PYMNTS

JANUARY 13, 2020

It’s a new year, and in Europe, an expansion of scrutiny and laws governing data sharing. The dawn of 2020 brought a spate of new rules governing data collection and use. And, as has been reported, breaching these rules means companies may be fined by the EU the equivalent of up to 4 percent of revenues. A California CFPB?

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PYMNTS

SEPTEMBER 11, 2019

A network to better coordinate financial innovation among federal and state regulators is being launched by the Consumer Financial Protection Bureau (CFPB) in partnership with several states, the agency said in a press release. State regulators in every state were invited to join. .

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Global Fintech & Digital Assets

DECEMBER 18, 2023

By Jenny Cieplak , Parag Patel , Barrie VanBrackle , and Deric Behar On November 7, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule, Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications (the Proposal), to supervise large providers of digital wallets and payment apps.

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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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PYMNTS

MARCH 3, 2020

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. Justice Elena Kagan said the CFPB has a structure that was similar to the Social Security office. “So,

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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). This federal law, known as Regulation F goes into effect on November 30, 2021. In that case, you must comply with this comprehensive new rule.

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PYMNTS

OCTOBER 7, 2019

Reuters reported that Congress is not likely to pass a federal data protection bill in 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. CFPB Unconstitutional?

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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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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. Some parts of the rules, however, did remain intact. The Path To Revision. The Tumultuous Response.

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Tearsheet

MARCH 27, 2024

The ongoing tug-of-war in regulations has left some states at odds regarding the rules governing this still relatively new service in the US. Under Connecticut’s new banking guidance, EWA providers will have to adhere to the state’s small loan law provisions. Taking a different stance, Clair’s Simko supports the forthcoming EWA laws.

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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. ”

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PYMNTS

FEBRUARY 11, 2019

The Consumer Financial Protection Bureau (CFPB) is seeking to overhaul a series of regulations that had been recently put into place — in 2017, to be exact, and set to go into effect in August 2019. As reported, the loan regulations were put into place during the tenure of the CFPB’s Richard Cordray.

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PYMNTS

DECEMBER 3, 2019

In the years ahead, might there be a greater number of smaller financial institutions (FIs) offering remittance services? As Bloomberg Law reported Tuesday (Dec. The reduced burden would impact about 400 banks and 250 CUs, according to the Financial Post.

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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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The Fintech Times

MAY 1, 2024

While a completely complaint-free world remains an ideal, the reality of human error necessitates a framework that not only resolves issues but learns from them to better serve consumers. This, alongside mandatory root cause analysis, ensures that complaints lead to systemic improvements rather than temporary fixes. 500million?

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PYMNTS

OCTOBER 14, 2019

banks have to analyze AML regulations before even beginning to innovate, and the rules in question change often. Working consumer access into the already-fraught field of AML protection creates problems, too, as banks need to be sure they are accurately authenticating the customers in question before sharing data with potential fraudsters.

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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. Mon, 09/19/2022 - 15:00.

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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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PYMNTS

AUGUST 14, 2018

Separately, according to NPR, the administration is working broadly to roll back enforcement of the law and its provisions. Peterson noted that the revised rules could also allow dealers to roll in all kinds of other add-on products. New Lending Rules . So why would the CFPB pull back under enforcement?

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FICO

NOVEMBER 7, 2022

It was even more surprising to me that the CEOs didn’t have the data right in front of them, given the signals coming from regulatory bodies like the Consumer Financial Protection Bureau (CFPB) about the need for more oversight for real-time P2P payments networks.

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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.

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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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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. Grievance: You managed to draft rules that are bad for literally everyone involved.

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Clearly Payments

FEBRUARY 8, 2024

Through transparent disclosures, dispute resolution mechanisms, and limits on consumer liability, regulations shield consumers from deceptive practices and ensure their financial well-being. It monitors and enforces regulations related to payment products and services to ensure fair treatment and transparency for consumers.

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Finovate

DECEMBER 13, 2023

the EU’s AI Act is set to become law early next year. the Consumer Financial Protection Bureau (CFPB) has been studying the BNPL industry since at least late 2021. At this point, much of the CFPB’s impact on BNPL has been minimal. Unlike policy in the U.S., The only question was when.

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PYMNTS

MAY 2, 2019

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against a credit repair firm, its subsidiaries and associates for asking customers to pay upfront fees, it announced Thursday (May 2). The CFPB filed a complaint against PGX Holdings Inc. The CFPB filed a complaint against PGX Holdings Inc.

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PYMNTS

FEBRUARY 3, 2020

The creation of a “single European data space, a genuine single market for data” would include new rules governing cross-border use and data interoperability, among other tenets. According to the newswire, the new rules would also prevent larger tech firms from “unilaterally imposing conditions for access” and data use. “On

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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. Supreme Court has ruled could happen.

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PYMNTS

JUNE 29, 2020

Supreme Court has struck down a key feature of the Consumer Financial Protection Bureau (CFPB) that limited presidential authority to fire the agency’s chief. The bureau was one of the major regulatory reforms that followed the epic economic collapse of the Great Recession.

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PYMNTS

MARCH 2, 2020

To that end, Apple said last week that it set a deadline of June 30 for app developers to comply with Chinese laws surrounding mobile video games. But as CNBC has noted, the licensing rules could make it harder for smaller independent game makers to get their games published. CFPB Structure to Get Supreme Court Hearing.

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PYMNTS

APRIL 30, 2018

Elizabeth Warren, putting more pressure on acting Consumer Financial Protection Bureau (CFPB) director, sent a letter asking Mick Mulvaney if he is helping the industries that he is supposed to be overseeing.

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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. Mulvaney often said that under Obama, the CFPB overreached enforcement against companies.

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PYMNTS

APRIL 11, 2018

There seems to be some debate as to what the final laws might be and what the House may seek to do in terms of adding its own stamp to what the Senate has done. Another difference is related to the breadth of the repeal of the Volker rule,” he told PYMNTS. And what lies on the horizon? Internationally.

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PYMNTS

APRIL 3, 2018

In the first Consumer Financial Protection Bureau (CFPB) semi-annual report issued under acting director Mick Mulvaney’s watch, the newly installed agency head stated the CFPB is “all too powerful.”. And the mechanism for that power? I look forward to discussing these changes with Congressional members.”.

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PYMNTS

APRIL 11, 2018

In his first semiannual report to Congress, Mick Mulvaney said he is taking a narrow approach to running the Consumer Financial Protection Bureau (CFPB). In addition, he said the agency should have lawmaker approval before creating any new rules.

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PYMNTS

SEPTEMBER 13, 2018

Dodd-Frank was signed into law in 2010 against a backdrop that saw inflation at about 9.9 In direct impact to banking, Dodd-Frank also limited “prop” (or proprietary) trading at banks, which was meant to limit risky trading (this is tied to the Volcker Rule).

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