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

MARCH 9, 2020

Waters said the two also did not follow legal orders with the Consumer Financial Protection Bureau (CFPB), Federal Reserve Board and Office of the Comptroller of the Currency (OCC). Between 2016 and 2018, the Fed, CFPB and OCC petitioned Wells Fargo to institute internal changes to head off future problems.

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Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency OCC CFPB 57

PYMNTS

APRIL 13, 2018

The CFPB [Consumer Financial Protection Bureau] and OCC [Office of the Comptroller of the Currency] have collectively offered to resolve for an aggregate of $1bn in civil money penalties,” the bank said. “At million potentially unauthorized consumer and small business accounts.”. million from its past estimate of 2.1

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Office of the Comptroller of the Currency OCC CFPB Account Analysis 46

PYMNTS

SEPTEMBER 12, 2018

Reuters , citing three sources familiar with the matter, reported that the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) told the bank that it has to do more to make sure it has located and compensated everyone impacted by the practice.

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

PYMNTS

NOVEMBER 23, 2018

In June, Wells Fargo submitted a plan to regulators as part of a $1 billion settlement it reached with the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC). Wells Fargo is trying to avoid compensating all of the 600,000 drivers affected by its auto loan scandal.

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Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency OCC CFPB 49

PYMNTS

OCTOBER 11, 2017

Last week, after five years of debates, discussions, arguments and waiting, the Consumer Financial Protection Bureau’s (CFPB) final rules for payday lending dropped. As one might expect after such a long and intense build-up, the reactions were also fairly intense from both sides.

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Innovative Payments Association

FEBRUARY 24, 2025

Jonathan McKernan, the CFPB nominee, was nominated to head the CFPB on Feb. Until his confirmation, the CFPB will be run by Office of Management and Budget Director Russell Vought. He also said that the CFPB would not take any new money from the Federal Reserve because it had $711.6

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

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. However, 2022 should signal a change.

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CFPB Financial Inclusion OCC Rules 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. The FCC will issue updated interpretations of the Telephone Consumer Protection Act in 2020.

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AML Authentication Finance OCC 52

Global Fintech & Digital Assets

JANUARY 12, 2024

Endnotes [1] The FFIEC members are the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Consumer Financial Protection Bureau (CFPB), the National Credit Union Administration (NCUA), and the State Liaison Committee. [2]

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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.

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

The Fintech Times

JULY 20, 2024

Rohit Chopra, director at CFPB “Our financial system is essential infrastructure for the entire economy, and it is deeply reliant on a handful of powerful big tech cloud service providers,” said Consumer Financial Protection Bureau (CFPB) director, Rohit Chopra.

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Finovate

MAY 6, 2024

FDIC and CFPB have issued multiple consent orders to banks, citing their BaaS relationships as the cause. regulators– the Board of Governors of the Federal Reserve System, the FDIC, and the OCC– have published a new third party risk management guide for community banks. Since late 2023, the U.S.

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Regulations Community Banks FDIC Due Diligence 52

Segpay

MARCH 24, 2025

Fraud & Consumer Protection Strong player protection, self-exclusion, and responsible gambling measures. A Deeper Dive into Australia's Regulations Online Gaming (Esports & Video Games) Generally, falls under consumer protection and classification laws rather than gambling regulations.

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Compliance Suspicious Activity Report (SAR) Fincen AML 71

PYMNTS

AUGUST 1, 2018

The proposed changes include moving the collection and storage of small business lending data, required under the Dodd-Frank Act , from the Consumer Financial Protection Bureau (CFPB) to the Office of Financial Research (OFR). Suggestions included that the U.S.

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

PYMNTS

MAY 24, 2016

Proponents counter that what, from the outside, looks like terrible abuse is actually — for many consumers — the thin red line that stands between them and some really objectively terrible things, like repossession, eviction or the tender mercies of a collections agency. The payday borrower is an incredibly mainstream consumer.

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CFPB Rules FDIC Credit Union 41

PYMNTS

NOVEMBER 23, 2017

22) report by American Banker , New York Venture Bank, which will be headquartered in New York, needs the nod of the Office of the Comptroller of the Currency (OCC) before it can launch operations. According to a Wednesday (Nov. Citing documents filed with the Federal Deposit Insurance Corp. and John Flemming, Carpenter & Co.’s

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Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency FDIC Federal Reserve 40

PYMNTS

JUNE 9, 2018

Banks : And you thought it was just Wells Fargo: The Office of the Comptroller of the Currency looked at 40 banks, of the large and mid-sized variety, and found systemic problems (some of which the FIs scrambled to address and the OCC said those actions were sufficient redress) – such as opening accounts without consumer permission.

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Office of the Comptroller of the Currency OCC Blockchain Faster Payments 51

Payments Source

AUGUST 14, 2019

Regulatory sandboxes can create a lot of opportunity for the winners but inadvertently put losers at a competitive disadvantage.

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Payments Source

MARCH 29, 2017

The settlement, which requires judicial approval, will cover customers' fees and other costs related to about 2 million unauthorized accounts.

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Accounts Settlement OCC CFPB 60

Clearly Payments

FEBRUARY 8, 2024

The payment landscape in the United States is intricate, continuously evolving to accommodate innovations and meet the changing demands of consumers. Its primary objectives encompass safeguarding consumers, maintaining financial stability, promoting market integrity, preventing fraud and security breaches, and ensuring legal compliance.

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

PYMNTS

SEPTEMBER 12, 2017

Although it was approved in final form by the CFPB in July – after a lengthy and contentious rulemaking process – Republican lawmakers vowed to strike down the law within 24 hours of its passage via the Congressional Review Act. Arbitration clauses are currently inserted into a wide variety of consumer contracts. According to L.A.

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PYMNTS

APRIL 23, 2018

A one billion dollar fine has arrived on Wells Fargo’s doorstep as part of a “coordinated action” between the Consumer Finance Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC). Those customers did not ask for it, and in many cases did not want it. That is what we did here.”.

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OCC Credit Cards CFPB Office of the Comptroller of the Currency 40

Fintech Finance

MARCH 5, 2025

Congress, McHenry has introduced multiple bipartisan measures to expand consumer access to credit, and is a champion of an innovation-focused regulatory environment. “Consumers depend on affordable and efficient access to credit to realize their vision of the American dream. In his twenty plus years in the U.S.

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Advisors Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency BNPL 81

PYMNTS

OCTOBER 6, 2017

But today, the journey came to an end as the CFPB has offered its final ruling on the future of the payday and title lending industry in this country. That destruction is necessary, according to CFPB director Richard Cordray. With each renewed loan, the consumer pays more fees or interest on the same debt.

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CFPB Regs Rules Credit Union 51

PYMNTS

OCTOBER 9, 2018

About a year ago, the CFPB, which now goes by the BCFP, dropped the final version of its payday lending regulations. Lenders actually prefer customers who will re-borrow repeatedly,” then-CFPB Executive Director Richard Cordray said after releasing the new regulations last year. Payday loan revenues have plummeted from $9.2

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CFPB OCC Office of the Comptroller of the Currency Rules 56

PYMNTS

OCTOBER 6, 2017

But today, the journey came to an end as the CFPB has offered its final ruling on the future of the payday and title lending industry in this country. That destruction is necessary, according to CFPB director Richard Cordray. With each renewed loan, the consumer pays more fees or interest on the same debt.

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Rules CFPB Credit Union Regulations 40

PYMNTS

FEBRUARY 7, 2018

6), Comptroller of the Currency Joseph Otting had nothing but praise for acting Consumer Financial Protection Bureau (CFPB) Director Mick Mulvaney. ” Otting was also complimentary regarding some of Mulvaney’s decisions while at CFPB, including the reversal of the bureau’s payday rule.

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Rules Consumer Financial Protection Bureau (CFPB) OCC CFPB 43

PYMNTS

FEBRUARY 21, 2017

The CFPB was a few weeks away from releasing new draft regulations, and the money was on regs that would by and large neuter the industry. Payday lenders are not to allow consumers to reborrow immediately or carry more than one loan. As a result, the CFPB is looking a good deal more vulnerable than it did even six months ago.

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CFPB Regs Rules FTC 40

FICO

JANUARY 9, 2017

consumer lending market anticipated 2017 would be more of the same. The FDIC, Fed and OCC recently initiated the process for drafting new cybersecurity regulations for banks with assets exceeding $50 billion. fraud alerts) in accordance with the 1991 Telephone Consumer Protection Act (TCPA). Everything changed on November 8.

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Cybersecurity CFPB Regulatory Compliance Rules 78

FICO

JULY 17, 2017

These include eliminating the proprietary trading restrictions of the ‘Volcker’ Rule, major changes to the Financial Stability Oversight Council and the diminished authority and independence of the Consumer Financial Protection Bureau (CFPB).

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