Axway

NOVEMBER 22, 2022

Consumer Financial Protection Bureau (CFPB) has just announced the coming of a new U.S. open banking rule , accelerating the move toward open banking in North America. The aim is to solidify personal financial data … The director of the?Consumer

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The Paypers

JANUARY 18, 2024

The Consumer Financial Protection Bureau (CFPB) has proposed a rule to curb excessive overdraft fees charged by large financial institutions.

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The Paypers

OCTOBER 20, 2023

The Consumer Financial Protection Bureau (CFPB) has proposed a Personal Financial Data Rights rule set to expedite the shift to Open Banking in the US and jumpstart competition.

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Finovate

JUNE 6, 2024

Late last month, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule stating that Buy Now, Pay Later (BNPL) lenders are credit card providers. This ruling is slated to have some significant impact on BNPL, which was once one of the hottest subsectors in fintech. territories.

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Finovate

OCTOBER 22, 2024

financial services community has been waiting for for at least a year– the Consumer Financial Protection Bureau (CFPB) issued its final 1033 rule making. The CFPB states that the rule promotes competition and consumer choice, and will ultimately help improve customer service.

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Finextra

JANUARY 24, 2024

America's Consumer Financial Protection Bureau (CFPB) has proposed a rule that would stop banks charging non-sufficient fund fees for transactions that are declined in real time.

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Finextra

MARCH 12, 2024

The US Chamber of Commerce has filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) to stop it from implementing a rule to limit late credit card fees.

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Finextra

MARCH 5, 2024

The Consumer Financial Protection Bureau (CFPB) finalized a rule today to cut excessive credit card late fees by closing a loophole exploited by large card issuers.

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The Paypers

MAY 22, 2024

The Consumer Financial Protection Bureau ( CFPB ) has issued an interpretive rule to ensure federal control over Buy Now, Pay Later (BNPL) returns and disputes in the US.

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The Paypers

OCTOBER 27, 2022

The US Consumer Financial Protection Bureau (CFPB) has announced it will move forward with an Open Banking rule.

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Axway

JANUARY 26, 2023

A recent announcement from Director Chopra of the Consumer Financial Protection Bureau (CFPB) openly declares the coming of a U.S. open banking rule, representing a significant shift in the financial services landscape. The announcement recognizes the importance of common standards …

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Fintech Finance

JULY 19, 2024

The Consumer Financial Protection Bureau (CFPB) has proposed an interpretive rule explaining that many paycheck advance products, sometimes marketed as “earned wage” products, are consumer loans subject to the Truth in Lending Act. Comments will be accepted until August 30, 2024.

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BioCatch

MAY 31, 2024

As of the October term of 2023, the United States Supreme Court had taken on an appeal of a decision to review a possible constitutional conflict in the interpretation of the funding mechanism for the Consumer Financial Protection Bureau (CFPB).

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NFCW

NOVEMBER 27, 2023

The US Consumer Financial Protection Bureau (CFPB) is proposing to subject large non-bank companies that offer consumer finance services including digital wallets and payment apps – such as Apple and Google – to the same regulatory scrutiny and oversight as banks, credit unions and other financial institutions.

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The Fintech Times

JULY 15, 2024

The new proposed interpretive rule would ensure that nonbank financial companies adhere to the same credit card lending rules as large banks, credit unions, and other financial institutions already supervised by the CFPB.

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PYMNTS

DECEMBER 23, 2020

Santander Consumer USA was ordered to pay $4.7 million to the Consumer Financial Protection Bureau ( CFPB ) for violating the Fair Credit Reporting Act (FCRA), the CFPB said in a press release. During that time frame, Santander reportedly sent incorrect information on millions of accounts to the CRAs.

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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

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.

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PYMNTS

MAY 13, 2019

The Consumer Financial Protection Bureau (CFPB) announced that is reviewing the Federal Reserve ‘s overdraft protection rule to find out if it “should be amended or rescinded” to minimize “any significant economic impact” to small businesses (SMBs) and credit unions.

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PYMNTS

APRIL 13, 2020

The Consumer Financial Protection Bureau (CFPB) has made it easier for people to access stimulus CARES Act funds by removing some of the legal barriers barring banks from issuing the payments through prepaid accounts, according to a press release. Many have been laid off as a result of that turmoil.

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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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The Fintech Times

MAY 22, 2024

The Consumer Financial Protection Bureau (CFPB), a US government agency responsible for protecting consumers in the financial sector, has ruled that buy now, pay later (BNPL) lenders must treat consumers as credit card providers do, ensuring they receive the same key protections.

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The Fintech Times

JANUARY 3, 2024

The American Fintech Council (AFC) has submitted its response to the Consumer Financial Protection Bureau (CFPB) on its open banking proposal. The CFPB proposed a change on personal financial data rights implementing Section 1033 of the Dodd-Frank Act.

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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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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

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

MARCH 9, 2018

The Consumer Financial Protection Bureau (CFPB) introduced a final rule on Thursday (March 8) that it said will help mortgage servicers communicate with borrowers who are facing bankruptcy. The CFPB said the Truth in Lending Act requires that mortgage servicers provide borrowers with periodic statements.

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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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PYMNTS

FEBRUARY 6, 2020

House Committee on Financial Services, Maxine Waters , told the head of the Consumer Financial Protection Bureau (CFPB), Kathy Kraninger , that the organization needs to do better. The rebuke came from prepared remarks delivered at a committee hearing called “Protecting Consumers or Allowing Consumer Abuse?

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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

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

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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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

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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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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PYMNTS

MARCH 3, 2020

It’s a problem widely reported and most recently acknowledged by the Consumer Financial Protection Bureau ( CFPB ), which estimates that millions of U.S. consumers are contacted about time-barred debt each year — and that this behavior “can pose consumer protection concerns.”

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