Innovative Payments Association

JANUARY 10, 2024

The proposed rule would require banks, credit unions, and other financial services companies to share account and transaction data with consumers and authorized third parties. ” Most people would agree that customers should have access to their data, but the CFPB seems to believe that every fee is a “junk” fee.

Junk Fees 52

Junk Fees CFPB Rules Direct Deposit 52

Tearsheet

MARCH 27, 2024

Many banks and credit unions are moving quickly to offer RTP capabilities to their business clients, who are in turn looking to offer EWA options to employees,” Jim Colassano, SVP of product development and strategy at The Clearing House, told Tearsheet.

Instant Payments 65

Instant Payments RTP Consumer Financial Protection Bureau (CFPB) FedNow 65

Global Fintech & Digital Assets

MARCH 8, 2024

Challenges Expected Like the original proposal, the Rule is facing intense criticism from market participants and trade groups representing banks and credit unions. Conclusion The Rule is another win for the consumer financial regulator against what it calls “junk fee harvesting” in the banking and credit sectors.

CFPB 59

CFPB Credit Cards Rules Card Issuer 59