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The shifting EWA regulatory framework and its impact on bank partnerships and instant payment adoption

Tearsheet

Moreover, there are fears that individuals living paycheck-to-paycheck may now be pushed into incurring bank overdraft fees when confronted with unforeseen expenses. The best case scenario for the consumer is to have banks remove more and more of the junk fees charged by banks,” said Nico Simko, founder and CEO of EWA provider Clair.

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CFPB Finalizes Rule Limiting Credit Card Late Fees

Global Fintech & Digital Assets

The Rule establishes two main changes to credit card late fee practice: Safe harbor lowered: The late fee safe harbor threshold is lowered to $8. No inflation adjustment: The automatic annual inflation adjustment permitted under the implementing statute no longer applies to the $8 late fee threshold.

CFPB 59