Fintech Finance

MAY 24, 2024

The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers. Accordingly, Buy Now, Pay Later lenders must provide consumers some key legal protections and rights that apply to conventional credit cards.

Disputes 97

Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer 97

NFCW

NOVEMBER 27, 2023

The US Consumer Financial Protection Bureau (CFPB) is proposing to subject large non-bank companies that offer consumer finance services including digital wallets and payment apps – such as Apple and Google – to the same regulatory scrutiny and oversight as banks, credit unions and other financial institutions.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Rules CFPB Consumer 52

PYMNTS

JANUARY 21, 2021

Biden Asks Consumer Protection Chief Kraninger To Step Down. Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger handed in her resignation Wednesday (Jan. 20) at the request of U.S. President Joe Biden, newly sworn in as the 46th U.S. president.

OCC 72

OCC Consumer Financial Protection Bureau (CFPB) Treasury Office of the Comptroller of the Currency 72

The Paypers

OCTOBER 10, 2016

(The Paypers) The Consumer Financial Protection Bureau (CFPB) has released new consumer protections that apply to digital wallets and debit and credit cards.

Consumer Financial Protection Bureau (CFPB) 31

Consumer Financial Protection Bureau (CFPB) CFPB Consumer Protection Credit Cards 31

PYMNTS

JULY 26, 2020

The nation’s consumer protection agency is seeking input on rule changes to third-party access to individual financial records.

Consumer Financial Protection Bureau (CFPB) 69

Consumer Financial Protection Bureau (CFPB) CFPB Consumer Privacy 69

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

MARCH 6, 2019

“We are proposing to amend our data security rules for financial institutions to better protect consumers and provide more certainty for business[es],” said Andrew Smith, director of the FTC’s Bureau of Consumer Protection, in a press release.

FTC 60

FTC Privacy Consumer Financial Protection Bureau (CFPB) Security 60

PYMNTS

APRIL 25, 2019

The Consumer Financial Protection Bureau (CFPB) announced Thursday (April 25) that it has issued a request for information on its remittance rule, which had faced calls by the Credit Union National Association for revision. CUNA wants the threshold raised to at least 1,000.

CFPB 59

CFPB Rules Consumer Financial Protection Bureau (CFPB) Request for Information 59

PYMNTS

NOVEMBER 1, 2017

State and federal regulators, including the Consumer Financial Protection Bureau (CFPB) are working to hold marketplace lending platforms accountable to usury law compliance, the publication noted, under the argument that the platforms are the true lenders.

Small Business 51

Small Business Consumer Financial Protection Bureau (CFPB) Laws CFPB 51

PYMNTS

AUGUST 22, 2016

The Consumer Financial Protection Bureau (CFPB) announced on Friday (Aug. The Consumer Financial Protection Bureau (CFPB) announced on Friday (Aug. The new additions being announced today bring experience and knowledge that will help inform the CFPB’s work going forward.”.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Credit Union Consumer 40

PYMNTS

MAY 8, 2019

Credit union (CU) and bank trade groups are locked in another battle, this time arguing about oversight by the Consumer Financial Protection Bureau (CFPB).

CFPB 43

CFPB NCUA Consumer Financial Protection Bureau (CFPB) Credit Union 43

PYMNTS

NOVEMBER 27, 2017

The Consumer Financial Protection Bureau (CFPB) is gearing up to sue Spain-based Santander Bank, claiming the bank has overcharged its car loan customers. Citing sources familiar with the CFPB’s plans, Reuters reported that the CFPB suit could happen as soon as Monday (Nov.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency Product 40

PYMNTS

MAY 8, 2017

Things are getting tougher for the Consumer Financial Protection Bureau (CFPB) under the new political administration. More banks are now willing to challenge CFPB enforcement actions, said The Wall Street Journal. The controversial U.S.

CFPB 48

CFPB Consumer Financial Protection Bureau (CFPB) Authorization Consumer Protection 48

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). While the revised legislation currently offers greater consumer protections, it is also likely to result in new consumer abuses.

Regulations 52

Regulations Consumer Financial Protection Bureau (CFPB) CFPB Rules 52

PYMNTS

JANUARY 19, 2017

The Consumer Financial Protection Bureau (CFPB) announced yesterday (Jan. The CFPB suit alleges that Navient, formerly part of Sallie Mae, has been in violation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Fair Credit Reporting Act and the Fair Debt Collections Practices Act.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Enrollments Consumer Protection 40

PYMNTS

FEBRUARY 3, 2020

CFPB Files Suit Against Citizens Bank. Separately, late last week, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Citizens Bank. The suit, filed in Rhode Island, alleges that Citizens Bank violated federal consumer protection laws during the period between 2010 to 2016.

Consumer Financial Protection Bureau (CFPB) 52

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

PYMNTS

JUNE 7, 2016

After mounting complaints from both banks and consumers about unauthorized withdrawals and other illicit activities, the accused payment processor is being taken to court.

CFPB 41

CFPB Processors Consumer Financial Protection Bureau (CFPB) Payments 41

PYMNTS

JULY 20, 2018

California’s small business borrower protection rules coincide with Los Angeles recently amending the Responsible Banking Ordinance to extend requirements among banks that do business with the city to disclose whether they use sales goals or quotas. The amendment includes commercial and investment banks in those requirements.

Consumer Financial Protection Bureau (CFPB) 40

Consumer Financial Protection Bureau (CFPB) Small Business CFPB Finance 40

PYMNTS

JULY 19, 2018

The Consumer Financial Protection Bureau (CFPB) has announced that Paul Watkins, a lawyer, will lead the agency’s newly created Office of Innovation. “I

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Innovation Regulations 40

PYMNTS

SEPTEMBER 12, 2018

Reuters , citing three sources familiar with the matter, reported that the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) told the bank that it has to do more to make sure it has located and compensated everyone impacted by the practice.

Consumer Financial Protection Bureau (CFPB) 40

Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency OCC CFPB 40

PYMNTS

JUNE 8, 2017

The Consumer Financial Protection Bureau (CFPB) released a study Wednesday (June 7) that shows the way consumers establish their credit history can differ based on their economic background.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Consumer Finance 40

PYMNTS

MARCH 3, 2020

It’s a problem widely reported and most recently acknowledged by the Consumer Financial Protection Bureau ( CFPB ), which estimates that millions of U.S. consumers are contacted about time-barred debt each year — and that this behavior “can pose consumer protection concerns.”

CFPB 56

CFPB Rules Consumer Financial Protection Bureau (CFPB) Consumer 56

PYMNTS

FEBRUARY 7, 2019

6), with the announcement that the Consumer Financial Protection Bureau (CFPB) will overhaul a series of 2017 payday loan regulations, set to go into effect in August 2019. The next chapter in the ongoing saga that is payday loan regulation officially began yesterday (Feb.

CFPB 40

CFPB Rules Consumer Financial Protection Bureau (CFPB) Regulations 40

PYMNTS

MARCH 10, 2020

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Cincinnati-based Fifth Third Bancorp alleging that employees opened accounts for customers without their consent in an effort to reach sales targets, according to reports on Tuesday (March 10). The CFPB filed a complaint with the U.S.

CFPB 67

CFPB Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency Accounts 67

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.

Regulations 105

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

PYMNTS

MARCH 26, 2020

Five federal financial regulatory agencies are encouraging banks, savings associations and credit unions to offer small loans to consumers and small businesses in response to the coronavirus pandemic.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency Credit Union FDIC 52

PYMNTS

NOVEMBER 9, 2020

regulators acknowledge that although there is a market and demand for open banking, the current regulatory structure prioritizes consumer protection.”. The open access to APIs allows merchants to give consumers additional payment options. The CFPB specifically targets the implementation of Section 1033 of the Dodd-Frank Act.

Consumer Financial Protection Bureau (CFPB) 114

Consumer Financial Protection Bureau (CFPB) Accreditation CFPB TCH 114

Finovate

DECEMBER 13, 2023

the Consumer Financial Protection Bureau (CFPB) has been studying the BNPL industry since at least late 2021. There has some concern at the state level , with state attorneys general voicing consumer protection warnings. The only question was when. Is the answer, “next year”? In the U.S.,

Regulations 64

Regulations BNPL Consumer Financial Protection Bureau (CFPB) FinTech 64

PYMNTS

MARCH 9, 2018

The Consumer Financial Protection Bureau (CFPB) introduced a final rule on Thursday (March 8) that it said will help mortgage servicers communicate with borrowers who are facing bankruptcy.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Rules Legal 40

PYMNTS

JANUARY 20, 2021

Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger handed in her resignation Wednesday (Jan. 20) at the request of U.S. President Joe Biden, newly sworn in as the 46th U.S. president, Bloomberg Law reported.

Consumer Financial Protection Bureau (CFPB) 105

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

PYMNTS

JULY 7, 2020

The federal Consumer Financial Protection Bureau (CFPB) has eliminated a rule that placed limits on payday lenders, handing a victory to the sector. Consumer protection advocates insist such lenders are predatory and take advantage of vulnerable, low-wage earning Americans.

CFPB 56

CFPB Consumer Financial Protection Bureau (CFPB) Rules Underwriting 56

Innovative Payments Association

FEBRUARY 28, 2024

I am not here to criticize the seemingly more aggressive approach the Consumer Financial Protection Bureau (CFPB) has taken during the last year, nor will I use this opportunity to question the substance of the myriad proposals the CFPB has released during the past six months.

Participant 52

Participant Innovation CFPB Consumer Financial Protection Bureau (CFPB) 52

PYMNTS

JANUARY 15, 2020

The New York Department of Financial Services (DFS) has announced that Leandra English, the former deputy director of the Consumer Financial Protection Bureau (CFPB), has been named special policy advisor to DFS Superintendent Linda Lacewell, according to a release.

CFPB 52

CFPB Advisors Consumer Financial Protection Bureau (CFPB) Credit Union 52

PYMNTS

OCTOBER 11, 2019

Ayanna Pressley of Massachusetts has introduced new legislation that would require the Consumer Financial Protection Bureau (CFPB) to regulate the debt collection industry. Nearly one in three Americans say they were contacted by at least one creditor or collector during the last year.

Consumer Financial Protection Bureau (CFPB) 44

Consumer Financial Protection Bureau (CFPB) CFPB Rules Consumer 44

PYMNTS

DECEMBER 12, 2018

Kathy Kraninger, the new head of the Consumer Financial Protection Bureau (CFPB), has said that she’ll prioritize the protection of consumers over regulatory issues, according to a report by the Chicago Tribune. She’s the replacement for Mick Mulvaney , the former agency head.

CFPB 49

CFPB Consumer Financial Protection Bureau (CFPB) Privacy Data Security 49

PYMNTS

JUNE 22, 2018

A federal judge in New York has ruled that the structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional. The Trump Administration’s nominee to lead the Bureau has an opportunity to be a champion for consumers and not the financial industry,” Nancy Pelosi said in a statement. “But

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Rules Legal 40

PYMNTS

JUNE 18, 2018

In an effort to roll back more oversight powers of the Consumer Financial Protection Bureau (CFPB), the White House is nominating a budget official to serve as the watchdog agency’s next director. We look forward to hearing her views on consumer protection during confirmation hearings.

CFPB 49

CFPB Consumer Financial Protection Bureau (CFPB) Governance Government 49