Open Banking Excellence

JULY 8, 2025

Consumer Financial Protection Bureau (CFPB) had worked to address these regulatory gaps by developing new rules under the Dodd-Frank Act’s Section 1033. However, in mid-2025, the CFPB moved to vacate its own final rule, stating it exceeded its statutory authority. has seen a more fragmented, market-driven evolution. In the U.S.,

Regulations

The Paypers

JUNE 9, 2025

Following this announcement, Trust Payments is expected to leverage Trulioo Workflow Studio, Business Verification, Person Match, Identity Document Verification, and Watchlist Screening in order to unify its onboarding processes, support regulatory compliance, and elevate the customer experience across regions.

Verification

The Payments Association

MARCH 18, 2025

For payments providers, this presents both an opportunity to expand into lending and a threat as new entrants embed credit into the checkout process, disintermediating traditional payment flows. Open banking principles are also embedded in the Unified Payments Interface (UPI), which processed $2.2 reached $1.1

Finance

The Paypers

JUNE 8, 2025

Following this announcement, Zimpler will have the possibility to facilitate payments and other Open Finance ecosystem resources, as well as streamlining the checkout process and reducing friction by allowing direct transactions without redirecting users to bank apps.

Payments Institute

Payments Dive

JULY 15, 2025

Some 70 countries have already adopted the standard that provides operational efficiencies, more data-sharing and less outdated batch-processing.

FedWire

Payments Dive

JUNE 17, 2025

Dive Insight: New York and the CFPB sued MoneyGram over alleged violations of the Remittance Transfer Rule, which the federal agency implemented in October 2013 for remittance transfers. Since 2015, MoneyGram said it has invested about $800 million to improve its system and processes. billion acquisition of MoneyGram.

FedNow

Payments Dive

JUNE 24, 2025

ATM operators, including Just ATMs and Cabe & Cato, that used Visa or Mastercard routing to process transactions were bound by the networks’ access fee rules, according to the complaint. The plaintiffs alleged that the card networks’ contract provisions for access fees – imposed in 1996 – violated U.S. antitrust law.

ATM

Payments Dive

AUGUST 4, 2025

Following Cap One’s completion of its acquisition of Discover in May, that conversion for card holders is happening now, but it will be a gradual process, said Mastercard Chief Financial Officer Sachin Mehra. “We We expect this year the net revenue impact to be minimal to our overall companys net revenues,” Mehra said.

Visa

The Paypers

JUNE 6, 2025

The company will also expand beyond the current Post Office locations, a process which is expected to offer its money transfer services to several locations across the UK.

Posting

Fintech Labs Insights

JANUARY 24, 2025

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Product

Payments Dive

JUNE 17, 2025

Higher prices mean more payments volume, on a dollar basis, and that results in more revenue for New York-based Amex, Chief Financial Officer Christophe Le Caillec explained at the June 11 Morgan Stanley U.S. You can unsubscribe at anytime. Sign up A valid email address is required. Please select at least one newsletter.

FedNow

Payments Dive

JUNE 17, 2025

The RFI process is still ongoing and were one of many vendors being considered,” a Ramp spokeswoman said Tuesday in an email. The Visa and Mastercard-branded cards cover federal staff at about 550 agencies, allowing them to purchase travel, office supplies, gasoline and other work-related expenses. “The You can unsubscribe at anytime.

Privacy

Payments Dive

JUNE 30, 2025

However, the fate of that rule is uncertain amid the CFPB’s dramatic reduction in the size of its workforce and regulatory mission under Acting Director Russell Vought, appointed under the new administration of President Donald Trump. A CFPB spokesperson did not immediately respond to a request for comment about the status of the rule.

Payments

The Paypers

JUNE 6, 2025

This process is projected to be completed by the start of Q4 2025. Citi noted that the cut would not affect its Chinese subsidiary’s banking operations based in Shanghai, or the remaining tech staff based in Guangzhou.

Cross-Border

PYMNTS

DECEMBER 23, 2020

million to the Consumer Financial Protection Bureau ( CFPB ) for violating the Fair Credit Reporting Act (FCRA), the CFPB said in a press release. Santander is an originator and servicer of non-prime auto loans and leases and provides credit information to CRAs via monthly data files, according to the CFPB release.

CFPB

Payments Source

SEPTEMBER 16, 2019

The CFPB’s enforcement action against Maxi suggests that the CFPB may more aggressively enforce certain rules going forward, writes Jeffrey Alberts and Dustin Norfizer of Pryor Cashman.

CFPB

Fintech Finance

JULY 19, 2024

The Consumer Financial Protection Bureau (CFPB) has proposed an interpretive rule explaining that many paycheck advance products, sometimes marketed as “earned wage” products, are consumer loans subject to the Truth in Lending Act. The CFPB also published a report examining employer-sponsored paycheck advance loans.

CFPB

Fintech Finance

MAY 24, 2024

The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers. The CFPB began studying the Buy Now, Pay Later industry in 2021. Today’s action will help bring consistency to this market. Importantly, these cover dispute and refund rights.

Disputes

Global Fintech & Digital Assets

DECEMBER 18, 2023

By Jenny Cieplak , Parag Patel , Barrie VanBrackle , and Deric Behar On November 7, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule, Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications (the Proposal), to supervise large providers of digital wallets and payment apps.

CFPB

The Nilson Report

JUNE 5, 2024

The post CFPB Launches Process to Recognize Open Banking Standards appeared first on Nilson Report.

CFPB

PYMNTS

NOVEMBER 3, 2020

Late last week, the Consumer Financial Protection Bureau (CFPB) said it will look to issue advance notice of proposed rulemaking on “open banking” by the end of this year. In terms of the mechanics of process, the advance notice requests information from stakeholders about how to access financial data — and what data should be accessed.

CFPB

PYMNTS

OCTOBER 18, 2016

That’s according to a new report out from the Consumer Financial Protection Bureau’s (CFPB) Student Loan Ombudsman. The CFPB report looked at 300 companies, including student loan servicers, debt collectors, private student lenders and other organizations between Oct. 1, 2015, and May 31, 2016. “Too

CFPB

Open Banking Excellence

OCTOBER 6, 2023

Your guide to the Consumer Financial Protection Bureau's (CFPB) imminent proposals for a new regulatory framework governing “Personal Financial Data Rights” The US will propose a new “Open Banking Rule” this year which will set the foundations for an ecosystem with the potential to become the largest in the world.

Consumer Financial Protection Bureau (CFPB)

PYMNTS

SEPTEMBER 18, 2019

In a civil investigation that recently came to light, the Consumer Financial Protection Bureau (CFPB) is looking into Bank of America as part of a probe that came out of the phony accounts scandal at Wells Fargo. The investigation surfaced when the CFPB posted documents on the web that covered its wrangling with the firm.

CFPB

PYMNTS

OCTOBER 5, 2016

” CFPB director Richard Cordray noted in remakes released along with the new rules this morning. Cordray further noted that the CFPB’s new rules are the first set of such robust rule making at the federal level. ” They also requested the CFPB “tread lightly” in regulating them. ” The Expected Stuff .

CFPB

PYMNTS

OCTOBER 12, 2016

According to the report , the CFPB also said Navy Federal Credit Union “unfairly” restricted access when customers had delinquent loans. We have cooperated with the CFPB throughout the process,” the credit union said in a statement to Reuters. The CFPB contend the letters were sent out starting in Jan.

Credit Union

PYMNTS

APRIL 25, 2019

The Consumer Financial Protection Bureau (CFPB) announced Thursday (April 25) that it has issued a request for information on its remittance rule, which had faced calls by the Credit Union National Association for revision. The exception expires on July 21, 2020, unless Congress acts to extend it.

CFPB

Payments Dive

JUNE 7, 2024

The bureau will consult public interest groups and app developers on open banking standards, and no single special interest can dominate the standards-making process.

CFPB

PYMNTS

MAY 8, 2017

Things are getting tougher for the Consumer Financial Protection Bureau (CFPB) under the new political administration. More banks are now willing to challenge CFPB enforcement actions, said The Wall Street Journal. This already exceeds the total number of challenges the CFPB saw across 2016. The controversial U.S.

CFPB

PYMNTS

SEPTEMBER 16, 2016

With ambition aplenty, the CFPB has been setting sights on examining the efficacy of regulations (and proposing new ones) on any number of industries and lending, from autos to payday loans to mortgages. One salvo that can help determine the ultimate path for the CFPB is slated to come next week, as a U.S.

CFPB

PYMNTS

AUGUST 20, 2020

The Consumer Finance Protection Bureau (CFPB) has settled with TD Bank in a case involving illegal overdraft practices, according to a court document. The bank will have to pay $122 million total to settle the case, including $97 million to customers affected and $25 million to the CFPB.

CFPB

PYMNTS

DECEMBER 3, 2019

3), the Consumer Financial Protection Bureau (CFPB) has proposed to boost the number of smaller banks and credit unions (CUs) that would not be governed by rules tied to international money transfers. The December proposal comes in the wake of an April request for feedback on the international remittance process.

CFPB

Payments Dive

OCTOBER 30, 2024

Bank of America is responding to a Consumer Financial Protection Bureau inquiry related to the bank’s processing of electronic payments through Zelle, the lender disclosed in a regulatory filing.

Zelle

Payments Source

MARCH 8, 2021

For too long, the Consumer Financial Protection Bureau's rulemaking process has been informed by its director's political affiliation. The next leader must keep the agency focused on its mission: protecting consumers.

CFPB

PYMNTS

DECEMBER 12, 2019

In the lawsuit, filed in in the United States District Court for the District of Columbia, PayPal said the CFPB rule that requires disclosure for digital wallets and prepaid debit cards places “unreasonable restrictions” on consumers’ abilities to link certain credit products to PayPal accounts.

CFPB

PYMNTS

JUNE 7, 2016

The Consumer Financial Protection Bureau (CFPB) announced on Monday (June 6) that it filed a lawsuit against Intercept Corporation and two of its executives, Bryan Smith and Craig Dresser, for the alleged illegal acts. Intercept skipped among eight different banks between 2008 and 2014.”.

CFPB

PYMNTS

MAY 30, 2018

The Consumer Financial Protection Bureau (CFPB) has announced that it is working with the Commodity Futures Trading Commission to develop a regulatory sandbox for FinTech firms. “We While the Dodd-Frank Act allows the CFPB to implement ways to foster innovation, the agency’s efforts have largely been seen as inadequate.

CFPB