Payments Source

FEBRUARY 6, 2018

It is unclear whether the Consumer Financial Protection Bureau is abandoning its supervisory oversight of Equifax or just taking a back seat to the Federal Trade Commission as the latter investigates the credit bureau.

Federal Trade Commission 62

Federal Trade Commission CFPB Consumer Data Breach 62

Payments Source

MARCH 2, 2018

The Consumer Financial Protection Bureau is among several agencies that "continue to investigate events related to" last year's Equifax brief, the credit reporting firm said in a securities filing.

CFPB 63

CFPB Security Continuity Consumer 63

PYMNTS

JANUARY 13, 2020

A California CFPB? News came, too, that in California, Governor Gavin Newsom is unveiling plans to create a Consumer Financial Protection Bureau (CFPB) at the state level, which, according to reports, would overhaul the existing Department of Business Oversight. Penalties in the New Year.

Bots 52

Bots Consumer Financial Protection Bureau (CFPB) Regulations CFPB 52

PYMNTS

SEPTEMBER 22, 2017

Members of Congress are getting ready to grill Equifax CEO Richard Smith, who is set to testify about his company’s massive data breach that impacted as many as 143 million Americans. According to CNBC , Smith will answer to the Senate Banking Committee on Oct. He is already slated to appear before the U.S.

UDAAP 46

UDAAP Federal Trade Commission CFPB Breach 46

FICO

OCTOBER 7, 2022

Consumer Financial Protection Bureau (CFPB) announced that it would investigate the BNPL industry. On September 15 the CFPB issued a report suggesting that BNPL companies must be subjected to stricter oversight, a step toward regulation. The CFPB found that 10.5% The CFPB found that 10.5% So is regulation.

BNPL 52

BNPL Account Takeovers CFPB Consumer Financial Protection Bureau (CFPB) 52

PYMNTS

FEBRUARY 27, 2019

He cited research conducted by the Consumer Financial Protection Bureau (CFPB), and supported by Equifax, that approximately 26 million American consumers are credit invisible, and an additional 19 million consumers are not able to be scored because of “a lack of data or lack of recently reported information.”.

Consumer Financial Protection Bureau (CFPB) 63

Consumer Financial Protection Bureau (CFPB) CFPB Breach Law Enforcement 63

Fintech Labs Insights

MARCH 29, 2016

It’s hard to imagine that the CFPB–who isn’t actually tasked with enforcing information safeguarding (Congress left that with the FTC)–would impose civil fines on a company for safeguarding representations, when the company in question didn’t have a data breach. Kramer and Justin B. Hosie*. __. What happened.

CFPB 16

CFPB Data Security Security Data Breach 16

PYMNTS

JULY 27, 2016

Robert Siciliano, security expert and CEO of IDTheftSecurity.com, said that the huge jump in the instances of credit card fraud complaints last year are due to the increase number of data breaches that have taken place within the last five years. But since then, reported breaches have more than doubled.

Credit Cards 43

Credit Cards Federal Trade Commission Data Breach Identity Theft 43

PYMNTS

NOVEMBER 22, 2017

“This will help them as they worry about data breaches, and could help you minimize the incidents of fraudulent use of credit cards and debit cards and other payment methods.”

Consumer 49

Consumer Debit Card Credit Cards Credit Union 49

PYMNTS

OCTOBER 26, 2017

There are regulatory and compliance hurdles, the Consumer Financial Protection Bureau (CFPB) and a general cultural mood and attitude to overcome — plus a whole lot of negative publicity. The Equifax data breach is going to have consumers looking for new ways to borrow and credit agencies looking for new ways to lend, Schwartz said.

Consumer Financial Protection Bureau (CFPB) 49

Consumer Financial Protection Bureau (CFPB) CFPB Breach Data Breach 49

PYMNTS

DECEMBER 26, 2016

. “That data comes to us, and we match it with the data that came from a compromised company, and we score it. We do not like data breaches, so we want to really take away the ability for fraudsters to monetize that information,” he said. ” The Wells Effect. .” ” The Wells Effect.

Online and Mobile Banking 44

Online and Mobile Banking Economy Data Breach CFPB 44

PYMNTS

SEPTEMBER 25, 2017

First there was the massive data breach that sent the personal information of most of the U.S. Then there was the fake phishing site to which the credit rating agency accidentally referred a bunch of recently breached people, as they could not distinguish their own site from a cloned version of it.

FDIC 43

FDIC Federal Reserve Breach Data Breach 43

Payments Source

JUNE 28, 2018

Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties.

Breach 63

Breach Security Data Breach Risk Management 63

Payments Source

DECEMBER 5, 2017

An ex-regulator’s stern warning about the risks of sharing consumer information with fintechs has prompted debate over common security standards for banks and nonbanks, better data tracking and new liability insurance products.

Addressing 61

Addressing Risk Security FinTech 61

PYMNTS

SEPTEMBER 12, 2017

One week ago, the CFPB’s arbitration rule seemed more or less doomed to the scrap heap of financial regulatory history. The Comptroller of the Currency formally requested that the CFPB halt implementation of the rule while the OCC reviewed its effect on the banking industry. And, in fact, that is exactly what Equifax did.

CFPB 47

CFPB Rules Breach Disputes 47

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. Regulations mandate robust data security practices and require prompt notification of data breaches to affected parties.

Regulations 105

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

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. And it looks like the industry’s future is one that will be smaller – a lot smaller.

CFPB 51

CFPB Regs Rules Credit Union 51

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. And it looks like the industry’s future is one that will be smaller – a lot smaller.

Rules 40

Rules CFPB Credit Union Regulations 40

PYMNTS

SEPTEMBER 30, 2017

The Senate seems to be gearing up to overturn the recent CFPB rule on arbitration clauses — mandates that historically have been in place for whenever customers want to open up new accounts. If the Senate passes the ban on the ban, and President Trump signs it, the CFPB may be barred from ever restoring such resolutions.

ATM 40

ATM Federal Reserve CFPB On-Demand 40

PYMNTS

OCTOBER 6, 2017

Cyberattack insurance : The more headlines gather on data breaches, new ( Equifax ) and old ( Yahoo ), and the bad news keeps getting worse (both attacks have been more widespread than had been thought), the more firms are looking to boost their defenses. The CFPB looks set to pursue Equifax via investigation and a levying of fines.

Social Security 40

Social Security Security CFPB Compromise 40

PYMNTS

JULY 13, 2018

Amid all the headlines detailing the successful data breaches, and vulnerabilities of companies across any number of verticals, we don’t hear much about the successful efforts … to blunt those attacks. Though the focus is consumer fraud, there is indeed mention of fraud tied to cryptos and corporate fraud as well.

Risk 40

Risk Phishing Federal Trade Commission Debit Card 40

Finovate

MARCH 31, 2025

From the fallout from the Synapse bankruptcy to the data breaches at firms such as Fidelity and Finastra, banks, fintechs, and financial services alike have been put on notice to put greater scrutiny on whom and how they forge partnerships. The challenge of third-party risk in financial services was one of the biggest stories in 2024.

Risk 93

Risk Risk Management Assessments Compliance 93