CFPB and Third Party Vendors

CFPB Fines FNBO $32M Over ‘Illegal’ Credit Card Practices

PYMNTS

AUGUST 26, 2016

The CFPB will collect more than $32 million in fines from First National Bank of Omaha over credit card practices the regulator found to be deceptive. The CFPB has ordered the bank to pay out $27.75 Credit card extras are a particular favorite target for the CFPB. million in relief to roughly 257,000 consumers. The remaining $4.5

CFPB

CFPB Credit Cards Third Party Vendors Push-to-Card

OCC Issues Policy Guidance on Buy Now, Pay Later Lending

Global Fintech & Digital Assets

DECEMBER 21, 2023

Third-Party Risk Banks furnishing BNPL loans may not have direct control over the activities of third-party vendors or merchants. In September 2022, it published an in-depth report on the BNPL landscape, and in September 2023 published another report on the consumer financial profiles of BNPL borrowers.

OCC

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

Payments Space

CFPB Fines FNBO $32M Over ‘Illegal’ Credit Card Practices

OCC Issues Policy Guidance on Buy Now, Pay Later Lending

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