PYMNTS

MARCH 11, 2020

Officials at the Consumer Financial Protection Bureau (CFPB) included Duke on letters about things the bank needed to address. The report also said investigations showed that the “attitudes and failures on the part of Ms. Duke and Mr. Quigley” were alarming. .

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Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency CFPB Compliance 76

PYMNTS

MARCH 10, 2020

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Cincinnati-based Fifth Third Bancorp alleging that employees opened accounts for customers without their consent in an effort to reach sales targets, according to reports on Tuesday (March 10). The CFPB filed a complaint with the U.S.

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CFPB Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency Accounts 67

PYMNTS

JULY 26, 2020

The nation’s consumer protection agency is seeking input on rule changes to third-party access to individual financial records. CFPB’s approach has been to identify and promote consumer interests in terms of access, security and privacy and allow the market to develop without direct regulatory intervention.

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Consumer Financial Protection Bureau (CFPB) CFPB Consumer Privacy 69

The Paypers

JANUARY 20, 2023

The Consumer Financial Protection Bureau (CFPB) has addressed patterns and other tricks companies use to confuse and deceive consumers enrolled in subscriptions.

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Consumer Financial Protection Bureau (CFPB) CFPB Enrollments Addressing 36

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.

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CFPB Rules Product Consumer Financial Protection Bureau (CFPB) 105

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.

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CFPB Consumer Financial Protection Bureau (CFPB) Rules Error Resolution 52

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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CFPB Consumer Financial Protection Bureau (CFPB) Authorization Compliance 48

PYMNTS

AUGUST 19, 2016

That’s according to the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman, which released a report showing consumers complain of servicing problems that make it hard to get lower student loan payments tied to their income.

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CFPB Consumer Financial Protection Bureau (CFPB) Process Addressing 45

FICO

JUNE 11, 2021

Impressively, the Federal Reserve reported Q1 2021 delinquency rates on all consumer loans of 1.74%, the lowest mark in the 30+ years it has been tracked. According to the Consumer Financial Protection Bureau (CFPB), signs of trouble are already brewing.

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Risk Addressing Consumer Financial Protection Bureau (CFPB) Credit Risk 52

PYMNTS

SEPTEMBER 9, 2016

The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency have levied the highest penalties ever on the leading U.S. bank, but this is not the first time that Wells Fargo has been taken to task.

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Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency Deposit Account CFPB 40

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. Today is a day the U.S.

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Rules Consumer Financial Protection Bureau (CFPB) CFPB GLBA 52

PYMNTS

JANUARY 27, 2020

To say that 2020 has already started off as a busy year for the Consumer Financial Protection Bureau (CFPB) might be an understatement. In the most recent news late last week, the CFPB said it would change the way it defines and addresses “ abusive ” practices within the financial services arena.

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CFPB Consumer Financial Protection Bureau (CFPB) UDAAP Laws 71

PYMNTS

AUGUST 21, 2017

Wells Fargo, the embattled national bank , disclosed in a Securities and Exchange Commission (SEC) filing that the Consumer Financial Protection Bureau (CFPB), a government regulatory agency, is investigating if it closed accounts of customers that needed them.

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Consumer Financial Protection Bureau (CFPB) Accounts Identity Theft CFPB 42

PYMNTS

AUGUST 2, 2019

The Consumer Financial Protection Bureau (CFPB) has extended the comment period for its Notice of Proposed Rulemaking (NPRM) before it implements the Fair Debt Collection Practices Act (FDCPA), according to a press release. The comment period has been extended by 30 days until Sept.

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Consumer Financial Protection Bureau (CFPB) CFPB Non-Bank Origination 43

PYMNTS

MAY 8, 2019

Credit union (CU) and bank trade groups are locked in another battle, this time arguing about oversight by the Consumer Financial Protection Bureau (CFPB). However, a joint letter from the American Bankers Association (ABA) and Consumer Bankers Association (CBA) is fighting back against Nussle’s request.

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CFPB NCUA Consumer Financial Protection Bureau (CFPB) Credit Union 43

Neopay

MAY 28, 2024

Consumer Financial Protection Bureau (CFPB) issued a new interpretation under the existing Truth in Lending Act. It is baffling that the CFPB fails to acknowledge the fundamental differences between BNPL and credit cards in their guidance and this announcement does nothing to address the $1.15

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Credit Cards BNPL Consumer Financial Protection Bureau (CFPB) Regulations 52

PYMNTS

MAY 7, 2019

Under the tenure of Director Kathy Kraninger, the Consumer Financial Protection Bureau (CFPB) aims to limit some of the ways in which debt collectors can contact debtors, while expanding others. The embrace of bits and bytes continues to the workplace, after a fashion.

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Consumer Financial Protection Bureau (CFPB) CFPB Rules Consumer 46

PYMNTS

FEBRUARY 27, 2019

Yet, it has been more than 15 years since Congress enacted comprehensive reform of the consumer reporting system, and there are numerous shortcomings with the current system that need to be addressed.”.

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Consumer Financial Protection Bureau (CFPB) CFPB Breach Law Enforcement 63

PYMNTS

AUGUST 14, 2018

The fallout from a series of consumer scandals and accelerated loan repayments, due to an improving economy, are the causes for the smaller portfolio, Rasmussen said. The penalty forbids the bank from boosting its total assets beyond year-end 2017 levels, and will remain in place until the bank addresses its pattern of abuses and lapses.

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Consumer Financial Protection Bureau (CFPB) Governance Government Federal Reserve 40

PYMNTS

NOVEMBER 27, 2017

The Consumer Financial Protection Bureau (CFPB) is gearing up to sue Spain-based Santander Bank, claiming the bank has overcharged its car loan customers. Citing sources familiar with the CFPB’s plans, Reuters reported that the CFPB suit could happen as soon as Monday (Nov.

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CFPB Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency Product 40

PYMNTS

DECEMBER 4, 2017

Consumer watchdog group the Consumer Financial Protection Bureau (CFPB) has notified Signet Jewelers — the parent company of Zales, Kay Jewelers and Jared — that it may take future action against the company for its in-store credit practices.

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CFPB Consumer Financial Protection Bureau (CFPB) Identity Theft Social Security 41

PYMNTS

MARCH 10, 2020

Chairwoman Waters highlighted the fact that the OCC has pointed to tens of thousands of cases requiring remediation for consumer abuse. The coronavirus was also brought up at the hearing: McHenry asked how the company was addressing the threat.

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Consumer Financial Protection Bureau (CFPB) Accounts Office of the Comptroller of the Currency OCC 52

PYMNTS

FEBRUARY 3, 2020

On the basis of this fact-finding, the Commission will consider how best to address more systemic issues, including by ex ante regulation, if appropriate, to ensure that markets stay open and fair,” the paper noted. CFPB Files Suit Against Citizens Bank.

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Consumer Financial Protection Bureau (CFPB) CFPB Digital Currency Central Bank 52

The Fintech Times

JULY 20, 2024

“The CESG is now a proven model and a new way for the financial services sector to effectively address our most significant cybersecurity challenges.”

Treasury 59

Treasury FS-ISAC Consumer Financial Protection Bureau (CFPB) Due Diligence 59

Payment Savvy

NOVEMBER 30, 2021

In 2020, the Consumer Financial Protection Bureau (CFPB) published two rules which implement the Fair Debt Collection Practices Act (FDCPA). While the revised legislation currently offers greater consumer protections, it is also likely to result in new consumer abuses.

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Regulations Consumer Financial Protection Bureau (CFPB) CFPB Rules 52

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. The group of accountants sent a letter to the Financial Accounting Standards Board that has requested a task force to address “lack of clarity” in accounting standards.

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CFPB Consumer Financial Protection Bureau (CFPB) Money Laundering Cryptocurrency 43

PYMNTS

NOVEMBER 14, 2018

Researchers are beginning to explore the potential for on-demand wages to address some of professionals’ personal cash flow challenges. However, as awareness grows about the dangers of predatory payday lenders and the costs of bank overdrafts, employees demand better alternatives. In the U.S.,

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On-Demand Payroll Consumer Financial Protection Bureau (CFPB) Real Time Payments 58

Global Fintech & Digital Assets

DECEMBER 21, 2023

BNPL in US, UK, and EU Regulators’ Sights The Consumer Financial Protection Bureau (CFPB) has been actively monitoring BNPL activity in the consumer finance marketplace for some time now.

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OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

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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CFPB Rules Consumer Financial Protection Bureau (CFPB) Consumer 56

FICO

SEPTEMBER 9, 2021

The use of overdraft services has been extensively researched by organizations such as the Pew Charitable Trusts , and the Consumer Financial Protection Bureau (CFPB). Researchers often cite the negative financial impact of fee-based overdraft on the most financially fragile consumers.

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Consumer Financial Protection Bureau (CFPB) CFPB Reg E ATM 52

The Fintech Times

MAY 1, 2024

Chris Reed , executive director of insurance broker Protect Line “This rigorous environment, unique to our industry, ensures that consumer grievances are not just heard but addressed meticulously, offering a pathway to the Financial Ombudsman Service for further adjudication if needed. 500million?

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Consumer Financial Protection Bureau (CFPB) Volume Consumer On-Demand 59

PYMNTS

MARCH 5, 2018

Turning to the CFPB…. The Consumer Financial Protection Bureau (CFPB) continues to evolve under the stewardship of acting director Mick Mulvaney. As reported, Mulvaney might opt to let other regulatory agencies supervise efforts related to consumer compliance.

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Consumer Financial Protection Bureau (CFPB) Request for Information Bitcoin Cryptocurrency 49

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. Section B: Addresses open-ended credit products.

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Consumer Financial Protection Bureau (CFPB) Risk Mitigation Online and Mobile Banking Non-Bank 52

PYMNTS

FEBRUARY 5, 2018

Against that backdrop, many of the Bureau’s recommendations focused on modernizing regulation, making sure that it can last for a long time, driven by broad principles. Coming to market, among the issues that need to be most urgently addressed is that regulation should be proportionate to risk. Closer to Home.

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Regulations Consumer Financial Protection Bureau (CFPB) CFPB Bitcoin 41

FICO

OCTOBER 7, 2022

Consumer Financial Protection Bureau (CFPB) announced that it would investigate the BNPL industry. On September 15 the CFPB issued a report suggesting that BNPL companies must be subjected to stricter oversight, a step toward regulation. So is regulation. Regulation Is Coming for US BNPL firms.

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BNPL Account Takeovers CFPB Consumer Financial Protection Bureau (CFPB) 52

FICO

JANUARY 5, 2023

The CFPB's New Open Banking Proposal Will Accelerate Exciting Product Innovations. For those in the financial services industry, 2023 will be the year when U.S. regulators take a major step in addressing the emerging open banking landscape.

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BNPL CFPB Consumer Financial Protection Bureau (CFPB) Cybersecurity 52

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. It's an opportunity to improve the way you interact and engage with your customers. Embrace it. FICO Admin. by Cyril Cherian.

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Regs Consumer Financial Protection Bureau (CFPB) CFPB Rules 52