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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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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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Some Large Retailers Not Sold On One-Click Ordering

PYMNTS

Sources familiar with the matter said that the Retail Industry Leaders Association (RILA) met with the Federal Trade Commission (FTC) and the Federal Reserve this week to talk about those concerns, with representatives from Walmart, Home Depot, Walgreens Boots Alliance Inc. and Target , among others, in attendance.

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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). Chopra previously served as the CFPB’s student-loan watchdog under Obama.

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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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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.