PYMNTS

JANUARY 13, 2020

It’s a new year, and in Europe, an expansion of scrutiny and laws governing data sharing. And beginning earlier in the month, new laws seek to tackle “rogue traders and online tricksters,” as denounced in a statement by Vera Jourova, the EU’s commissioner for values and transparency. A California CFPB? Penalties in the New Year.

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Bots Consumer Financial Protection Bureau (CFPB) Regulations CFPB 52

Global Fintech & Digital Assets

JANUARY 12, 2024

Long , Parag Patel , Barrie VanBrackle , Pia Naib , and Deric Behar On December 14, 2023, a bipartisan group of senators introduced the Fair Audits and Inspections for Regulators’ Exams Act (FAIR Exams Act), which seeks to increase transparency in the bank examination process. By Arthur S.

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PYMNTS

SEPTEMBER 18, 2019

In a civil investigation that recently came to light, the Consumer Financial Protection Bureau (CFPB) is looking into Bank of America as part of a probe that came out of the phony accounts scandal at Wells Fargo. Aldridge said in an email, according to reports. “We

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CFPB Credit Cards Consumer Financial Protection Bureau (CFPB) Regulations 69

Global Fintech & Digital Assets

DECEMBER 21, 2023

The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in BNPL lending. 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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PYMNTS

JANUARY 18, 2019

The Consumer Financial Protection Bureau (CFPB) has asked the United States Congress for the authority to supervise compliance of the Military Lending Act (MLA), the organization announced on Thursday (Jan.

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CFPB Consumer Financial Protection Bureau (CFPB) Authorization Compliance 48

PYMNTS

NOVEMBER 1, 2017

A small business (SMB) in Massachusetts borrowing funds via marketplace lender Kabbage has sued the platform, igniting new debate in the conversation over the definition of a “true lender,” according to reports in the National Law Review on Tuesday (Oct. Usury laws regulate how much interest can be charged on a loan.

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PYMNTS

MARCH 6, 2020

Consumer Financial Protection Bureau (CFPB), has asked Congress for the ability to pay whistleblowers in an attempt to incentivize them to speak out, according to a report by Reuters. We want to incentivize whistleblowers to contact us if they believe their employer is not complying with the law,” the agency said.

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PYMNTS

APRIL 24, 2019

The Consumer Financial Protection Bureau (CFPB) has announced changes to policies on Civil Investigative Demands (CIDs), which are investigational subpoenas issued by the CFPB. The Consumer Financial Protection Act of 2010 authorizes the CFPB to issue CIDs when looking into potential violations of the law.

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PYMNTS

FEBRUARY 11, 2019

As the payments landscape evolves and becomes ever more digital in scope, and as FinTech firms make inroads into traditional financial services, regulators are looking at FinTech credit — and how it might be defined and shaped. There seem to be no easy answers on just how to regulate the space. trillion.

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PYMNTS

OCTOBER 7, 2019

This means that tech firms will have to comply with and navigate numerous state laws that are in turn stricter than the federal bill would have put in place. Should companies be found in violation of those demands, fines equating to $750 per affected consumer may be levied. “I CFPB Unconstitutional?

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Privacy Consumer Financial Protection Bureau (CFPB) CFPB Laws 53

PYMNTS

FEBRUARY 3, 2020

On the basis of this fact-finding, the Commission will consider how best to address more systemic issues, including by ex ante regulation, if appropriate, to ensure that markets stay open and fair,” the paper noted. By way of example, the regulations would require a company such as Google to explain its search result processes.

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

Fi911

AUGUST 31, 2023

TILA is a federal law designed to promote the informed use of consumer credit by requiring disclosures about terms and cost. It aims to give consumers a more precise understanding of what they are agreeing to before signing on the dotted line. TILA is enforced by the Consumer Financial Protection Bureau (CFPB).

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PYMNTS

JULY 20, 2018

California lawmakers are considering legislation that would extend disclosure requirements currently required by consumer lenders to lenders of small business loan products, according to Manatt, Phelps & Phillips, LLP. According to the article’s authors, Thomas R. McMorrow and Charles E. Washburn, Jr., ”

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PYMNTS

JUNE 21, 2018

From planning for a worst-case scenario in the line of duty to buying new uniforms, law enforcement officers face financial stresses that aren’t always well-served by the typical civilian-focused bank. But while credit unions are wooing new members, they’re also feuding with some regulators. Around the Credit Union World.

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PYMNTS

APRIL 20, 2018

I am especially pleased that we were able to work closely and effectively with our colleagues at the OCC, and I appreciate the key role they played in the negotiations,” Consumer Financial Protection Bureau Acting Director Mick Mulvaney said in a statement. “As That is what we did here.”.

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PYMNTS

MARCH 25, 2019

A federal judge late last week ordered a stay on the August 2019 compliance date tied to the “ payday lending rule ” mandated roughly two years ago by the Consumer Financial Protection Bureau (CFPB).

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CFPB Rules Consumer Financial Protection Bureau (CFPB) Credit Union 51

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.

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

PYMNTS

MAY 23, 2019

The Consumer Financial Protection Bureau (CFPB) has expanded a financial education tool called Misadventures in Money Management (MiMM), which is aimed at educating service members and helping them manage their money. The CFPB announced the expansion on Thursday (May 23).

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The Fintech Times

MAY 1, 2024

Now, the Financial Conduct Authority (FCA) has revealed that it logged around 1.87 The FCA analyses and releases this data to evaluate financial firms’ treatment of customers and to track their performance over time. The UK regulator found that banking and credit cards saw a 3.2 Meanwhile, home finance (up 3.7 500million?

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PYMNTS

OCTOBER 14, 2019

financial regulations work. banks have to analyze AML regulations before even beginning to innovate, and the rules in question change often. Shifting laws and the advance of open banking are only two pieces of the AML innovation struggle, however, and the anti-fraud technologies that FIs can use are also changing rapidly.

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PYMNTS

AUGUST 1, 2018

The proposed changes include moving the collection and storage of small business lending data, required under the Dodd-Frank Act , from the Consumer Financial Protection Bureau (CFPB) to the Office of Financial Research (OFR). Suggestions included that the U.S.

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FICO

SEPTEMBER 19, 2022

Consumer Financial Protection Bureau (CFPB) announced the final rules interpreting the Fair Debt Collections Practices Act (FDCPA) on July 30, which went into effect on November 30, 2021. Regulation F has articulated prohibitions on harassment or abuse, false or misleading representations and unfair practices.

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Regs Consumer Financial Protection Bureau (CFPB) CFPB Regulations 52

PYMNTS

AUGUST 14, 2018

Separately, according to NPR, the administration is working broadly to roll back enforcement of the law and its provisions. The White House, according to NPR’s documents, seems sympathetic to industry requests that that regulation be rolled back. So why would the CFPB pull back under enforcement? New Lending Rules .

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CFPB Consumer Financial Protection Bureau (CFPB) Laws Regulations 40

PYMNTS

MARCH 5, 2018

game have been drawing increased scrutiny from regulators … everyone from exchange operators to miners. And in a world where the investments in ICOs have lurched into the billions of dollars, the regulation of a thus far unregulated (ICO) U.S. has been somewhat, at least arguably, late to the ICO regulation game.

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PYMNTS

OCTOBER 1, 2019

Last week the bipartisan Senate Entrepreneurship Caucus introduced the “Enhancing Entrepreneurship for the 21st Century Act,” she noted, and the Consumer Financial Protection Bureau (CFPB) has confirmed it will be boosting its efforts.

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PYMNTS

FEBRUARY 7, 2019

The next chapter in the ongoing saga that is payday loan regulation officially began yesterday (Feb. 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 Tumultuous Response.

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Clearly Payments

FEBRUARY 8, 2024

To ensure the smooth operation of this system and protect the interests of all stakeholders, a robust regulatory framework is in place. This article aims to provide an in-depth overview of the key regulatory organizations, payment regulations, and prevailing trends that shape payment regulation in the USA.

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

Fintech Labs Insights

MARCH 3, 2016

On February 18 the Consumer Financial Protection Bureau (CFPB) released the final version of its Policy on No-Action Letters. The policy is part of the CFPB’s Project Catalyst Initiative whose stated mission is to “support innovators in creating consumer-friendly financial produ cts and services.”

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CFPB Consumer Financial Protection Bureau (CFPB) Innovation FinTech 15

Tearsheet

MARCH 27, 2024

Regarded as distinct from payday lenders and viewed as a means for 60% of Americans who live paycheck-to-paycheck to break free from debt, financial regulators remain hesitant to fully endorse on-demand pay’s effectiveness. Last month, Montana’s attorney general asserted that EWA should not be subject to lending regulations.

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Finovate

DECEMBER 13, 2023

Here are some of the areas where regulators could make themselves felt by the fintech industry in 2024. Whether its the boardrooms of Silicon Valley or the halls of Congress, the call for regulating AI technology is only getting louder. As we enter 2024, the focus on AI-based regulations in the U.S. Unlike policy in the U.S.,

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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.

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

PYMNTS

JANUARY 27, 2020

To say that 2020 has already started off as a busy year for the Consumer Financial Protection Bureau (CFPB) might be an understatement. In the most recent news late last week, the CFPB said it would change the way it defines and addresses “ abusive ” practices within the financial services arena.

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FICO

NOVEMBER 7, 2022

US regulators seem poised to update the status quo for bank liability for authorized user/authorized push payment fraud, but just how big is the potential? On one side, there are regulators concerned about the perceived growth of scam losses through popular P2P payments apps like Zelle, Venmo and CashApp. FICO Admin. by TJ Horan.

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PYMNTS

NOVEMBER 29, 2016

That is because after almost two years of speculation on the subject, as of early January it was clear that Consumer Financial Protection Bureau (CFPB) was finally going to release proposed new regulations for the entire short-term lending industry. The PMYNTS PayDay Lending Primer.

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CFPB Credit Union Consumer Financial Protection Bureau (CFPB) Regulations 58

PYMNTS

DECEMBER 17, 2016

But for now, consumers are more likely to complain about their chatbot than laud its usefulness. To: the Consumer Financial Protection Bureau (CFPB). From: consumer advocates, payday lenders and consumers. That is more or less par for the course for the CFPB.

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PYMNTS

JANUARY 20, 2021

Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger handed in her resignation Wednesday (Jan. president, Bloomberg Law reported. Under her leadership, enforcement stalled in comparison to the CFPB’s former director, Richard Cordray, appointed by former President Barack Obama.

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PYMNTS

SEPTEMBER 4, 2020

million in restitution to borrowers the company duped, if a federal administrative law judge’s recommendation is implemented. The legal recommendation comes after the Consumer Financial Protection Bureau (CFPB) filed a complaint against Integrity Advance.

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