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.”

Credit Cards 52

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

PYMNTS

SEPTEMBER 22, 2017

consumer accounts were accessed by the hackers, as well as certain dispute documents with personal identifying information for approximately 182,000 U.S. Plus, there is the CFPB, which is widely believed to be about to lay a punishment down on Equifax using the same powers it has used against Wall Street’s biggest banks.

UDAAP 46

UDAAP CFPB Federal Trade Commission Breach 46

PYMNTS

FEBRUARY 27, 2019

Credit scores and credit reports are increasingly relied upon by creditors, employers, insurers and even law enforcement. Per the memorandum offered by the Committee: “Our nation’s credit reporting system has an impact on almost every American. We need to start thinking about how we reimagine [the system], and rebuild it,” she stated.

Consumer Financial Protection Bureau (CFPB) 63

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

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. However, some have questioned whether the same consumer protection laws apply to all BNPL activity.

BNPL 52

BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52

Global Fintech & Digital Assets

DECEMBER 21, 2023

Compliance Risk Compliance with various consumer protection-related laws and regulations [1] is critical for banks furnishing BNPL loans to ensure that obligations are understood and met on both sides of the transaction.

OCC 59

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

PYMNTS

AUGUST 14, 2018

Almost everyone – state law makers, federal law makers, consumer groups, industry groups and even short-term lenders themselves – agree that the industry should be regulated. Under the law, consumers will not be allowed to take out more than one loan at once. Kyle Koehler (R), a bill sponsor, said prior to passage.

CFPB 40

CFPB Rules Laws Regulations 40

PYMNTS

MAY 6, 2016

The CFPB is moving toward a rule change that will make it much easier for consumers — or more specifically groups of consumers — to take banks and other financial institutions to court as part of class action lawsuits. It wasn’t surprising that the Field Hearing had a pro-CFPB rule feeling,” King told us shortly after. It’s official.

Rules 41

Rules CFPB Agreements Laws 41

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). This federal law, known as Regulation F goes into effect on November 30, 2021. As previously said, the CFPB announced final regulations amending Regulation F to implement the FDCPA in 2020.

Regulations 52

Regulations Consumer Financial Protection Bureau (CFPB) CFPB Rules 52

PYMNTS

JULY 14, 2017

The two firms, after consideration, decided that this was a case where they could not fight the law and win — and have thus withdrawn the deal. Trial Lawyers: Not the sizzle we want, but they get a boondoggle from arbitration rule “strike down” from the CFPB. Oh, and higher fees. Lawyers are happy, though. million consumers.

FTC 40

FTC Federal Trade Commission CFPB Legal 40

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. That idea of authorization is where deep divisions start to appear.

Scams 52

Scams Authorization P2P Zelle 52

PYMNTS

SEPTEMBER 12, 2017

One week ago, the CFPB’s arbitration rule seemed more or less doomed to the scrap heap of financial regulatory history. The Comptroller of the Currency formally requested that the CFPB halt implementation of the rule while the OCC reviewed its effect on the banking industry. According to L.A.

CFPB 47

CFPB Rules Breach Disputes 47

Clearly Payments

FEBRUARY 8, 2024

Through transparent disclosures, dispute resolution mechanisms, and limits on consumer liability, regulations shield consumers from deceptive practices and ensure their financial well-being. It oversees compliance with federal banking laws, including those governing payments.

Regulations 105

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. Credit reporting errors can have serious consequences for a familys finances, and it is critical that credit reporting giants follow the law.

CFPB 69

CFPB Consumer Financial Protection Bureau (CFPB) Disputes Consumer 69

PYMNTS

NOVEMBER 27, 2017

25), which was his last day as the head of the CFPB. Within a few hours, President Trump appointed Mick Mulvaney – the director of the White House Office of Management and Budget (OMB) – as the acting CFPB director. Democrats point to a law under Dodd-Frank that states the deputy director is to take over in the interim at the CFPB.

CFPB 41

CFPB Disputes Laws NOV 41

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. As noted by CFPBMonitor.com and disclosed in a court filing with the U.S.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Legal Disputes 40

PYMNTS

JANUARY 3, 2017

So while the Dodd-Frank law may not be repealed in its entirety, capital requirements and stress testing may get a thorough look in the first few months of a Trump presidency. But the key debate and dispute as relates to the CFPB ties into the actual structure of the leadership at the helm of the bureau.

CFPB 46

CFPB Card Issuer Fed Returns 46