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American Fintech Council (AFC) Responds to Consumer Financial Protection Bureau (CFPB) Interpretive Rule on Buy Now Pay Later

Fintech Finance

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.

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CFPB fines fintech Wise, alleging it charged deceptive fees

TechCrunch Fintech

The Consumer Financial Protection Bureau (CFPB) has hit UK-based remittance company Wise with about a $2 million fine for what it described as a series of illegal actions. Those actions include advertising inaccurate fees and failing to properly disclose exchange rates and other costs, the CFPB alleges.

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Plaid’s $575 Million Round Signals Strength Despite Valuation Drop and Delayed IPO

Finovate

The Consumer Financial Protection Bureau (CFPB) is currently working toward finalizing its proposed Personal Financial Data Rights rule under Section 1033 of the Dodd-Frank Act, but the lack of formalized standards has created uncertainty for data aggregators like Plaid.

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Google Hits Back at US Regulator Over Payment Arm Supervision

The Fintech Times

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., the companys payment arm, under federal supervision.

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CFPB Approves FDX as First Standard-Setting Body for Open Banking

The Fintech Times

The Consumer Financial Protection Bureau (CFPB) has approved the Financial Data Exchange (FDX) as the first standard-setting body in an important step towards implementing open banking in the US.

CFPB 101
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CFPB charges Navy Federal Credit Union $95 million for overdraft and junk fees

Finextra

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

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CFPB and American Fintech Council stake out AI positions to Treasury

Finextra

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.