Tag: Consumer Financial Protection Bureau
US open banking faces setback with CFPB repeal
The US Consumer Financial Protection Bureau (CFPB) has confirmed it intends to rescind the 1033 open banking rule in a new legal filing First published...
Reports surface of FDIC drastically cutting US workforce
The Federal Deposit Insurance Corporation (FDIC) has reportedly told staff it plans to cut its workforce by around 20%.Reuters reported that it saw the...
CFPB to reverse BNPL classification after legal challenge
The Consumer Financial Protection Bureau (CFPB) is reportedly planning to drop its controversial rule on buy now, pay later (BNPL) companies.Last year, the US...
CFPB seeks feedback on data privacy before potential Trump overhaul
The Consumer Financial Protection Bureau (CFPB) has invited public input on financial surveillance concerns involving big tech and mechanisms like stablecoins.In detail, the CFPB...
FDX gains approval to Set US Open Banking standards
The Consumer Financial Protection Bureau (CFPB) has officially recognised Financial Data Exchange (FDX) as a standard-setting body under its Personal Financial Data Rights rule. This...
PayPal and other apps to face tighter CFPB regulations
The Consumer Financial Protection Bureau (CFPB) has expanded its oversight to include major nonbank digital transfer and payment app companies.This move marks the CFPB's...
CFPB fines VyStar Credit Union $1.5m for service failures
The Consumer Financial Protection Bureau (CFPB) has fined VyStar Credit Union $1.5m for preventing consumers from accessing their funds and accounts.The CFPB took action...
Apple and Goldman Sachs fined $89m for misleading consumers
The Consumer Financial Protection Bureau (CFPB) has fined Apple and Goldman Sachs $89m for misleading customers and customer service breakdowns.Following an investigation, the CFPB...
US BNPL regulation debate intensifies with trade body lawsuit
The Financial Technology Association (FTA) is pushing back against new US regulations on "pay-in-four" buy now, pay later (BNPL) products.In its lawsuit, the fintech...
Vixio: How Open Banking is reshaping the financial industry
Vixio, a regulatory intelligence provider, has published a report on Open Banking to offer insights into current trends and future opportunities.The report, titled 2024...
