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Affirm delves into in-game payments

Payments Dive

The Consumer Financial Protection Bureau in January proposed an interpretive rule that would require video game companies to comply with the Electronic Fund Transfer Act. A CFPB spokesperson did not immediately respond to a request for comment about the status of the rule.

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American Fintech Council (AFC) Responds to Consumer Financial Protection Bureau (CFPB) Interpretive Rule on Buy Now Pay Later

Fintech Finance

We are encouraged by the work the CFPB has done to better understand the BNPL industry. In their letter, AFC applauded the CFPB for their 2022 report on BNPL and for their continued engagement with industry leaders. Moloney, SVP, Head of Policy and Regulatory Affairs, wrote in AFC’s recent letter to the CFPB Read the full letter here.

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American Fintech Council responds to CFPB buy now, pay later rules

Finextra

The American Fintech Council (AFC), the fastest growing premier industry association representing responsible fintech companies and innovative banks, submitted its response to the Consumer Financial Protection Bureau (CFPB) on the proposed Interpretive Rule and Request for Comment on the Use of Digital User Accounts to Access Buy Now, Pay Later Loans. (..)

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AFC Praises New BNPL Recommendations, But Warns That Providers Need ‘Additional Time’ to Comply

The Fintech Times

The new proposed interpretive rule would ensure that nonbank financial companies adhere to the same credit card lending rules as large banks, credit unions, and other financial institutions already supervised by the CFPB. “We are encouraged by the work the CFPB has done to better understand the BNPL industry. .

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Heavy-handed Digital Regulation Could Hinder US Startup Development Warns CCIA

The Fintech Times

The Computer & Communications Industry Association (CCIA) has responded to the Consumer Financial Protection Bureu ‘s request for comments on a proposal to define and regulate larger participants in the general-use digital consumer payment marketplace.

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Treasury Pushback On Financial Regulation?

PYMNTS

As reported in various publications, the report, which clocks in at just about 150 pages, has, as Fortune noted, more than 100 rule changes. Perhaps the most visible rollback would come with a truncating of the Consumer Financial Protection Bureau (CFPB)’s regulatory powers.