The Consumer Finance Protection Bureau suffered a major blow in Federal Appeals Court yesterday when a three judge panel ruled that parts of its leadership structure are unconstitutional. This decision was taken as part of mortgage lender’s PHH Corp. appeal of the 2014 $109M financial penalty imposed by the CFPB....
The regulatory and compliance space is changing. Not only are companies looking for more efficiencies and cost savings in their processes, but the pressure to perform under increased scrutiny is also increasing. Which is why Stephen Ufford, CEO and founder of Trulioo, believes now is...
As the specifics of the CFPB’s pre-paid card rule are making their way through the ecosystem, the players are starting to come out with their takes on the newest set of financial regulations. Get the Full Story Complete the form to unlock this article and...
A little over five years in, the CFPB has collected over 670,000 consumer complaints about just about any financial services-related topic there is. Beyond those raw numbers, though, what do all those complaints in the database really mean? PYMNTS/What’s Next In Data Analytics Collaboration took...
The use of prepaid cards has exploded over the last decade or so — in 2003 consumers put less than $1 billion on prepaid cards annually, but by 2012 that figure had grown to $65 billion and by 2018 that figure is projected to reach as...
Recent rulings from the United States Court of Appeals have shined a bright spotlight on antitrust concerns. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our...
In a rare moment of bi-partisan agreement, House members sent the CFPB a letter last week to explicitly request the agency rethink some of its proposals to rein in payday lenders (and other providers of short terms loan offerings) as they fear the net result...
The Electronic Payments Coalition is unimpressed with the Durbin Amendment and wants it nixed. The coalition claims the amendment has allowed big-box retailers to pad their bottom lines to the detriment of smaller competitors, community banks and credit unions.
Consumers will save, if you incentivize them to save. That’s according to a new report from the Consumer Financial Protection Bureau. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
