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FTC Looking For Comments On Customer Privacy, Security Amendments

PYMNTS

The Federal Trade Commission (FTC) has requested comment on the proposed amendments of two rules that protect the privacy and security of customer data held by financial institutions (FIs). The proposed changes are related to the Safeguards Rule and the Privacy Rule under the Gramm-Leach-Bliley Act.

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OCC Issues Policy Guidance on Buy Now, Pay Later Lending

Global Fintech & Digital Assets

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
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An Overview of Payment Regulation In The USA

Clearly Payments

Key Regulatory Organizations in The USA Federal Reserve System: The Federal Reserve , often referred to as the Fed, plays a central role in overseeing the nation’s payment systems. It monitors and enforces regulations related to payment products and services to ensure fair treatment and transparency for consumers.

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Biden Asks Consumer Protection Chief Kraninger To Step Down

PYMNTS

Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger handed in her resignation Wednesday (Jan. During her two-year term, the CFPB collected roughly $1.5 billion in consumer relief. Cordray’s CFPB secured more than $12 billion in consumer relief over more than five years.

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Republicans Look To Weaken CFPB’s Power, But Face Tough Opposition From Democrats

PYMNTS

Ever since the Dodd-Frank Act gave the Consumer Financial Protection Bureau (CFPB) jurisdiction over just about every US business that provides some form of consumer credit, Republicans have been complaining that the agency has too much power. Most bankers support moves to rein the CFPB in a bit.