In carrying out its statutory mandate, the CFPB has released a Request for Information (RFI) relating to the CARD Act, seeking information on two fronts.
What happened -
The Consumer Financial Protection Bureau (the CFPB...more
PayPal, Inc., filed suit against the Consumer Financial Protection Bureau (CFPB) recently, challenging the Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z)...more
Joining the innovation trend, the New York Department of Financial Services (DFS) announced the creation of a new Research and Innovation Division.
The new division will support internal transformation and market...more
There’s yet another state CFPB, and this one could be significant. Joining Pennsylvania’s earlier effort, the New York Department of Financial Services (DFS) has just created a new office, the Consumer Protection and...more
In a big week for the Consumer Financial Protection Bureau (CFPB or Bureau), it recently issued its proposed debt collection rules plus updates to the Prepaid Small Entity Compliance Guide, a notice of proposed rulemaking...more
As the President nominates the virtually unknown Kathy Kraninger as Director, the Acting Director gets a reprieve while taking a wrecking ball to the status quo at the agency formerly known as the CFPB....more
As the Consumer Financial Protection Bureau (CFPB or Bureau) withdraws from enforcement, activity continues in the courts and with certain other regulators. In Texas, a federal court denied a stay of the looming compliance...more
Mick Mulvaney’s CFPB has now issued final changes to its Prepaid Rule, and the payments industry receives a huge reprieve from some of the more draconian elements of the original rule as issued in 2016....more
As required by law, the Consumer Financial Protection Bureau (CFPB) has once again asked for public comment on a variety of topics related to the credit card market. The comment period has ended for the most recent request...more
The Consumer Financial Protection Bureau (CFPB) has requested comment on proposed changes to its prepaid rule, including the potential for another extension of the effective date of the rule. The proposed rule changes are...more
Deferred interest promotions should be more transparent, the Consumer Financial Protection Bureau told retail credit card companies in letters encouraging recipients to be more open with consumers....more