Open Banking Excellence

JULY 8, 2025

Consumer Financial Protection Bureau (CFPB) had worked to address these regulatory gaps by developing new rules under the Dodd-Frank Act’s Section 1033. However, in mid-2025, the CFPB moved to vacate its own final rule, stating it exceeded its statutory authority. has seen a more fragmented, market-driven evolution. In the U.S.,

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PYMNTS

NOVEMBER 3, 2020

Late last week, the Consumer Financial Protection Bureau (CFPB) said it will look to issue advance notice of proposed rulemaking on “open banking” by the end of this year. The document released by the CFPB specifically targets the implementation of Section 1033 of the Dodd-Frank Act. Beyond the Comment Period.

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CFPB Consumer Financial Protection Bureau (CFPB) Rules Authorization 79

PYMNTS

OCTOBER 11, 2016

11) said the CFPB violated the Constitution’s separation of powers because the director of the CFPB isn’t “sufficiently answerable to the president.”. We therefore hold that the CFPB is unconstitutionally structured,” the court said. Court of Appeals for the District of Columbia Circuit today (Oct. a mortgage lender.

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Payments Source

APRIL 13, 2020

The Consumer Financial Protection Bureau wants to make it easier for those who lack bank accounts to receive pandemic relief payments authorized by Congress.

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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. The requested authority would complement the work the Bureau currently does to enforce the MLA.

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Global Fintech & Digital Assets

DECEMBER 18, 2023

By Jenny Cieplak , Parag Patel , Barrie VanBrackle , and Deric Behar On November 7, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule, Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications (the Proposal), to supervise large providers of digital wallets and payment apps.

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PYMNTS

MARCH 6, 2020

Consumer Financial Protection Bureau (CFPB), has asked Congress for the ability to pay whistleblowers in an attempt to incentivize them to speak out, according to a report by Reuters. Lately, the CFPB has gotten backlash for bringing in fewer enforcement cases, but there is a very low expectation for legislation during the election year.

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Open Banking Excellence

OCTOBER 6, 2023

Your guide to the Consumer Financial Protection Bureau's (CFPB) imminent proposals for a new regulatory framework governing “Personal Financial Data Rights” The US will propose a new “Open Banking Rule” this year which will set the foundations for an ecosystem with the potential to become the largest in the world.

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PYMNTS

JULY 20, 2020

The Consumer Financial Protection Bureau (CFPB) has recorded record-high numbers of complaints every month since the pandemic hit in mid-March, according to a press release from the U.S. The CFPB was off to a good start after the last economic crisis,” said Mike Litt , U.S. PIRG Education Fund.

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PYMNTS

SEPTEMBER 18, 2019

In a civil investigation that recently came to light, the Consumer Financial Protection Bureau (CFPB) is looking into Bank of America as part of a probe that came out of the phony accounts scandal at Wells Fargo. The investigation surfaced when the CFPB posted documents on the web that covered its wrangling with the firm.

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PYMNTS

OCTOBER 12, 2016

appeal of the 2014 $109M financial penalty imposed by the CFPB. Currently, the CFPB Director, who reports to the President, can only be removed for cause. Not surprisingly, the verdict has drawn sharp responses across the board from opponents and supporters of the CFPB alike.

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Payments Dive

MARCH 24, 2025

The Consumer Financial Protection Bureau asked a federal court for more time to respond to a lawsuit over its authority to oversee big tech payments players.

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Innovative Payments Association

JANUARY 14, 2025

Proposals to repeal existing regulations through the Congressional Review Act (CRA), calls to eliminate the Consumer Financial Protection Bureau (CFPB), and other deregulatory measures suggest significant changes may be on the horizon. However, industry leaders must temper their expectations.

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Finovate

JULY 3, 2025

On the consumer side, users will not need to enter card details, but will instead be able to authorize the payment directly from their bank accounts using biometrics. ” Bringing pay-by-bank to two European nations is strategic, as the payment method within the EU is expected to reach 30 billion by 2028.

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PYMNTS

MAY 8, 2017

Things are getting tougher for the Consumer Financial Protection Bureau (CFPB) under the new political administration. More banks are now willing to challenge CFPB enforcement actions, said The Wall Street Journal. This already exceeds the total number of challenges the CFPB saw across 2016. The controversial U.S.

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Payments Dive

JUNE 20, 2025

Editors picks Spencer Platt/Getty Images via Getty Images Zelle, big banks challenge senators on scam reimbursements Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing. Please select at least one newsletter. You can unsubscribe at anytime.

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Cross-Border Payments Cross-Border Privacy Settlement 88

PYMNTS

APRIL 24, 2019

The Consumer Financial Protection Bureau (CFPB) has announced changes to policies on Civil Investigative Demands (CIDs), which are investigational subpoenas issued by the CFPB. The Consumer Financial Protection Act of 2010 authorizes the CFPB to issue CIDs when looking into potential violations of the law.

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PYMNTS

SEPTEMBER 25, 2017

Because Equifax is not strictly a financial company, there was uncertainty over whether the CFPB has the power to penalize the firm for the breach. The CFPB and legal experts said the regulator could pursue Equifax under an aspect of the Dodd-Frank Act that bans unfair, deceptive and abusive acts and practices (UDAAP). Last week, U.S.

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Finextra

OCTOBER 23, 2024

The Bank Policy Institute and Kentucky Bankers Association have filed a lawsuit against the Consumer Financial Protection Bureau, alleging that the regulatory agency overstepped its authority on the release of new open banking rules

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PYMNTS

MAY 30, 2018

The Consumer Financial Protection Bureau (CFPB) has announced that it is working with the Commodity Futures Trading Commission to develop a regulatory sandbox for FinTech firms. “We While the Dodd-Frank Act allows the CFPB to implement ways to foster innovation, the agency’s efforts have largely been seen as inadequate.

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PYMNTS

MARCH 25, 2019

A federal judge late last week ordered a stay on the August 2019 compliance date tied to the “ payday lending rule ” mandated roughly two years ago by the Consumer Financial Protection Bureau (CFPB). The CFPB had asked the court to wait until a separate case had been decided.

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PYMNTS

JANUARY 25, 2019

The Consumer Financial Protection Bureau (CFPB) announced on Friday (Jan. By debiting the bank accounts of its users without authorization, the company violated the Consumer Financial Protection Act of 2010, the Bureau claimed. But, “in many instances,” the company debited different accounts that had not been authorized by consumers.

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PYMNTS

JANUARY 3, 2019

The Consumer Financial Protection Bureau (CFPB) announced on Thursday (Jan. In addition, USAA violated the Consumer Financial Protection Act of 2010 by reopening previously closed deposit accounts without authorization from customers, or prior notice. million in civil money penalty.

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PYMNTS

JULY 16, 2018

In a press release, the CFPB said it found NCA and Hochstein used a network of debt collection companies to collect debt from consumers, with some engaging in unlawful debt collection acts and practices that harmed consumers. While Security Group said it disagreed with the CFPB, it agreed to pay the fine so that it could close the matter.

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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. At The State Level.

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PYMNTS

JULY 26, 2020

The announcement by the Consumer Financial Protection Bureau ( CFPB ) comes on the heels of a symposium it held in February which included experts from consumer groups, financial technology (FinTech) companies, trade groups, banks and data aggregators. Congress created the legislation in 2010 that created the CFPB.

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PYMNTS

MARCH 17, 2016

Testimony delivered on Wednesday (March 16) by National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger may signal a contentious debate over assertions by the Consumer Financial Protection Bureau (and Director Richard Cordray) that the CFPB does not need to make a greater effort to exempt credit unions from regulations.

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PYMNTS

APRIL 28, 2016

The CFPB has its eye on the biggest marketplace lenders in the U.S., The new idea being floated involves classifying marketplace lenders, who operate online and also offer smaller loans with set payments, as installment lenders that are under the CFPB’s jurisdiction and regulations.

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Payments Dive

JUNE 20, 2025

Editors picks Spencer Platt/Getty Images via Getty Images Zelle, big banks challenge senators on scam reimbursements Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing. Please select at least one newsletter. You can unsubscribe at anytime.

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Push-to-Card Privacy Settlement Zelle 88

PYMNTS

NOVEMBER 9, 2020

Financial Conduct Authority (FCA), said in an interview with PYMNTS that the pandemic has helped shine a spotlight on the infrastructure underpinning the great digital shift toward online and contactless transactions. The CFPB specifically targets the implementation of Section 1033 of the Dodd-Frank Act.

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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. In addition, the CFPB published proposed rules to delay implementation and reconsider Mandatory Underwriting Provisions of the small dollar rule.

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Payments Source

MARCH 26, 2018

As the agency pulls back its enforcement efforts, it opens the door for state authorities to pursue more cases against financial startups for their data collection and privacy practices.

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The Paypers

JANUARY 17, 2025

Technology trade groups NetChoice and TechNet have announced their decision to sue the US Consumer Financial Protection Bureau (CFPB) to oppose a new rule providing the regulator with supervisory authority over payment apps and digital wallets.

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FICO

NOVEMBER 7, 2022

Fighting Scams and Authorized Push Payment Fraud in the US. US regulators seem poised to update the status quo for bank liability for authorized user/authorized push payment fraud, but just how big is the potential? In multiple geographies around the world, there has been a strong focus on authorized push payment fraud.

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PYMNTS

JULY 20, 2016

The vast majority of United States senators have penned a letter urging the CFPB to let community banks and credit unions live free from additional regulations. “We request that the CFPB carefully tailor its regulations to match the unique nature of community banks and credit unions,” the letter stated.

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PYMNTS

MARCH 3, 2020

president has the authority to fire the leader of the Consumer Financial Protection Bureau (CFPB), which was formed after the financial crisis, according to the Financial Times. The CFPB was founded in 2010. he said about the potential conflict between the president’s cabinet and the CFPB.

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PYMNTS

JANUARY 1, 2021

s Competition and Markets Authority (CMA) — chiefly for a new watchdog group — the proposed regulatory regime is intended “harness the full potential of digital markets, driving greater competition and innovation,” according to a CMA statement. The seeming intent across the pond to reign in Big Tech’s scope also is echoed in the U.K.

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