Consumer and Consumer Financial Protection Bureau (CFPB)

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

Fintech Finance

JULY 15, 2024

Regulatory clarity and consistent standards are critical for providers offering safe, transparent and responsible financial services and even more important for consumers who expect protections when utilizing financial services including Buy Now Pay Later,” said Phil Goldfeder, Chief Executive Officer of AFC.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Rules BNPL

CFPB fines fintech Wise, alleging it charged deceptive fees

TechCrunch Fintech

JANUARY 31, 2025

The Consumer Financial Protection Bureau (CFPB) has hit UK-based remittance company Wise with about a $2 million fine for what it described as a series of illegal actions. Those actions include advertising inaccurate fees and failing to properly disclose exchange rates and other costs, the CFPB alleges.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB FinTech Consumer

Plaid’s $575 Million Round Signals Strength Despite Valuation Drop and Delayed IPO

Finovate

APRIL 3, 2025

Plaid’s delayed IPO likely reflects US open banking uncertainty, as the CFPB finalizes its data access rule. Waiting for regulatory clarity and consumer awareness could position Plaid for a stronger public debut down the road. The funding will support employee restricted stock units tax obligations and provide internal liquidity.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Rules Consumer

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Google Hits Back at US Regulator Over Payment Arm Supervision

The Fintech Times

DECEMBER 9, 2024

Google has filed a legal challenge against the US Consumer Financial Protection Bureau (CFPB), the agency responsible for overseeing consumer finance, after it placed Google Payment Corp., the companys payment arm, under federal supervision.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Regulations Legal

CFPB Slaps Equifax With $15Million Fine for Mishandling Consumer Credit Disputes

The Fintech Times

JANUARY 21, 2025

The Consumer Financial Protection Bureau (CFPB), the consumer protection agency in the US, has hit Equifax with a $15million fine, after it found that the nationwide consumer reporting agency failed to conduct proper investigations of consumer disputes.

Disputes

Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer

CFPB Approves FDX as First Standard-Setting Body for Open Banking

The Fintech Times

JANUARY 11, 2025

The Consumer Financial Protection Bureau (CFPB) has approved the Financial Data Exchange (FDX) as the first standard-setting body in an important step towards implementing open banking in the US. These standards can help companies to comply with the CFPB’s new open banking rules.

CFPB

CFPB Consumer Financial Protection Bureau (CFPB) Card Issuer Rules

CFPB withdraws Toyota and Walmart cases

The Paypers

MAY 14, 2025

The US Consumer Financial Protection Bureau (CFPB) has dropped a 2023 settlement with Toyota’s financing arm, as well as its lawsuit against Walmart and workforce payments firm Branch.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Settlement Finance

CFPB charges Navy Federal Credit Union $95 million for overdraft and junk fees

Finextra

NOVEMBER 8, 2024

The Consumer Financial Protection Bureau (CFPB) has charged the US’s largest credit union for illegally charging users overdraft fees.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) Credit Union Junk Fees CFPB

CFPB and American Fintech Council stake out AI positions to Treasury

Finextra

AUGUST 14, 2024

Responding to a call from the US Treasury, the Consumer Financial Protection Bureau (CFPB) and the American Fintech Council (AFC) have both weighed in on the use of AI in financial services.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Treasury AI

CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations

PYMNTS

DECEMBER 23, 2020

Santander Consumer USA was ordered to pay $4.7 million to the Consumer Financial Protection Bureau ( CFPB ) for violating the Fair Credit Reporting Act (FCRA), the CFPB said in a press release. During that time frame, Santander reportedly sent incorrect information on millions of accounts to the CRAs.

CFPB

CFPB Consumer Financial Protection Bureau (CFPB) Non-Bank Origination

CFPB says startups and consumers must have say in open banking standard setting

Finextra

JUNE 5, 2024

The Consumer Financial Protection Bureau (CFPB) has taken another step designed to promote open banking in the US, finalising a rule for recognising data sharing standards and preventing incumbents from "squelching" startups.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Consumer Rules

CFPB expands oversight of Big Tech payment apps

Finextra

NOVEMBER 21, 2024

The Consumer Financial Protection Bureau (CFPB) has finalised a rule that will see it supervise tech giants such as Apple and Google that offer digital payment apps and wallets.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Rules Payments

When Will The US Open Banking Rule Come Into Force?

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)

Consumer Financial Protection Bureau (CFPB) Rules CFPB Finance

JPMorgan ponders legal action over Zelle probe

Finextra

AUGUST 5, 2024

JPMorgan Chase is considering taking legal action against the Consumer Financial Protection Bureau (CFPB) over an ongoing probe into the abuse of Zelle payments by scammers.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) Zelle Legal CFPB

Wise Fined US$2.5M by US Regulators for Misleading Customers

Fintech News

FEBRUARY 2, 2025

On January 30, the US Consumer Financial Protection Bureau (CFPB) imposed a US$2 million civil penalty on Wise, alongside $450,000 in customer compensation, for inaccurately advertising its fees and failing to adequately disclose exchange rates and other charges. Wise has been ordered to pay nearly US$2.5

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) Regulations CFPB Cross-Border Payments

CFPB sues Experian over "sham investigations" into consumer disputes

Finextra

JANUARY 8, 2025

The Consumer Financial Protection Bureau (CFPB) has sued credit reporting agency Experian for unlawfully failing to properly investigate consumer disputes and showing uncritical deferrence to institutional submissions.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) Disputes CFPB Consumer

Consumers Paid $34.3B In Overdraft Fees In 2017

PYMNTS

MARCH 29, 2018

Consumers paid $34.3 Despite the increase, consumers aren’t, in fact, overdrawing their accounts. Even so, consumers must opt in to be able to overdraft. consumers in 2016, according to a report from the Consumer Financial Protection Bureau (CFPB) on the impact of bouncing checks in American finance.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Credit Union Consumer

CFPB Tapped To Help Distribute COVID-19 Payments

PYMNTS

APRIL 13, 2020

The Consumer Financial Protection Bureau (CFPB) has made it easier for people to access stimulus CARES Act funds by removing some of the legal barriers barring banks from issuing the payments through prepaid accounts, according to a press release.

Electronic Fund Transfer Act (EFTA)

Electronic Fund Transfer Act (EFTA) CFPB Consumer Financial Protection Bureau (CFPB) Direct Deposit

CFPB moves to ban medical bills from credit reports

Finextra

JUNE 13, 2024

The Consumer Financial Protection Bureau (CFPB) has set out plans to remove medical bills from most credit reports

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Consumer

Get ready for a U.S. open banking rule: protecting personal financial data rights

Axway

NOVEMBER 22, 2022

Consumer Financial Protection Bureau (CFPB) has just announced the coming of a new U.S. The aim is to solidify personal financial data … The director of the?Consumer open banking rule , accelerating the move toward open banking in North America.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) Rules CFPB Consumer

CFPB Settles Student Loan Case With Discover For $35 Million

PYMNTS

DECEMBER 23, 2020

The Consumer Financial Protection Bureau (CFPB) has settled with student loan servicers Discover Bank , The Student Loan Corporation and Discover Products (collectively Discover) in a 2015 case for unlawful practices, and Discover will have to pay $10 million in customer redress, a press release says.

CFPB

CFPB Consumer Financial Protection Bureau (CFPB) Government Governance

2025 Industry Outlook and New Regulatory Shifts: How IPA is Shaping the Future of Payments

Innovative Payments Association

JANUARY 14, 2025

The recent Republican sweep of the White House and Congress has sparked debates about deregulation and reshaping financial oversight. For example, while the CFPB mandates data sharing between financial institutions and fintechs, it also warns consumers to approach fintech products with caution.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB FDIC Consumer Protection

CFPB sues Capital One for cheating consumers out of more than $2 billion in interest payments

Finextra

JANUARY 14, 2025

Today, the Consumer Financial Protection Bureau (CFPB) sued Capital One, N.A., and its parent holding company, Capital One Financial Corp., for cheating millions of consumers out of more than $2 billion in interest.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Consumer Payments

CFPB research reveals heavy BNPL usage among consumers with high credit sccores and multiple loans

Finextra

JANUARY 14, 2025

Today, the Consumer Financial Protection Bureau (CFPB) released a study of Buy Now, Pay Later (BNPL) borrowers, finding that more than one-fifth of consumers with a credit record used BNPL loans in 2022, with most of those consumers having subprime or deep subprime credit scores.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) BNPL CFPB Consumer

CFPB reduces Wise fine

Finextra

MAY 16, 2025

The Consumer Financial Protection Bureau (CFPB) today amended its January 30, 2025 consent order with the international remittance company Wise resolving claims including advertising inaccurate fees and failing to properly disclose exchange rates and other costs.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Consumer

CFPB fines Wise $2.5m

Finextra

JANUARY 30, 2025

million penalty from the Consumer Financial Protection Bureau (CFPB) for misleading customers about fees and charges. Money transfer platform Wise has been hit with a $2.5

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Consumer

CFPB Takes Action to Ensure Consumers Can Dispute Charges and Obtain Refunds on Buy Now, Pay Later Loans

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. Accordingly, Buy Now, Pay Later lenders must provide consumers some key legal protections and rights that apply to conventional credit cards.

Disputes

Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer

CFPB establishes rules for standard-setting bodies

The Paypers

JUNE 10, 2024

The Consumer Financial Protection Bureau ( CFPB ) has finalised a rule detailing the requirements for becoming a recognised industry standard-setting body.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Rules Consumer

US Supreme Court sides with CFPB funding

Finextra

MAY 17, 2024

The US Supreme Court has rejected an attempt to undercut the funding of the Consumer Financial Protection Bureau (CFPB).

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Consumer

US Chamber of Commerce files suit against CFPB over late card fees

Finextra

MARCH 12, 2024

The US Chamber of Commerce has filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) to stop it from implementing a rule to limit late credit card fees.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Credit Cards Rules

CFPB Consumer Complaints Up 50 Pct During Pandemic

PYMNTS

JULY 20, 2020

The Consumer Financial Protection Bureau (CFPB) has recorded record-high numbers of complaints every month since the pandemic hit in mid-March, according to a press release from the U.S. PIRG Education Fund’s consumer campaign director, according to the release. PIRG Education Fund.

CFPB

CFPB Consumer Financial Protection Bureau (CFPB) Consumer Identity Theft

CFPB takes on non-sufficient fund fees

Finextra

JANUARY 24, 2024

America's Consumer Financial Protection Bureau (CFPB) has proposed a rule that would stop banks charging non-sufficient fund fees for transactions that are declined in real time.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Non-Bank Rules

CFPB Debuts Consumer Credit Card Risk Management Tool

PYMNTS

DECEMBER 16, 2016

The Consumer Financial Protection Bureau (CFPB) announced Thursday (Dec. 15) the launch of Consumer Credit Trends, a web-based tool to help consumers monitor developments in consumer lending and to ascertain potential future risks.

CFPB

CFPB Credit Cards Consumer Financial Protection Bureau (CFPB) Risk Management

CFPB orders Equifax to pay $15 million penalty for improper investigation of credit reporting errors

Finextra

JANUARY 20, 2025

Today, the Consumer Financial Protection Bureau (CFPB) took action against Equifax, the nationwide consumer reporting agency, for its failure to conduct proper investigations of consumer disputes.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Disputes Consumer

Consumer Financial Protection Bureau Seeks Advice On Financial Data Access

PYMNTS

JULY 26, 2020

The nation’s consumer protection agency is seeking input on rule changes to third-party access to individual financial records. Its purpose was to review the agency’s handling of authorized third-party access to consumer’s financial data. Congress created the legislation in 2010 that created the CFPB.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Consumer Privacy

Today In Payments: Ant Financial Rolls Out Alipay Strategy; Retail Stocks Remain Market Bright Spot

PYMNTS

MARCH 10, 2020

In today’s top payment news, retail remains a bright spot in the markets, Ant Financial has rolled out a strategy for digital evolution in China, and the Consumer Financial Protection Bureau (CFPB) filed a suit against a Cincinnati-based bank. Fifth Third Bank Sued By CFPB Over Fake Accounts.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Contactless Payments Online and Mobile Banking

Bringing open banking to North America in 2023

Axway

JANUARY 26, 2023

A recent announcement from Director Chopra of the Consumer Financial Protection Bureau (CFPB) openly declares the coming of a U.S. open banking rule, representing a significant shift in the financial services landscape. The announcement recognizes the importance of common standards …

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Rules Consumer

CFPB orders Wise to pay over $2m

Finextra

JANUARY 30, 2025

million penalty from the Consumer Financial Protection Bureau (CFPB) for misleading customers about fees and charges. Money transfer platform Wise has been hit with a $2.5

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Consumer

Climb Credit sued by CFPB for “false promises and outright lies”

Finextra

OCTOBER 18, 2024

The Consumer Financial Protection Bureau (CFPB) has announced its suit against Climb Credit and its largest shareholder 1/0 for misrepresenting the quality of its training programmes at partner schools.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Consumer

Coinbase Struggles Lead To Mounting Consumer Complaints

PYMNTS

FEBRUARY 19, 2018

Consumer Financial Protection Bureau (CFPB), as evidenced by the government watchdog’s website. Bloomberg reported Monday (Feb. 19) that Coinbase, among the most visible of cryptocurrency exchanges, has been seeing a surge in customer complaints filed with the U.S.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) Consumer Cryptocurrency CFPB

US agencies provide advice for combatting elder financial exploitation

Finextra

DECEMBER 4, 2024

The Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Financial Crimes Enforcement Network (FinCEN), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), and state financial regulators issued a joint statement this (..)

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency FRB NCUA

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

Finextra

JULY 15, 2024

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. (..)

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Rules Request for Comment

CFPB releases comment on AI in the financial sector

The Paypers

AUGUST 19, 2024

The Consumer Financial Protection Bureau (CFPB) has released a comment regarding the uses, capabilities, and risks associated with artificial intelligence (AI) in the financial services industry.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB AI Risk

CFPB sues online lender SoLo Funds for deceiving borrowers

Finextra

MAY 22, 2024

The Consumer Financial Protection Bureau (CFPB) today sued the online lending platform SoLo Funds for deceiving borrowers about the total cost of loans.

Consumer Financial Protection Bureau (CFPB)

Consumer Financial Protection Bureau (CFPB) CFPB Consumer

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

CFPB fines fintech Wise, alleging it charged deceptive fees

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Plaid’s $575 Million Round Signals Strength Despite Valuation Drop and Delayed IPO

Webinars

Google Hits Back at US Regulator Over Payment Arm Supervision

CFPB Slaps Equifax With $15Million Fine for Mishandling Consumer Credit Disputes

CFPB Approves FDX as First Standard-Setting Body for Open Banking

CFPB withdraws Toyota and Walmart cases

CFPB charges Navy Federal Credit Union $95 million for overdraft and junk fees

CFPB and American Fintech Council stake out AI positions to Treasury

CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations

CFPB says startups and consumers must have say in open banking standard setting

CFPB expands oversight of Big Tech payment apps

When Will The US Open Banking Rule Come Into Force?

JPMorgan ponders legal action over Zelle probe

Wise Fined US$2.5M by US Regulators for Misleading Customers

CFPB sues Experian over "sham investigations" into consumer disputes

Consumers Paid $34.3B In Overdraft Fees In 2017

CFPB Tapped To Help Distribute COVID-19 Payments

CFPB moves to ban medical bills from credit reports

Get ready for a U.S. open banking rule: protecting personal financial data rights

CFPB Settles Student Loan Case With Discover For $35 Million

2025 Industry Outlook and New Regulatory Shifts: How IPA is Shaping the Future of Payments

CFPB sues Capital One for cheating consumers out of more than $2 billion in interest payments

CFPB research reveals heavy BNPL usage among consumers with high credit sccores and multiple loans

CFPB reduces Wise fine

CFPB fines Wise $2.5m

CFPB Takes Action to Ensure Consumers Can Dispute Charges and Obtain Refunds on Buy Now, Pay Later Loans

CFPB establishes rules for standard-setting bodies

US Supreme Court sides with CFPB funding

US Chamber of Commerce files suit against CFPB over late card fees

CFPB Consumer Complaints Up 50 Pct During Pandemic

CFPB takes on non-sufficient fund fees

CFPB Debuts Consumer Credit Card Risk Management Tool

CFPB orders Equifax to pay $15 million penalty for improper investigation of credit reporting errors

Consumer Financial Protection Bureau Seeks Advice On Financial Data Access

Today In Payments: Ant Financial Rolls Out Alipay Strategy; Retail Stocks Remain Market Bright Spot

Bringing open banking to North America in 2023

CFPB orders Wise to pay over $2m

Climb Credit sued by CFPB for “false promises and outright lies”

Coinbase Struggles Lead To Mounting Consumer Complaints

US agencies provide advice for combatting elder financial exploitation

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

CFPB releases comment on AI in the financial sector

CFPB sues online lender SoLo Funds for deceiving borrowers

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