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.

CFPB 48

CFPB Consumer Financial Protection Bureau (CFPB) Consumer Protection Authorization 48

PYMNTS

AUGUST 22, 2016

The Consumer Financial Protection Bureau (CFPB) announced on Friday (Aug. The Consumer Financial Protection Bureau (CFPB) announced on Friday (Aug. The new additions being announced today bring experience and knowledge that will help inform the CFPB’s work going forward.”.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Credit Union Consumer 40

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). In addition, the nine CUs currently under CFPB supervision are all in the top 1 percent of depository institutions.

CFPB 43

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

PYMNTS

JULY 26, 2020

The nation’s consumer protection agency is seeking input on rule changes to third-party access to individual financial records. Congress created the legislation in 2010 that created the CFPB. Its mission is to help ensure consumers have access to and the ability to leverage the data in their records.

Consumer Financial Protection Bureau (CFPB) 69

Consumer Financial Protection Bureau (CFPB) CFPB Consumer Privacy 69

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.”

CFPB 56

CFPB Rules Consumer Financial Protection Bureau (CFPB) Consumer 56

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.

CFPB 40

CFPB Consumer Protection Regulatory Compliance FTC 40

The Fintech Times

JULY 15, 2024

The new proposed interpretive rule would ensure that nonbank financial companies adhere to the same credit card lending rules as large banks, credit unions, and other financial institutions already supervised by the CFPB. In a letter , it applauded the CFPB for its 2022 report on BNPL and its continued engagement with industry leaders.

BNPL 64

BNPL Consumer Financial Protection Bureau (CFPB) CFPB Request for Comment 64

The Fintech Times

MAY 22, 2024

The Consumer Financial Protection Bureau (CFPB), a US government agency responsible for protecting consumers in the financial sector, has ruled that buy now, pay later (BNPL) lenders must treat consumers as credit card providers do, ensuring they receive the same key protections.

BNPL 64

BNPL Credit Cards Consumer Financial Protection Bureau (CFPB) CFPB 64

PYMNTS

JULY 26, 2016

Moreover, given the fact that the CFPB uses these databases as part of its various enforcement actions, it has essentially created a version of Yelp, where enough bad reviews can net a multi-million dollar fine. A House bill introduced in June would require the CFPB to verify all claims made in complaints.

CFPB 40

CFPB Database Consumer Multi-Currency 40

PYMNTS

MARCH 9, 2018

The Consumer Financial Protection Bureau (CFPB) introduced a final rule on Thursday (March 8) that it said will help mortgage servicers communicate with borrowers who are facing bankruptcy. The CFPB said the Truth in Lending Act requires that mortgage servicers provide borrowers with periodic statements.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Rules Legal 40

PYMNTS

JUNE 8, 2017

The Consumer Financial Protection Bureau (CFPB) released a study Wednesday (June 7) that shows the way consumers establish their credit history can differ based on their economic background. The CFPB noted that in 2015 11 percent of U.S.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Consumer Finance 40

PYMNTS

SEPTEMBER 15, 2017

Senator Elizabeth Warren also announced that she has begun an investigation into the hack, explaining in a letter to the Consumer Financial Protection Bureau (CFPB), the agency she helped create after the 2007-2009 financial crisis, that it may require additional powers to ensure closer federal oversight of credit reporting agencies. “Is

Consumer Financial Protection Bureau (CFPB) 54

Consumer Financial Protection Bureau (CFPB) CFPB Data Breach Breach 54

PYMNTS

FEBRUARY 3, 2020

The creation of a “single European data space, a genuine single market for data” would include new rules governing cross-border use and data interoperability, among other tenets. Separately, the movement by at least some central governments to embrace digital currencies continues. CFPB Files Suit Against Citizens Bank.

Consumer Financial Protection Bureau (CFPB) 52

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

Finovate

JULY 24, 2024

On top of all of this, we’ve seen the CFPB take measures to further consumer protection, such as last week’s proposed interpretive ruling stating that some earned wage access tools should be considered loans. In the U.S., there has been increased scrutiny of banking-as-a-service partnerships.

Checks 59

Checks FinTech Embedded Finance CFPB 59

FICO

JANUARY 5, 2023

VP, Government Relations. The CFPB's New Open Banking Proposal Will Accelerate Exciting Product Innovations. The Consumer Financial Protection Bureau (CFPB) has indicated it will publish rules , not guidelines, aimed at strengthening consumers’ control over and providing portability of their financial account data, sometime in 2023.

BNPL 52

BNPL CFPB Consumer Financial Protection Bureau (CFPB) Cybersecurity 52

FICO

JANUARY 13, 2020

The CFPB will issue its final debt collection rule in the fall of 2020. Forty-two years after the enactment of the Fair Debt Collections Practices Act, the CFPB proposed the first set of rules governing third-party debt collection activities. banking industry in the 2020. . Congress takes the lead in promoting AML/CFT reform.

Authentication 52

Authentication AML Finance OCC 52

FICO

APRIL 10, 2017

The esteemed panel consisted of a mix of veteran policy and business leaders, including: Maria Wolvin, Vice President and Senior Counsel of Regulatory Affairs at ACA International; Terry Collins, Collections and Recovery Manager at Trustmark National Bank; and Lucia Lebens, Vice President of Government Relations and Public Policy at Navient.

CFPB 40

CFPB Rules Regulations Compliance 40

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. Physical or emotional distress damages.

Regulations 52

Regulations Consumer Financial Protection Bureau (CFPB) CFPB Rules 52

FICO

DECEMBER 20, 2021

with New Rules Promulgated by the CFPB. After more than a decade of waiting, the Consumer Financial Protection Bureau will issue long-awaited regulations, in accordance with section 1033 of the Dodd-Frank Act , that provide consumers with a right of access to their financial information.

CFPB 52

CFPB Financial Inclusion OCC Rules 52

PYMNTS

APRIL 17, 2018

The rules were created to protect drivers who use indirect auto loans financed through a dealership, which are backed by banks. In March 2013, the CFPB put limits on loan markups and compensation for dealers on these auto loans, specifically on the basis of race, national origin, or credit score.

Consumer 40

Consumer CFPB Rules Origination 40

PYMNTS

NOVEMBER 20, 2017

Hennessy noted that regulators at both the federal and state levels are refocusing on consumer protection. Simply counting the number of complaints that rack up on sites such as the Better Business Bureau, the CFPB or the Ripoff Report is not enough.

Risk 49

Risk Processors Legal Verification 49

PYMNTS

JANUARY 16, 2018

They also argue that the federal and state governments have no right of regulation here, because tribal sovereignty is protected by treaty. Tribal lenders have even fought the CFPB’s demand for records at various times, on the argument that sovereign immunity also frees them from supervision by the Bureau.

Laws 47

Laws Regulations CFPB Caps 47

PYMNTS

JANUARY 17, 2019

The relationship between the House Financial Services Committee and the Consumer Financial Protection Bureau (CFPB) is about to change. Her talk to the group hit on a variety of topics, including the government shutdown and its effects on government workers and departments.

CFPB 53

CFPB Consumer Financial Protection Bureau (CFPB) Shutdown Government 53

Clearly Payments

FEBRUARY 8, 2024

Consumer Financial Protection Bureau (CFPB): Established in response to the 2008 financial crisis, the CFPB is tasked with protecting consumers in the financial marketplace. It monitors and enforces regulations related to payment products and services to ensure fair treatment and transparency for consumers.

Regulations 105

Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 105

PYMNTS

JULY 19, 2018

The Consumer Financial Protection Bureau (CFPB) has announced that Paul Watkins, a lawyer, will lead the agency’s newly created Office of Innovation. “I Before joining CFPB, Watkins was working at the Arizona Office of the Attorney General, where he was in charge of the office’s FinTech initiatives.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Innovation Regulations 40

PYMNTS

APRIL 20, 2018

According to a report in the Financial Times , more than a dozen attorneys general in states around the country in December expressed alarm about the appointment of Mick Mulvaney as the acting director of the CFPB, pointing out he once called the government watchdog a “joke…in a sick, sad kind of way.”

CFPB 42

CFPB Void Non-Bank Laws 42

PYMNTS

MAY 11, 2018

NTEU will fight legislative and agency proposals that would starve the CFPB of the resources and personnel necessary to do the job as required by statute,” said Tony Reardon, president of the National Treasury Employees Union.

CFPB 40

CFPB Treasury Process Consumer 40

PYMNTS

JANUARY 20, 2021

Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger handed in her resignation Wednesday (Jan. While at the CFPB, Kraninger rolled back payday lender regulations, finalized debt collection laws and made changes to consumer finance regulations, Bloomberg Law reported. billion in consumer relief.

Consumer Financial Protection Bureau (CFPB) 105

Consumer Financial Protection Bureau (CFPB) Consumer Protection CFPB Consumer 105

PYMNTS

JULY 7, 2020

The federal Consumer Financial Protection Bureau (CFPB) has eliminated a rule that placed limits on payday lenders, handing a victory to the sector. Consumer protection advocates insist such lenders are predatory and take advantage of vulnerable, low-wage earning Americans.

CFPB 56

CFPB Consumer Financial Protection Bureau (CFPB) Rules Underwriting 56

PYMNTS

DECEMBER 27, 2016

We can’t say we know what’s next for P2P lending, the CFPB or subprime borrowers — nor do we think anyone else can either — but we can tell you that how those stories unfold will make a very big difference to the shape of financial services yet to come and who will (and won’t) be included as part of the mainstream financial system.

Finance 46

Finance CFPB P2P Underwriting 46

PYMNTS

JANUARY 15, 2020

The New York Department of Financial Services (DFS) has announced that Leandra English, the former deputy director of the Consumer Financial Protection Bureau (CFPB), has been named special policy advisor to DFS Superintendent Linda Lacewell, according to a release. English worked under former CFPB Director Richard Cordray.

CFPB 52

CFPB Advisors Consumer Financial Protection Bureau (CFPB) Credit Union 52

FICO

DECEMBER 15, 2020

For the past several years, industry has been anxiously waiting for the FCC to clarify one of the most unsettled areas of the now antiquated, nearly three decades old Telephone Consumer Protection Act. The AI Policy Discussion Will Be Focused on Governance and Standards Development. New Debt Collection Rules Are Here to Stay.

BSA 52

BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52

PYMNTS

MARCH 8, 2019

Mulvaney was a critic of the CFPB before he was made director. When he was in charge, he called for many of the rules and regulations put in place by the CFPB to be scaled back. Critics argue Kraninger will run the CFPB similar to how Mick Mulvaney did. Critics argue Kraninger will run the CFPB similar to how Mick Mulvaney did.

CFPB 57

CFPB Consumer Protection Regulations Rules 57

PYMNTS

JANUARY 18, 2018

Mick Mulvaney, President Donald Trump’s appointed acting director of the Consumer Financial Protection Bureau (CFPB), did not request any funding for the watchdog agency in the second quarter budget. Mulvaney also noted the money not being tapped by the CFPB could be used by the U.S.

CFPB 40

CFPB Consumer Financial Protection Bureau (CFPB) Request for Information Federal Reserve 40

PYMNTS

JANUARY 3, 2017

The CFPB is casting a critical eye on overdraft fees charged by banks — despite facing an uncertain future in the Trump administration. Still, CFPB boosters remain hopeful and encourage the agency to carry on much as it has, for as long as it can.

CFPB 41

CFPB Office of the Comptroller of the Currency Regulations Tax Refunds 41

PYMNTS

JUNE 18, 2018

In an effort to roll back more oversight powers of the Consumer Financial Protection Bureau (CFPB), the White House is nominating a budget official to serve as the watchdog agency’s next director. We look forward to hearing her views on consumer protection during confirmation hearings.

CFPB 49

CFPB Consumer Financial Protection Bureau (CFPB) Government Governance 49

PYMNTS

MARCH 7, 2017

Any quick survey of the comments from House or Senate members after a meeting about the CFPB or the financial regulatory structure in general will likely tell a story of two dueling realities. In all the time I’ve been in government, I’ve never seen an agency that’s had more accusations of racial discrimination.

Regulations 55

Regulations CFPB Government Governance 55