PYMNTS

JANUARY 25, 2018

The Consumer Financial Protection Bureau (CFPB) has extended the effective date on its 2016 prepaid card rule, among other modifications announced today (Jan. Jason Oxman, CEO of the Electronic Transactions Association (ETA), said, “We applaud the leadership of the CFPB in extending the overall effective date of the prepaid rule.

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CFPB Consumer Financial Protection Bureau (CFPB) Rules Error Resolution 52

PYMNTS

JUNE 6, 2018

s appeal of a $109 million penalty caused a legal battle over the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) structure, agency officials are recommending that Director Mick Mulvaney dismiss the company’s case, American Banker reported. After PHH Corp. ’s The company was ordered to pay more than $6 million.

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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). The credit union industry is not small, special or immune to the consumer risks [that the CFPB] is charged by Congress to address,” the bank trades wrote, according to American Banker.

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PYMNTS

FEBRUARY 2, 2017

The Consumer Financial Protection Bureau (CFPB) announced Wednesday (Feb. The CFPB went on to contend that UniRush then failed to provide customer service to many consumers who reached out for help during the service breakdown. The CFPB also fined Mastercard and UniRush $3 million.

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CFPB Consumer Financial Protection Bureau (CFPB) Visa Direct Deposit 40

PYMNTS

JUNE 25, 2018

Zillow , the online real estate company, disclosed Monday (June 25) that the Consumer Financial Protection Bureau (CFPB) dropped a previously disclosed investigation into the company. Zillow said in the SEC filing that it responded in March of 2017 and held discussions with the CFPB following that.

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CFPB Consumer Financial Protection Bureau (CFPB) Procedures Settlement 43

PYMNTS

MARCH 17, 2016

Testimony delivered on Wednesday (March 16) by National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger may signal a contentious debate over assertions by the Consumer Financial Protection Bureau (and Director Richard Cordray) that the CFPB does not need to make a greater effort to exempt credit unions from regulations.

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CFPB Credit Union Rules Procedures 40

PYMNTS

OCTOBER 26, 2016

In the fallout of Wells Fargo’s scandal over unauthorized customer accounts, regulators may force publicly-traded banks to adhere to in-person of sales practices and procedures. Wells Fargo employees secretly opened unauthorized accounts to hit sales targets and receive bonuses,” CFPB Director Richard Cordray stated last month.

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PYMNTS

APRIL 26, 2016

Over the course of hundreds of thousands of suits, said the CFPB, the firm used automated systems to bring claims, in high volumes, from 2009 through 2014. Now, said the CFPB, the law firm, the partners and the debt collector cannot file lawsuits unless they review account-level data and ascertain that information is accurate.

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PYMNTS

JANUARY 21, 2021

Plus, the chief of the CFPB stepped down at Biden’s request. Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger handed in her resignation Wednesday (Jan. Dominick Colabella, CEO of Rectangle Health, told Karen Webster a drop in elective procedures has even put large hospitals at a financial risk.

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OCC Consumer Financial Protection Bureau (CFPB) Treasury Office of the Comptroller of the Currency 72

PYMNTS

JANUARY 22, 2019

Could it be that the CFPB, under new Executive Director Kathy Kraninger , will be moving directly to eliminate the more controversial provisions of its payday lending rule? Last October, the CFPB announced it would “revisit” the rules. Sources now report that the CFPB has decided to eliminate the provision entirely.

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Rules CFPB Underwriting Regulations 61

Finovate

OCTOBER 22, 2024

financial services community has been waiting for for at least a year– the Consumer Financial Protection Bureau (CFPB) issued its final 1033 rule making. The CFPB states that the rule promotes competition and consumer choice, and will ultimately help improve customer service. Today is a day the U.S. Here are a aspects to note.

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The Paypers

JUNE 8, 2025

The firm has been granted the authorisation by the Brazilian Central Bank, aiming to accelerate its development process, as well as its commitment to the local market and the procedure of offering improved opportunities in the competitive environment.

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Payments Institute Central Bank Payments Cybersecurity 46

PYMNTS

AUGUST 7, 2017

consumers $15 billion in 2016, according to news from the Consumer Financial Protection Bureau (CFPB), the government watchdog that is out with a new report on the impact of bouncing checks in American finance. All told, the CFPB estimates $15 billion was charged by large banks, small ones and credit unions. Overdraft fees cost U.S.

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PYMNTS

JUNE 13, 2018

The restrictions are scheduled to take effect next year, but lenders — along with the CFPB — sued to have that deadline delayed while the agency takes a closer look at the regulations. In fact, earlier this year CFPB’s acting director Mick Mulvaney revealed that the agency was going to “reconsider” rules regarding payday loans.

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Rules CFPB Credit Union Procedures 44

Finovate

MAY 16, 2025

The CFPB’s Section 1033 rule was put into place last October to grant consumers the right to access and share their financial data with third parties. At the same time, in the US, the open banking movement is still waiting to take off. However, the rule has faced legal challenges and potential revisions.

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Payment APIs and Integration CFPB Rules Use Case 52

Global Fintech & Digital Assets

JANUARY 12, 2024

The director would be required to hold quarterly meetings with financial institutions to discuss examination procedures, practices, and policies. The director would need to review FFIEC examination procedures to ensure that the written examination policies of those agencies are being followed in practice and applied consistently.

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CB Insights

NOVEMBER 2, 2017

Regtech software is digitizing compliance procedures and eliminating the backlog. The next wave of regtech will leverage advanced technology like machine learning, natural language processing (NLP), and blockchain to replace old policies and procedures. Office of the Comptroller of the Currency, the CFPB, and the city attorney.

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Compliance Regulations Audit Office of the Comptroller of the Currency 72

PYMNTS

AUGUST 14, 2018

Though the CFPB dropped their final payday lending regulations last October, their ultimate fate and shape have been something of an open question since the agency formally went under new management in late November 2017. The CFPB also reiterated the request for a formal stay on the implementation of the rules as written.

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CFPB Rules Laws Regulations 40

FICO

JANUARY 5, 2023

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.

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BNPL CFPB Consumer Financial Protection Bureau (CFPB) Cybersecurity 52

Global Fintech & Digital Assets

DECEMBER 21, 2023

BNPL in US, UK, and EU Regulators’ Sights The Consumer Financial Protection Bureau (CFPB) has been actively monitoring BNPL activity in the consumer finance marketplace for some time now.

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OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

PYMNTS

AUGUST 22, 2016

These governments are stepping up their processes and procedures to include ways to require identification for anyone who tries to buy it. Reality Check: The “P” In CFPB May Not Always Stand For Protect. Well, at the end of the day, the consumers who are supposed to be protected (hey, that’s what the P in CFPB stands for).

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Checks CFPB Bitcoin Payments 41

Fi911

AUGUST 31, 2023

TILA is enforced by the Consumer Financial Protection Bureau (CFPB). For instance, the right of rescission for certain transactions, advertising regulations, and procedures for resolving credit billing errors. Payment Schedule: Information regarding the number, amounts, and timing of payments scheduled to repay the obligation.

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PYMNTS

JANUARY 20, 2017

Navient: The CFPB is suing the loan servicer for, in part, steering customers into forbearance when they might have qualified for lower payments. On the upside, most of the larger banks said the difficulties will be more procedural than technical – although adjusting to the new order will likely be harder than anyone is expecting.

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Payments Dive

JUNE 23, 2025

Measures to defund the Consumer Financial Protection Bureau and to reduce salaries at the Federal Reserve are outside the limits of Senate reconciliation procedures, the chamber’s parliamentarian ruled Thursday.

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Federal Reserve Blocks CFPB Procedures 78

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 mandates disclosure of terms and conditions, error resolution procedures, and limits on consumer liability for unauthorized transactions.

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

PYMNTS

JANUARY 22, 2021

PYMNTS explores with Westlake Financial how in-depth contingency planning, strong customer onboarding and verification methods and other procedures can assist auto lenders in securely providing real-time payments. CFPB Changes Expected as Biden Administration Settles In . Fun, Cool and Otherwise Interesting.

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Online and Mobile Banking RTP CFPB Debit Card 91

The Fintech Times

JANUARY 8, 2025

However, according to the CFPB , it has been providing inaccurate or false information on consumer reports, threatening their access to credit, employment and housing. The CFPB alleges that Experian has violated the FCRAs requirements for handling consumer disputes in numerous ways.

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CFPB Consumer Financial Protection Bureau (CFPB) Disputes Consumer 69

PYMNTS

OCTOBER 17, 2016

Circuit decided last week that the CFPB is unconstitutional and has overreached. Circuit ruled that the agency and its director made its findings — and its fines — based on flawed legal judgement, separate and apart from the issue of whether the CFPB is constitutional as currently constituted. The three-judge panel of the D.C.

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CFPB Rules Legal Procedures 62

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. Still, the CFPB noted the new regulation is subject to litigation. Consumer groups have argued the CFPB failed to follow the correct rulemaking procedures.

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CFPB Consumer Financial Protection Bureau (CFPB) Rules Underwriting 56

PYMNTS

JANUARY 24, 2017

House Republicans have spent most of their waking hours not dedicated to hating the ACA on hating the CFPB for the last several years. Of course, depending on what happens with a new report put together by the Republican staffers of the House Financial Services Committee, that end date may be a bit sooner than the CFPB is currently thinking.

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PYMNTS

FEBRUARY 6, 2019

The Consumer Financial Protection Bureau (CFPB) said it will now postpone the rule until Nov. In general, federal procedures that new administrations want to change require new analysis and administrative processes that could take months, and periods for public comment (90 days) to undo.

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CFPB Consumer Financial Protection Bureau (CFPB) Rules Underwriting 54

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. In a press release published Wednesday (Jan.

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

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.

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PYMNTS

NOVEMBER 29, 2018

Kathy Kraninger, President Trump’s pick as the new full-time director of the Consumer Financial Protection Bureau (CFPB), passed an important procedural vote in the Senate on Thursday (Nov. 29), bringing her that much closer to nomination, according to The Washington Post.

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CFPB Consumer Financial Protection Bureau (CFPB) Regulations Procedures 46

PYMNTS

JANUARY 18, 2018

You will see a CFPB that issues rules, takes comments [and] reads the Administrative Procedure Act,” he said. The White House official also said that while the Trump administration isn’t looking to dismantle the Consumer Financial Protection Bureau , it won’t be as partisan under the new head.

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CFPB Procedures Consumer Protection Rules 48

FICO

FEBRUARY 23, 2017

OCC, FDIC, Federal Reserve, CFPB, FHFA and SEC) and report to the President within 120 days the extent to which current laws, regulations and oversight requirements, including those connected with the Dodd-Frank Act, help promote the six core principles. Already, this Executive Order is facing a legal challenge.

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