PYMNTS

MAY 24, 2016

So, PYMNTS reached out to Pew and the director of its small-dollar loans project, Nick Bourke, to get their perspective on the payday loan problem, as the ecosystem eagerly awaits the coming round of CFPB draft rules on the subject. And that the CFPB can fix — narrowly. “They keep asking: Are payday loans good or bad?

CFPB 41

CFPB Rules FDIC Credit Union 41

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.

Regulations 52

Regulations Community Banks FDIC Due Diligence 52

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.

Small Business 40

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

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. According to L.A.

CFPB 47

CFPB Rules Breach Disputes 47

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. Office of the Comptroller of the Currency (OCC): As an independent bureau within the U.S.

Regulations 105

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

PYMNTS

OCTOBER 6, 2017

Headline writers found no shortage of dramatic ways to characterize the final version of the CFPB’s short-term lending rule that dropped yesterday (Oct. 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. “The clamp down.”

CFPB 51

CFPB Regs Rules Credit Union 51

PYMNTS

OCTOBER 6, 2017

Headline writers found no shortage of dramatic ways to characterize the final version of the CFPB’s short-term lending rule that dropped yesterday (Oct. 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. “The clamp down.”

Rules 40

Rules CFPB Credit Union Regulations 40

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. At its core, the new set of rules restricted a lender’s ability to continually collect fees on small loans by more tightly controlling how often, and how much, customers can borrow. billion in 2012 to $5.3

CFPB 56

CFPB OCC Office of the Comptroller of the Currency Rules 56

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.

Rules 43

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. When the draft rules were released in early June 2016 — all 1,400 pages of them — that concern became a certainty. Will the rule be pulled back?” Purcell asked hypothetically.

CFPB 40

CFPB Regs Rules FTC 40

FICO

JANUARY 9, 2017

This meant a continued focus on implementation of recently adopted rules, while bracing for a wave of new regulations from the federal banking agencies. Under the CRA, before a new regulation takes effect, Congress can take action (through a simple majority vote) on a joint resolution disapproving of the rule.

Cybersecurity 78

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).

Consumer Financial Protection Bureau (CFPB) 40

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

FICO

FEBRUARY 23, 2017

The freeze was followed by an Executive Order (“1 in, 2 out rule”) issued 10 days later that required for each new regulation issued by an agency, at least two prior regulations be identified for elimination. The “1 in, 2 out rule” has been critiqued as being complicated and difficult to implement.

Federal Reserve 40

Federal Reserve OCC CFPB FDIC 40