CFPB

CFPB Wants to Set the Rules for How Banks Use AI
CFPB Wants to Set the Rules for How Banks Use AI
August 13, 2024  |  artificial intelligence

The Consumer Financial Protection Bureau (CFPB) has staked out a clear position on using artificial intelligence (AI) in financial services: There are no exceptions to...

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CFPB: Credit Repair Cloud Let Companies Collect Illegal Fees
CFPB: Credit Repair Cloud Let Companies Collect Illegal Fees
August 08, 2024  |  CFPB

Since 2013, Credit Repair Cloud has sold software and products to credit repair businesses. But according to the Consumer Financial Protection Bureau (CFPB), the company and its CEO also...

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CFPB to Crack Down on ‘Predatory’ Lending in Solar Industry
CFPB to Crack Down on ‘Predatory’ Lending in Solar Industry
August 07, 2024  |  Regulation

The Consumer Financial Protection Bureau (CFPB) released an issue spotlight and a consumer advisory about “predatory” lending related to solar panel installations and said it...

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Report: CFPB Probe of Zelle Expected to Include BofA and Wells Fargo
Report: CFPB Probe of Zelle Expected to Include BofA and Wells Fargo
August 07, 2024  |  Fraud Prevention

The Consumer Financial Protection Bureau (CFPB) is reportedly looking into how some of the biggest U.S. banks handle complaints from customers who dispute transactions made through Zelle. JPMorgan...

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Standards May Pose a Challenge as Regulators Seek Data Interoperability
Standards May Pose a Challenge as Regulators Seek Data Interoperability
August 06, 2024  |  Regulation

Thousands of data fields, thousands of financial firms, nine regulatory agencies … the push toward a common thread of communications across financial services would be,...

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JPMorgan Chase Evaluates Legal Options as CFPB Scrutinizes Zelle Payments
JPMorgan Chase Evaluates Legal Options as CFPB Scrutinizes Zelle Payments
August 04, 2024  |  Security & Fraud

JPMorgan Chase could be headed for a dust-up with the Consumer Financial Protection Bureau. In its “Consolidated Financial Statements” for the six months ending June...

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Federal Financial Regulatory Agencies Propose Joint Data Standards
Federal Financial Regulatory Agencies Propose Joint Data Standards
August 02, 2024  |  Bank Regulation

Nine federal financial regulatory agencies have proposed or will propose joint data standards that would apply to data submitted to the agencies. As required by...

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Paycheck-to-Paycheck Consumers More Than Twice as Likely to Use BNPL
Paycheck-to-Paycheck Consumers More Than Twice as Likely to Use BNPL
August 02, 2024  |  Buy Now Pay Later

As shoppers look for financial tools to help them manage their budgets, those who are struggling to make ends meet are more likely to adopt...

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BNPL Firms’ New Regulatory Reality Unclear as CFPB’s Commentary Period Closes
BNPL Firms’ New Regulatory Reality Unclear as CFPB’s Commentary Period Closes
August 01, 2024  |  BNPL

The comments are in. The battle lines have been drawn. As the regulatory landscape shifts for buy now, pay later (BNPL) providers, a few key questions...

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