Fintech Finance

JANUARY 23, 2024

As political efforts intensify to combat junk fees across various sectors, a groundbreaking study conducted by Wise , the global technology company building the best way to move and manage money internationally, unveils a hidden landscape of fees plaguing the everyday lives of Americans.

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Payments Dive

MAY 30, 2024

“Putting these regulations into practice is challenging, and the success of such regulatory measures largely hinges on enforcement,” writes a Wise executive.

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Payments Dive

JULY 11, 2023

Regulators say Bank of America opened credit card accounts without customers’ consent and misled consumers with respect to rewards for card applications.

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Innovative Payments Association

JANUARY 10, 2024

So, it is not as though open banking regulations will give people more choices. ” 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. It is important to protect consumers, and regulation is an important part of that.

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Tearsheet

MARCH 27, 2024

Regarded as distinct from payday lenders and viewed as a means for 60% of Americans who live paycheck-to-paycheck to break free from debt, financial regulators remain hesitant to fully endorse on-demand pay’s effectiveness. Last month, Montana’s attorney general asserted that EWA should not be subject to lending regulations.

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Global Fintech & Digital Assets

MARCH 8, 2024

The rule targets a statutory loophole that the CFPB asserts large credit card issuers exploited to exact excessive late fees from consumers. Representative Maxine Waters, ranking member of the House Financial Services Committee, applauded the Rule and CFPB leadership for “finalizing this critical rule to slash credit card late fees.”

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Finovate

OCTOBER 28, 2024

From big banks to junk fees A story in today’s Washington Post highlights Vice President Kamala Harris’s tenure as California attorney general and her role in strengthening a “multibillion dollar mortgage settlement” with major banks in the wake of the Great Financial Crisis.

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