Payments Source

MARCH 2, 2018

The Consumer Financial Protection Bureau is among several agencies that "continue to investigate events related to" last year's Equifax brief, the credit reporting firm said in a securities filing.

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CFPB Security Continuity Consumer 63

PYMNTS

FEBRUARY 3, 2020

As noted by the news outlet, the government will leverage existing antitrust law, and any fines or regulatory actions tied to the new mandates would be the purview of the Fair Trade Commission (FTC). CFPB Files Suit Against Citizens Bank. Digital Currencies, Too. million credit card customers. million credit card customers.

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Consumer Financial Protection Bureau (CFPB) CFPB Digital Currency Central Bank 52

PYMNTS

MAY 25, 2018

Sources familiar with the matter said that the Retail Industry Leaders Association (RILA) met with the Federal Trade Commission (FTC) and the Federal Reserve this week to talk about those concerns, with representatives from Walmart, Home Depot, Walgreens Boots Alliance Inc. and Target , among others, in attendance.

Consumer Financial Protection Bureau (CFPB) 43

Consumer Financial Protection Bureau (CFPB) Federal Trade Commission FTC Debit Card 43

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. The Federal Trade Commission (FTC) also published a short notice in September 2022 on the obligations of BNPL providers vis-à-vis the FTC Act.

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

PYMNTS

JULY 14, 2017

In four words, the Federal Trade Commission (FTC) — which about a month ago gave its official thumbs down to the merger on antitrust grounds. The FTC complained that because DraftKings and FanDuel are each other’s largest competitors, their merger would create a single firm that “controls more than 90 percent of the U.S.

FTC 40

FTC Federal Trade Commission CFPB Legal 40

PYMNTS

MAY 2, 2016

Venmo may have managed to get itself into some trouble with the FTC – though how much, what for exactly and how worried parent company PayPal should be worried are a bit up in the air. Venmo’s FTC Troubles(?). We are cooperating with the FTC in connection with the CID.”. Need to know a bit more? Good news for you.

Legal 40

Legal Venmo FTC Federal Trade Commission 40

PYMNTS

MARCH 13, 2017

According to FTC data (from a report mandated by Congress), one in five consumers have at least one error on one of their three major credit reports. According to the CFPB, the three credit bureaus received around eight million requests disputing information since 2011.

CFPB 44

CFPB Settlement FTC Social Security 44

Fintech Labs Insights

MARCH 29, 2016

It’s hard to imagine that the CFPB–who isn’t actually tasked with enforcing information safeguarding (Congress left that with the FTC)–would impose civil fines on a company for safeguarding representations, when the company in question didn’t have a data breach. __. Guest post by Erica A.N. Kramer and Justin B. Hosie*. __.

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CFPB Data Security Security Data Breach 16

PYMNTS

MARCH 14, 2017

According to an FTC report in 2013, a full 20 percent of consumers have an error on at least one of their three major credit reports. In a statement last month, the CFPB noted that it has identified “significant” issues with the quality of the credit information being provided by furnishers and kept by credit reporting companies.

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CFPB Underwriting Social Security Consumer 40

PYMNTS

NOVEMBER 14, 2018

both the Consumer Financial Protection Bureau ( CFPB ) and the Federal Trade Commission ( FTC ) have highlighted issues surrounding payday loans, an industry now worth an estimated $46 billion — with payday lenders making $7 billion a year in fees alone, according to the Pew Charitable Trusts. In the U.S.,

On-Demand 58

On-Demand Payroll Consumer Financial Protection Bureau (CFPB) Real Time Payments 58

PYMNTS

AUGUST 22, 2016

Reality Check: The “P” In CFPB May Not Always Stand For Protect. Maybe CFPB Director Richard Cordray also has the power to shift the way that the Earth circles the sun and we just haven’t caught on yet. Well, at the end of the day, the consumers who are supposed to be protected (hey, that’s what the P in CFPB stands for).

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Checks CFPB Bitcoin Payments 41

Fi911

AUGUST 31, 2023

TILA is enforced by the Consumer Financial Protection Bureau (CFPB). The Federal Trade Commission (FTC) enforces Regulation Z, and lenders must disclose all TILA-required information before finalizing a loan or credit agreement. Non-compliance by lenders can result in penalties and legal action. Why was the Truth in Lending Act Passed?

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Consumer Financial Protection Bureau (CFPB) Risk Mitigation Online and Mobile Banking Non-Bank 52

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. All Parties Agree that Scams are Bad, But Not on Who Is Liable.

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Scams Authorization P2P Zelle 52

Payments Source

JULY 19, 2019

The agreement with authorities including the Federal Trade Commission and state attorneys general — and possibly the Consumer Financial Protection Bureau — may be announced as soon as Monday.

Federal Trade Commission 81

Federal Trade Commission Data Breach Settlement Breach 81

Payments Source

JUNE 28, 2018

Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties.

Breach 63

Breach Security Data Breach Risk Management 63

Clearly Payments

FEBRUARY 8, 2024

Consumer Financial Protection Bureau (CFPB): Established in response to the 2008 financial crisis, the CFPB is tasked with protecting consumers in the financial marketplace. It formulates policies, provides services, and conducts research to promote the safety, efficiency, and accessibility of payment systems.

Regulations 105

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

PYMNTS

AUGUST 19, 2019

Per the terms of the executive order, the Federal Trade Commission (FTC) will be asked to open a public complaint docket and to work with the FCC to investigate how these companies operate their platforms. CFPB and Payday Lending. In the UK, Too. August 19 is here, and a deadline comes and goes.

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CFPB Federal Trade Commission FTC Regulations 51

PYMNTS

JANUARY 18, 2021

In today’s top news, Biden is bringing in the FTC’s Rohit Chopra to lead the CFPB, and Jet.com Founder Marc Lore is retiring from Walmart. Biden Taps FTC’s Rohit Chopra to Head CFPB. Chopra previously served as the CFPB’s student-loan watchdog under Obama.

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CFPB Consumer Financial Protection Bureau (CFPB) Federal Trade Commission Payment APIs and Integration 58

PYMNTS

JANUARY 20, 2021

Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger handed in her resignation Wednesday (Jan. While at the CFPB, Kraninger rolled back payday lender regulations, finalized debt collection laws and made changes to consumer finance regulations, Bloomberg Law reported. 20) at the request of U.S.

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Consumer Financial Protection Bureau (CFPB) Consumer Protection CFPB Consumer 105

PYMNTS

DECEMBER 27, 2016

We can’t say we know what’s next for P2P lending, the CFPB or subprime borrowers — nor do we think anyone else can either — but we can tell you that how those stories unfold will make a very big difference to the shape of financial services yet to come and who will (and won’t) be included as part of the mainstream financial system.

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Finance CFPB P2P Underwriting 46

PYMNTS

JANUARY 19, 2021

As reported, President-elect Joe Biden nominated Rohit Chopra , a commissioner at the Federal Trade Commission (FTC), to lead the Consumer Financial Protection Bureau (CFPB), replacing Kathy Kraninger as director (who remains in her post in a term that technically runs through 2023, but is likely to be replaced by Biden).

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CFPB Consumer Financial Protection Bureau (CFPB) Federal Trade Commission FTC 57

PYMNTS

JANUARY 18, 2021

Rohit Chopra , a commissioner at the Federal Trade Commission (FTC), is expected to be tapped by President-elect Joe Biden to head the Consumer Financial Protection Bureau (CFPB), according to the Wall Street Journal (WSJ) on Monday (Jan. At the FTC since 2018, Chopra was an aggressive enforcer. 16), citing sources.

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CFPB Consumer Financial Protection Bureau (CFPB) Federal Trade Commission FTC 66

PYMNTS

AUGUST 28, 2017

The team at American Express is unexpectedly in the Consumer Financial Protection Bureau’s (CFPB) sights and is paying a hefty fine; cybercriminals have found a fun new way to use something as innocuous as your phone number to take all your accounts away from you and Starbucks is saying a surprise sayonara to their own eCommerce portal. .

CFPB 46

CFPB Online and Mobile Banking Push-to-Card Cryptocurrency 46

PYMNTS

JULY 23, 2018

A bit of pun there, but the Federal Trade Commission (FTC) — in the wake of the $5 billion fine via the European Union (EU), centered on the Android operating system and antitrust violations — is looking at the matter, too. As noted late last week, FTC Chairman Joseph Simons said to U.S. CFPB Pick Faces Scrutiny On The Hill.

Regulations 40

Regulations Risk Federal Trade Commission CFPB 40

PYMNTS

FEBRUARY 21, 2017

The CFPB was a few weeks away from releasing new draft regulations, and the money was on regs that would by and large neuter the industry. As a result, the CFPB is looking a good deal more vulnerable than it did even six months ago. The FTC has been all over short-term lending,” Purcell reminded Webster. “A

CFPB 40

CFPB Regs Rules FTC 40

PYMNTS

JANUARY 3, 2017

If asked in September about what kind of year 2017 was going to be, CFPB officials most likely would have spoken mostly about their ongoing plans to make the world a better place for consumers. 8 when Donald Trump — an avowed opponent of Dodd-Frank, which gave the CFPB its life — actually won the White House. Dismantling Dodd-Frank.

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CFPB Federal Reserve FTC Reconciliation 41

PYMNTS

NOVEMBER 28, 2017

Wherever you might come down on the current controversy over who’s really in charge at the CFPB, you have to admit it’s driven no shortage of headlines. Some of our favorites: “ Shootout at The CFPB Corral ”, “ Who’s the Boss ” and “…Two Acting Directors Show Up To Take Command; One Brings Doughnuts, The Other Well-Wishes.”.

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CFPB NOV Legal Rules 40

PYMNTS

SEPTEMBER 28, 2018

According to an executive order signed by President Donald Trump, the new task force is led by the Justice Department and consists of agencies including the Securities and Exchange Commission (SEC), the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB).

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Consumer Financial Protection Bureau (CFPB) Money Laundering Law Enforcement Federal Trade Commission 76

PYMNTS

JULY 12, 2018

According to an executive order signed by President Donald Trump, the new task force is led by the Justice Department and consists of agencies including the Securities and Exchange Commission (SEC), the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB).

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Consumer Financial Protection Bureau (CFPB) Crime Federal Trade Commission CFPB 40