Spurred in part by the pandemic, regulators and legislators have been increasingly focused on the accessibility and transparency of loans to small-to-medium businesses. On the federal level, the CFPB is considering a rule...more
5/9/2022
/ Biden Administration ,
Commercial Loans ,
Disclosure Requirements ,
Finance Lender ,
NMLS ,
Proposed Rules ,
Registration Requirement ,
Reporting Requirements ,
Small Business ,
State and Local Government ,
Transaction Fees
In December 2019, PayPal, Inc. filed suit in the US District Court for the District of Columbia challenging the CFPB’s authority to issue two provisions of the so-called prepaid rule, which governs consumer financial products...more
5/9/2022
/ Chevron Deference ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Wallets ,
Disclosure Requirements ,
Dodd-Frank ,
ECOA ,
EFTA ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Lack of Authority ,
PayPal ,
Prepaid Payment Products ,
Truth in Lending Act (TILA)
Earlier this week, the Consumer Financial Protection Bureau (CFPB) announced that it is working on potential new consumer disclosure requirements for prepaid cards to standardize fee disclosures. The new disclosure...more