Payments Dive

SEPTEMBER 8, 2023

“Regulations imposed by Big Tech firms have a big impact on whether consumers and businesses can make payments using third-party apps,” CFPB Director Rohit Chopra said in a Thursday press release.

CFPB 183

CFPB Regulations Consumer Payments 183

Finovate

APRIL 3, 2025

Plaid’s delayed IPO likely reflects US open banking uncertainty, as the CFPB finalizes its data access rule. Waiting for regulatory clarity and consumer awareness could position Plaid for a stronger public debut down the road. The funding will support employee restricted stock units tax obligations and provide internal liquidity.

Consumer Financial Protection Bureau (CFPB) 141

Consumer Financial Protection Bureau (CFPB) CFPB Rules Consumer 141

PYMNTS

DECEMBER 23, 2020

Santander Consumer USA was ordered to pay $4.7 million to the Consumer Financial Protection Bureau ( CFPB ) for violating the Fair Credit Reporting Act (FCRA), the CFPB said in a press release. The CFPB also alleged in the order that the “internally inconsistent” errors should have been “readily apparent” to Santander.

CFPB 142

CFPB Consumer Financial Protection Bureau (CFPB) Non-Bank Origination 142

Bank Automation

JULY 18, 2024

The Consumer Financial Protection Bureau proposed an interpretive rule affecting earned wage products, or paycheck advance products, ensuring that employees are aware of costs and fees for these services, according to today’s CFPB release. Paycheck advance products allow employees real-time access to earned wages.

CFPB 127

CFPB Rules Product Consumer 127

Bank Automation

JANUARY 30, 2025

Electronic money services provider Wise is being ordered by the Consumer Financial Protection Bureau to pay $2.025 million in a civil money penalty for allegedly misleading U.S. The CFPB found that Wise sent false advertisements regarding ATM fees and free withdrawals, according to todays release from the bureau. clients about fees.

CFPB 52

CFPB FinTech ATM Automation 52

The Paypers

MAY 14, 2025

The US Consumer Financial Protection Bureau (CFPB) has dropped a 2023 settlement with Toyota’s financing arm, as well as its lawsuit against Walmart and workforce payments firm Branch.

Consumer Financial Protection Bureau (CFPB) 54

Consumer Financial Protection Bureau (CFPB) CFPB Settlement Finance 54

Bank Automation

MAY 7, 2024

million by the Consumer Financial Protection Bureau today as the digital bank has failed to give timely consumer refunds. According to Chime’s refund policy, the company is required to issue consumer refunds within 14 days. The CFPB found that Chime has not adhered to this policy, a move that has […]

CFPB 122

CFPB Consumer Payments 122

Bank Automation

MARCH 5, 2025

The immediate future is uncertain for the Consumer Financial Protection Bureau, and it might experience downsizing and less regulatory enforcement, but will eventually rise from the ashes, one of the agencys founders predicted during Bank Automation Summit 2025 on March 4 in Nashville, Tenn.

CFPB 59

CFPB Automation Posting Consumer 59

Payments Dive

MARCH 6, 2025

The Senate backed a resolution to overturn a Consumer Financial Protection Bureau rule that gave the agency oversight of big tech companies offering payment tools.

Rules 216

Rules CFPB Payments Tools Consumer 216

Payments Dive

MAY 7, 2025

The Consumer Financial Protection Bureau won’t prioritize enforcement actions related to buy now, pay later payments, the agency said in a notice.

CFPB 78

CFPB BNPL Rules Consumer 78

Bank Automation

DECEMBER 20, 2024

The Consumer Financial Protection Bureau announced today that it has sued Early Warning Services, Bank of America, JPMorgan and Wells Fargo for allegedly failing to implement anti-fraud safeguards on peer-to-peer payments network Zelle.

Zelle 52

Zelle CFPB Payment Networks Automation 52

Bank Automation

OCTOBER 28, 2024

LAS VEGAS — The Consumer Financial Protection Bureau Director Rohit Chopra hopes the financial services industry moves away from screen scraping although the CFPB’s Oct. 22 Section 1033 Open Banking Rule did not ban the practice outright. “I

CFPB 69

CFPB Automation Rules Posting 69

The Fintech Times

DECEMBER 9, 2024

Google has filed a legal challenge against the US Consumer Financial Protection Bureau (CFPB), the agency responsible for overseeing consumer finance, after it placed Google Payment Corp., The tech giant argues that the move, which the CFPB says is aimed at addressing potential consumer risks, constitutes regulatory overreach.

Consumer Financial Protection Bureau (CFPB) 75

Consumer Financial Protection Bureau (CFPB) CFPB Regulations Legal 75

Bank Automation

NOVEMBER 21, 2024

The top US consumer watchdog will supervise Apple Inc. The US Consumer Financial Protection Bureau will now treat those companies more like banks as long as they handle more than 50 million transactions a […] The post Apple Pay, other tech firms come under CFPB regulatory oversight appeared first on Bank Automation News.

CFPB 52

CFPB Automation Transactions Consumer 52

Fintech Finance

MAY 24, 2024

The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers. Accordingly, Buy Now, Pay Later lenders must provide consumers some key legal protections and rights that apply to conventional credit cards.

Disputes 97

Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer 97

Payments Dive

DECEMBER 3, 2024

With the proposal, the federal agency aims to crack down on fraudsters and others seeking to use sensitive personal information for illicit activities.

CFPB 173

CFPB Rules Consumer 173

Fintech Finance

JULY 15, 2024

Regulatory clarity and consistent standards are critical for providers offering safe, transparent and responsible financial services and even more important for consumers who expect protections when utilizing financial services including Buy Now Pay Later,” said Phil Goldfeder, Chief Executive Officer of AFC.

Consumer Financial Protection Bureau (CFPB) 98

Consumer Financial Protection Bureau (CFPB) CFPB Rules BNPL 98

PYMNTS

APRIL 13, 2020

The Consumer Financial Protection Bureau (CFPB) has made it easier for people to access stimulus CARES Act funds by removing some of the legal barriers barring banks from issuing the payments through prepaid accounts, according to a press release. CFPB Director Kathleen L. Many have been laid off as a result of that turmoil.

Electronic Fund Transfer Act (EFTA) 111

Electronic Fund Transfer Act (EFTA) CFPB Consumer Financial Protection Bureau (CFPB) Direct Deposit 111

PYMNTS

DECEMBER 23, 2020

The Consumer Financial Protection Bureau (CFPB) has settled with student loan servicers Discover Bank , The Student Loan Corporation and Discover Products (collectively Discover) in a 2015 case for unlawful practices, and Discover will have to pay $10 million in customer redress, a press release says.

CFPB 114

CFPB Consumer Financial Protection Bureau (CFPB) Governance Government 114

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. The CFPB also published a report examining employer-sponsored paycheck advance loans.

CFPB 105

CFPB Rules Product Consumer Financial Protection Bureau (CFPB) 105

PYMNTS

DECEMBER 30, 2020

Payactiv 's Earned Wage Access (EWA) program is exempt from federal lending law under new rules from the Consumer Finance Protection Bureau (CFPB), according to a press release. The CFPB recently clarified its position on EWA programs and said they weren't considered to be extensions of credit.

CFPB 106

CFPB Payroll Correspondent Rules 106

Payments Dive

NOVEMBER 3, 2023

The digital payments company said it’s cooperating with a Securities and Exchange Commission probe of its stablecoin, and a Consumer Financial Protection Bureau inquiry related to bank transfers.

CFPB 174

CFPB PayPal Stablecoins Digital Payments 174

Finextra

AUGUST 14, 2024

Responding to a call from the US Treasury, the Consumer Financial Protection Bureau (CFPB) and the American Fintech Council (AFC) have both weighed in on the use of AI in financial services.

Consumer Financial Protection Bureau (CFPB) 105

Consumer Financial Protection Bureau (CFPB) CFPB Treasury AI 105

Payments Dive

NOVEMBER 9, 2023

Consumer Financial Protection Bureau supervision “levels the playing field” in buy now, pay later, Affirm’s CEO Max Levchin said Wednesday.

CFPB 166

CFPB Consumer 166

Payments Dive

MARCH 14, 2022

In a rare TV appearance, the director of the Consumer Financial Protection Bureau said that the payments industry isn't competitive enough and that fee hikes by the big card companies would add "insult to injury" at a time of inflation. He noted new fintech tools could ultimately be a benefit if they add competition.

CFPB 174

CFPB FinTech Consumer Payments 174

Payments Dive

MAY 21, 2024

“Whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations,” CFPB Director Rohit Chopra said.

CFPB 97

CFPB Credit Cards BNPL Consumer Protection 97

Finextra

NOVEMBER 8, 2024

The Consumer Financial Protection Bureau (CFPB) has charged the US’s largest credit union for illegally charging users overdraft fees.

Consumer Financial Protection Bureau (CFPB) 103

Consumer Financial Protection Bureau (CFPB) Credit Union Junk Fees CFPB 103

Payments Dive

OCTOBER 20, 2023

The rule makes it easier for consumers to share deposit account and credit card data with fintechs, the Consumer Financial Protection Bureau said.

CFPB 157

CFPB Deposit Account Credit Cards Rules 157

Payments Dive

FEBRUARY 1, 2023

The Consumer Financial Protection Bureau proposed a new rule that would effectively cap credit card late fees and potentially save Americans $9 billion.

Credit Cards 167

Credit Cards CFPB Caps Rules 167

Payments Dive

MARCH 31, 2025

The buy now, pay later industry sued to block the consumer-friendly rule, arguing that the services are not the same as those offered via credit cards.

Rules 151

Rules CFPB BNPL Blocks 151

Payments Dive

APRIL 3, 2024

The Consumer Financial Protection Bureau received 70,000 card-related complaints from consumers last year, according to a report last week.

Credit Cards 173

Credit Cards CFPB Consumer 173

Payments Dive

JANUARY 14, 2025

Consumers who use BNPL take out multiple loans and have more personal debt than consumers who don’t use the payment method, according to a new report from the Consumer Financial Protection Bureau.

CFPB 167

CFPB BNPL Consumer Payments 167

Payments Dive

SEPTEMBER 16, 2022

The Consumer Financial Protection Bureau is weighing new rules and guidance for the fast-growing buy now-pay later industry after wrapping up a comprehensive report on it.

Rules 158

Rules CFPB BNPL Consumer 158

Bank Automation

AUGUST 23, 2024

The Consumer Financial Protection Bureau is facing additional challenges that call into question the legality of the bureau’s funding. The Supreme Court upheld the CFPB’s funding mechanism in May. In several recent lawsuits, companies sued by the CFPB for violations argue that the bureau is using funds it should not have.

CFPB 80

CFPB Legal Consumer Regulations 80

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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CFPB Consumer Authorization Accounts 123

Bank Automation

DECEMBER 23, 2024

and one of its financial technology partners allegedly opened expensive bank accounts for delivery drivers without their consent, a US consumer protection agency said on Monday. The Consumer Financial Protection Bureau claimed that Walmart and Branch Messenger Inc. Walmart Inc.

CFPB 52

CFPB Accounts FinTech Consumer Protection 52

Bank Automation

SEPTEMBER 11, 2024

TD Bank was ordered to pay $28 million in fines by the Consumer Financial Protection Bureau, which ruled the bank had shared inaccurate information about its customers to consumer reporting companies. Consumer reports are used by financial institutions and other lenders to determine access to credit, housing or employment.

CFPB 81

CFPB Rules Automation Consumer 81