection Bureau (CFPB) 
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.
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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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
NOVEMBER 8, 2024
The Consumer Financial Protection Bureau (CFPB) has charged the US’s largest credit union for illegally charging users overdraft fees.
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.
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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Finextra
NOVEMBER 21, 2024
The Consumer Financial Protection Bureau (CFPB) has finalised a rule that will see it supervise tech giants such as Apple and Google that offer digital payment apps and wallets.
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.
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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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.
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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Finextra
JUNE 13, 2024
The Consumer Financial Protection Bureau (CFPB) has set out plans to remove medical bills from most credit reports
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.
PYMNTS
MARCH 29, 2018
Consumers paid $34.3 Despite the increase, consumers aren’t, in fact, overdrawing their accounts. Even so, consumers must opt in to be able to overdraft. consumers in 2016, according to a report from the Consumer Financial Protection Bureau (CFPB) on the impact of bouncing checks in American finance.
Finextra
MAY 17, 2024
The US Supreme Court has rejected an attempt to undercut the funding of the Consumer Financial Protection Bureau (CFPB).
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.
The Fintech Times
DECEMBER 9, 2024
Google has filed a legal challenge against the US Consumer Financial Protection Bureau (CFPB), the agency responsible for overseeing consumer finance, after it placed Google Payment Corp., This development marks the second time the CFPB has issued a contested supervisory designation.
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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PYMNTS
DECEMBER 16, 2016
The Consumer Financial Protection Bureau (CFPB) announced Thursday (Dec. 15) the launch of Consumer Credit Trends, a web-based tool to help consumers monitor developments in consumer lending and to ascertain potential future risks.
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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.
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
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. “AFC wrote Ian P.
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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.
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.
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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PYMNTS
OCTOBER 29, 2020
API FinTech TrueLayer is launching in Australia, recent reports said, and will seed accreditation from the Australian Competition and Consumer Commission to operate as an Accredited Data Recipient. CFPB Seeks Open Banking Guidance. That’s a critical advantage in the new normal.". TrueLayer Launches in Australia.
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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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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.
PYMNTS
SEPTEMBER 18, 2019
In a civil investigation that recently came to light, the Consumer Financial Protection Bureau (CFPB) is looking into Bank of America as part of a probe that came out of the phony accounts scandal at Wells Fargo. In July, CFPB Director Kathleen Kraninger denied the petition.
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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.
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. (..)
PYMNTS
MARCH 10, 2020
The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Cincinnati-based Fifth Third Bancorp alleging that employees opened accounts for customers without their consent in an effort to reach sales targets, according to reports on Tuesday (March 10). The CFPB filed a complaint with the U.S.
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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.
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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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.
PYMNTS
JULY 26, 2020
The nation’s consumer protection agency is seeking input on rule changes to third-party access to individual financial records. Its purpose was to review the agency’s handling of authorized third-party access to consumer’s financial data. Congress created the legislation in 2010 that created the CFPB.
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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PYMNTS
MARCH 10, 2020
In today’s top payment news, retail remains a bright spot in the markets, Ant Financial has rolled out a strategy for digital evolution in China, and the Consumer Financial Protection Bureau (CFPB) filed a suit against a Cincinnati-based bank. Fifth Third Bank Sued By CFPB Over Fake Accounts.
Finextra
DECEMBER 4, 2024
The Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Financial Crimes Enforcement Network (FinCEN), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), and state financial regulators issued a joint statement this (..)
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.
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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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
DECEMBER 19, 2024
The Consumer Financial Protection Bureau (CFPB) has announced a series of measures aimed at addressing illegal credit card practices and reducing financial burdens.
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. CUNA wants the threshold raised to at least 1,000.
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