PYMNTS

JUNE 20, 2017

Prepaid card rules have been under fire ever since the Consumer Financial Protection Bureau (CFPB) put out its new regulations back in October 2016. As such, the CFPB has put out new regulations and is welcoming comments. New regulations would remove this limit.

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PYMNTS

APRIL 25, 2019

The Consumer Financial Protection Bureau (CFPB) announced Thursday (April 25) that it has issued a request for information on its remittance rule, which had faced calls by the Credit Union National Association for revision. The rules excluded a provider that does less than 100 transfers.

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PYMNTS

DECEMBER 12, 2019

In the lawsuit, filed in in the United States District Court for the District of Columbia, PayPal said the CFPB rule that requires disclosure for digital wallets and prepaid debit cards places “unreasonable restrictions” on consumers’ abilities to link certain credit products to PayPal accounts.

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PYMNTS

DECEMBER 4, 2019

In today’s payments news, the Consumer Financial Protection Bureau (CFPB) has proposed to boost the number of smaller banks and credit unions (CUs) that would not be governed by rules tied to international money transfers. CFPB Proposal On Remittances Offers Exemptions For Banks, CUs.

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Fintech Finance

MAY 24, 2024

The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers. Accordingly, Buy Now, Pay Later lenders must provide consumers some key legal protections and rights that apply to conventional credit cards.

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The Fintech Times

OCTOBER 22, 2024

We’re really carving new ground: expanding geographically, operating under brand new regulation, and defining our new payments capabilities for gaming – all while building the regulatory and operational infrastructure to enable that! Fintech continues to create new experiences for businesses and consumers.

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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). The ruling, per U.S.

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PYMNTS

JANUARY 13, 2020

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. In India, Reuters reports that the government has mulled changing the rules that govern digital content.

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PYMNTS

NOVEMBER 3, 2020

If data is the oil that brings change to financial services, the pipelines are increasingly under scrutiny. Late last week, the Consumer Financial Protection Bureau (CFPB) said it will look to issue advance notice of proposed rulemaking on “open banking” by the end of this year.

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PYMNTS

JANUARY 25, 2018

The Consumer Financial Protection Bureau (CFPB) has extended the effective date on its 2016 prepaid card rule, among other modifications announced today (Jan. The rule change has drawn some early praise from industry sources.

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PYMNTS

NOVEMBER 4, 2020

No Open And Shut Path For Open Banking As CFPB Mulls Rules. The Consumer Financial Protection Bureau (CFPB) has said it will look to issue advance notice of proposed rulemaking on “open banking” by the end of this year. NEW DATA: Five Payments Innovations For Winning The Digital-First Shopper.

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PYMNTS

JULY 8, 2020

CFPB Eases Payday Lending Rules. The federal Consumer Financial Protection Bureau (CFPB) has eliminated a rule that placed limits on payday lenders.

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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 Path To Revision.

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PYMNTS

MARCH 3, 2020

For those unfamiliar with the term, zombie debt is debt a consumer legitimately owed, but that has passed the statute of limitations for when the debt can be collected in a court and/or has passed the duration of time it can be reported to the credit reporting bureaus. Tightening the Rules.

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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

MARCH 6, 2019

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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PYMNTS

JANUARY 31, 2020

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit on Thursday (Jan. The CFPB said that Citizens Bank neglected to follow the rules for years by failing to properly manage credit card disputes. 30) against Citizens Bank over alleged violations of the Truth In Lending Act (TILA).

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PYMNTS

JULY 26, 2020

The nation’s consumer protection agency is seeking input on rule changes to third-party access to individual financial records.

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Consumer Financial Protection Bureau (CFPB) CFPB Consumer Privacy 69

PYMNTS

FEBRUARY 5, 2018

Last month, Canada’s Competition Bureau released its final study on tech-led innovation in FinTech, offering regulators some thoughts on competition in the payments sphere, along with suggestions on where the competitive landscape could be improved. If Starbucks goes under, the individual has lost the $20 they have put on the card.

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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

JULY 21, 2020

CFPB Consumer Complaints Up 50 Pct During Pandemic. 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. PIRG Education Fund.

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PYMNTS

OCTOBER 7, 2019

One key state law that is in place, and which help inform other laws, as has been reported, exists with the California Consumer Privacy Act , which in turn can be traced to the General Data Protection Regulation (GDPR) mandated by the European Union. CFPB Unconstitutional?

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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

JULY 20, 2018

” The publication likened the disclosure requirements to existing rules that require consumer lenders to disclose APRs under the federal Truth in Lending Act and Regulation Z. “The Responsible Banking Ordinance will help us protect consumers and hold businesses accountable for unscrupulous practices.”

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PYMNTS

MARCH 3, 2020

Some have pointed to a similar attempt by H&R Block, when it tried to purchase another do-it-yourself tax software company in 2011 but was blocked by regulators. Will New CFPB Rules Finally Be Able To Put Zombie Debt To Rest? billion raises serious antitrust concerns. percentage points lower than previously anticipated.

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Fi911

AUGUST 31, 2023

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. TILA is organized into sections: Section A: Defines the Act’s basic elements and rules.

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PYMNTS

JULY 11, 2017

And, as a result, higher fees for consumers levied by cautious lenders, when they lend at all? The Consumer Financial Protection Bureau (CFPB) has handed down a controversial ruling stating companies cannot opt to use arbitration clauses in their contracts with consumers in a manner that keeps consumers from joining class action lawsuits.

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PYMNTS

JUNE 17, 2019

This past week saw the Consumer Financial Protection Bureau (CFPB) offer up highlights of Kathleen Kraninger’s six-month tenure as director. In addition, the CFPB published proposed rules to delay implementation and reconsider Mandatory Underwriting Provisions of the small dollar rule.

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PYMNTS

JUNE 4, 2018

The Consumer Financial Protection Bureau (CFPB) said this past week that it is linking up with the Commodity Futures Trading Commission, eyeing a regulatory sandbox for FinTech firms. The sandbox is getting a bit bigger — the regulatory kind, that is. As noted at the time, the U.S. in sandbox development.

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PYMNTS

MAY 7, 2019

The latest salvo of proposed rule-making that would change the debt collection landscape seeks to include means of communication that were not on offer decades ago. Under the proposal that debuted Tuesday (May 7), collectors have to wait a week after talking to a consumer – at least over the telephone. Unlimited texting?

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Consumer Financial Protection Bureau (CFPB) CFPB Rules Consumer 46

PYMNTS

JANUARY 20, 2021

In broad strokes, open banking lays out a path and process for banks and other financial institutions (FIs) to share their customers’ data with third parties (even competitors), where that data tie into apps and new products and services. And though the initiative may have had ground zero in the U.K., Open Banking In The States .

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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

MAY 24, 2018

The guidance did not change any regulation, but clarified the regulator’s stance on the loans, Reuters reported. The rules were rescinded in 2017, leading to this guidance. The Consumer Bankers Association (CBA) said on Wednesday (May 23) that it welcomed a bulletin issued by the OCC.

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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. FIs will have to consider consumers as they craft strategies to shut cybercriminals down.

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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. Some say these new contact guidelines from Regulation F put customers in the driver’s seat.

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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

FEBRUARY 23, 2016

Less than two weeks after the compliance deadline for the TILA-RESPA Integrated Disclosure (TRID) rule , the CFPB issued its final rule revising HMDA (Regulation C). The Dodd-Frank Act directed the CFPB to expand the data reported under HMDA and provided it with rulemaking authority.

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