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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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CFPB Consumer Complaints Up 50 Pct During Pandemic

PYMNTS

The Consumer Financial Protection Bureau (CFPB) has recorded record-high numbers of complaints every month since the pandemic hit in mid-March, according to a press release from the U.S. In related news, the Federal Trade Commission (FTC) reported that its top complaint has been fraud, according to a PYMNTS report.

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OCC Issues Policy Guidance on Buy Now, Pay Later Lending

Global Fintech & Digital Assets

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.

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US High Court Considers CFPB’s Fate

PYMNTS

president has the authority to fire the leader of the Consumer Financial Protection Bureau (CFPB), which was formed after the financial crisis, according to the Financial Times. The CFPB was founded in 2010. The Supreme Court heard arguments about whether a sitting U.S.

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Today In Payments: Biden Taps FTC’s Chopra To Head CFPB; Marc Lore Retiring From Walmart

PYMNTS

Biden Taps FTC’s Rohit Chopra to Head CFPB. Rohit Chopra, a commissioner at the Federal Trade Commission (FTC), has been tapped by President-elect Joe Biden to head the Consumer Financial Protection Bureau (CFPB).

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What is the Truth in Lending Act (TILA)?

Fi911

TILA is enforced by the Consumer Financial Protection Bureau (CFPB). The Truth in Lending Act was intended to address the lack of transparency and standardization in disclosing consumer credit terms and costs. Some states also provide additional protections through their own regulations.

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On-Demand Payroll Without The Cash Flow Disruption

PYMNTS

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.