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American Fintech Council (AFC) Responds to Consumer Financial Protection Bureau (CFPB) Interpretive Rule on Buy Now Pay Later

Fintech Finance

Regulatory clarity and consistent standards are critical for providers offering safe, transparent and responsible financial services and even more important for consumers who expect protections when utilizing financial services including Buy Now Pay Later,” said Phil Goldfeder, Chief Executive Officer of AFC.

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CFPB expands oversight of Big Tech payment apps

Finextra

The Consumer Financial Protection Bureau (CFPB) has finalised a rule that will see it supervise tech giants such as Apple and Google that offer digital payment apps and wallets.

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CFPB charges Navy Federal Credit Union $95 million for overdraft and junk fees

Finextra

The Consumer Financial Protection Bureau (CFPB) has charged the US’s largest credit union for illegally charging users overdraft fees.

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CFPB and American Fintech Council stake out AI positions to Treasury

Finextra

Responding to a call from the US Treasury, the Consumer Financial Protection Bureau (CFPB) and the American Fintech Council (AFC) have both weighed in on the use of AI in financial services.

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CFPB says startups and consumers must have say in open banking standard setting

Finextra

The Consumer Financial Protection Bureau (CFPB) has taken another step designed to promote open banking in the US, finalising a rule for recognising data sharing standards and preventing incumbents from "squelching" startups.

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JPMorgan ponders legal action over Zelle probe

Finextra

JPMorgan Chase is considering taking legal action against the Consumer Financial Protection Bureau (CFPB) over an ongoing probe into the abuse of Zelle payments by scammers.

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Climb Credit sued by CFPB for “false promises and outright lies”

Finextra

The Consumer Financial Protection Bureau (CFPB) has announced its suit against Climb Credit and its largest shareholder 1/0 for misrepresenting the quality of its training programmes at partner schools.