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Reg E Refresher: Stay Compliant and Out of the Spotlight

Innovative Payments Association

Session 1: IPA Compliance Boot Camp ​Reg E, which governs electronic fund transfers and consumer protections under the Electronic Fund Transfer Act, remains a cornerstone of compliance in the payments industry. Why Reg E Matters Now Despite the change in regulatory leadership, Regulation E remains a key area of focus.

Reg E 40
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Reg E in Focus: CFPB Enforcement and Compliance Tips

Innovative Payments Association

The Consumer Financial Protection Bureau (CFPB) is the primary enforcement agency for Regulation E, and it has been cracking down on violations in recent years. In some cases, companies have been ordered to pay restitution to affected consumers and civil penalties to the CFPB.

Reg E 52
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CFPB, USAA Settle After Violations

PYMNTS

The Consumer Financial Protection Bureau (CFPB) announced on Thursday (Jan. It also failed to start and complete reasonable error resolution investigations, the Bureau said. million in civil money penalty. million in civil money penalty.

CFPB 51
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CFPB Pushes Prepaid Card Rule Implementation Back A Year

PYMNTS

The Consumer Financial Protection Bureau (CFPB) has extended the effective date on its 2016 prepaid card rule, among other modifications announced today (Jan. The changes, according to the release, will also reduce “potentially unnecessary complications and expense to consumers who link credit cards to digital wallets.”.

CFPB 52
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OCC Issues Policy Guidance on Buy Now, Pay Later Lending

Global Fintech & Digital Assets

These consumer lending arrangements (also known as “point-of-sale installment loans” or “pay-in-4”) involve short-term installment loans repayable in four or fewer payments and carry no finance or interest charges. BNPL Loans As described in the Guidance, a BNPL arrangement generally involves a bank, a merchant, and a consumer.

OCC 59
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5 Benefits of ACH Payments Over Check Payments

Stax

The average consumer commonly uses the ACH network for automated bill payments and larger transactions. ACH payments are more straightforward than how credit card processing works, both on the consumer-facing and business end. Regulation E also provides consumers with dispute and error resolution rights.

ACH 88
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FICO Fights Prepaid Card Fraud with AI and Machine Learning

FICO

Starting in April 2019, prepaid debit card users have been better protected thanks to a ruling by the Consumer Financial Protection Bureau. For other types of cards, issuers must reimburse users for all fraudulent transactions over $50 (withdrawals or purchases) made while their card was lost or stolen.

AI 52