PYMNTS

JULY 14, 2017

In four words, the Federal Trade Commission (FTC) — which about a month ago gave its official thumbs down to the merger on antitrust grounds. The FTC complained that because DraftKings and FanDuel are each other’s largest competitors, their merger would create a single firm that “controls more than 90 percent of the U.S.

FTC

PYMNTS

MAY 2, 2016

Venmo may have managed to get itself into some trouble with the FTC – though how much, what for exactly and how worried parent company PayPal should be worried are a bit up in the air. Venmo’s FTC Troubles(?). We are cooperating with the FTC in connection with the CID.”. Need to know a bit more? Good news for you.

Legal

PYMNTS

AUGUST 22, 2016

Reality Check: The “P” In CFPB May Not Always Stand For Protect. The prepaid rules that they promised in the spring, after the deadline was pushed from the end of 2015, were promised to drop mid-summer. That would make mid-summer, by most accounts, two weeks ago – and we haven’t seen the promised rules.

Checks

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. __. Guest post by Erica A.N. Kramer and Justin B. Hosie*. __.

CFPB

PYMNTS

MARCH 14, 2017

According to an FTC report in 2013, a full 20 percent of consumers have an error on at least one of their three major credit reports. In a statement last month, the CFPB noted that it has identified “significant” issues with the quality of the credit information being provided by furnishers and kept by credit reporting companies.

CFPB

Fi911

AUGUST 31, 2023

TILA is enforced by the Consumer Financial Protection Bureau (CFPB). TILA is organized into sections: Section A: Defines the Act’s basic elements and rules. Section C: Deals with closed-end credit, detailing rules on disclosure, annual percentage rate calculation, and the right of rescission.

Consumer Financial Protection Bureau (CFPB)

FICO

NOVEMBER 7, 2022

It was even more surprising to me that the CEOs didn’t have the data right in front of them, given the signals coming from regulatory bodies like the Consumer Financial Protection Bureau (CFPB) about the need for more oversight for real-time P2P payments networks. All Parties Agree that Scams are Bad, But Not on Who Is Liable.

Scams

Clearly Payments

FEBRUARY 8, 2024

Moreover, by establishing rules for payment networks and financial institutions, regulation mitigates systemic risks and fosters fair competition, thereby enhancing market efficiency. They establish rules, standards, and fees for participating financial institutions and merchants.

Regulations

PYMNTS

AUGUST 19, 2019

Per the terms of the executive order, the Federal Trade Commission (FTC) will be asked to open a public complaint docket and to work with the FCC to investigate how these companies operate their platforms. CFPB and Payday Lending. In the UK, Too. August 19 is here, and a deadline comes and goes.

CFPB

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. 20) at the request of U.S.

Consumer Financial Protection Bureau (CFPB)

PYMNTS

DECEMBER 27, 2016

As is the general rule with years full of surprises, there are all kinds of objective lessons one can learn from 2016. Saying the CFPB had a busy year is true, if a bit misleading. Saying the CFPB had a busy year is true, if a bit misleading. The CFPB has had a busy year every year since it was created in 2011.

Finance

PYMNTS

JANUARY 19, 2021

As reported, President-elect Joe Biden nominated Rohit Chopra , a commissioner at the Federal Trade Commission (FTC), to lead the Consumer Financial Protection Bureau (CFPB), replacing Kathy Kraninger as director (who remains in her post in a term that technically runs through 2023, but is likely to be replaced by Biden).

CFPB

PYMNTS

JANUARY 18, 2021

Rohit Chopra , a commissioner at the Federal Trade Commission (FTC), is expected to be tapped by President-elect Joe Biden to head the Consumer Financial Protection Bureau (CFPB), according to the Wall Street Journal (WSJ) on Monday (Jan. Under Trump, the payday rule was revised in July. 16), citing sources.

CFPB

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. When the draft rules were released in early June 2016 — all 1,400 pages of them — that concern became a certainty. The FTC has been all over short-term lending,” Purcell reminded Webster. “A

CFPB

PYMNTS

JULY 23, 2018

A bit of pun there, but the Federal Trade Commission (FTC) — in the wake of the $5 billion fine via the European Union (EU), centered on the Android operating system and antitrust violations — is looking at the matter, too. As noted late last week, FTC Chairman Joseph Simons said to U.S. CFPB Pick Faces Scrutiny On The Hill.

Regulations

PYMNTS

JANUARY 3, 2017

If asked in September about what kind of year 2017 was going to be, CFPB officials most likely would have spoken mostly about their ongoing plans to make the world a better place for consumers. 8 when Donald Trump — an avowed opponent of Dodd-Frank, which gave the CFPB its life — actually won the White House. Dismantling Dodd-Frank.

CFPB

PYMNTS

NOVEMBER 28, 2017

Wherever you might come down on the current controversy over who’s really in charge at the CFPB, you have to admit it’s driven no shortage of headlines. Some of our favorites: “ Shootout at The CFPB Corral ”, “ Who’s the Boss ” and “…Two Acting Directors Show Up To Take Command; One Brings Doughnuts, The Other Well-Wishes.”.

CFPB