Finextra

NOVEMBER 8, 2024

The Consumer Financial Protection Bureau (CFPB) has charged the US’s largest credit union for illegally charging users overdraft fees.

Consumer Financial Protection Bureau (CFPB) 103

Consumer Financial Protection Bureau (CFPB) Credit Union Junk Fees CFPB 103

Innovative Payments Association

JANUARY 10, 2024

The proposed rule would require banks, credit unions, and other financial services companies to share account and transaction data with consumers and authorized third parties. But the CFPB sees it differently. On October 31 , the Consumer Financial Protection Bureau published its proposed rule on open banking.

Junk Fees 52

Junk Fees CFPB Rules Direct Deposit 52

Tearsheet

MARCH 27, 2024

Many banks and credit unions are moving quickly to offer RTP capabilities to their business clients, who are in turn looking to offer EWA options to employees,” Jim Colassano, SVP of product development and strategy at The Clearing House, told Tearsheet.

Instant Payments 64

Instant Payments RTP Consumer Financial Protection Bureau (CFPB) FedNow 64

Global Fintech & Digital Assets

MARCH 8, 2024

The rule targets a statutory loophole that the CFPB asserts large credit card issuers exploited to exact excessive late fees from consumers. The Rule establishes two main changes to credit card late fee practice: Safe harbor lowered: The late fee safe harbor threshold is lowered to $8.

CFPB 59

CFPB Credit Cards Rules Card Issuer 59