New rules released by the Consumer Financial Protection Bureau on Thursday will change small business lending. And for the lenders — banks and non-banks — there’s a change ahead, too, in the broadening of the data they’ll need to collect as they decide who gets...
The White House plans to call for tougher regulation of midsize banks. The recommendations for congressional action could be announced within days and would follow the recent collapses of Silicon Valley Bank and Signature Bank, The Wall Street Journal (WSJ) reported Wednesday (March 29), citing...
In a policy letter that read like part announcement and part warning, the Consumer Financial Protection Bureau (CFPB) put FinTechs on notice in April, with CFPB Director Rohit Chopra saying a little-used provision of the Dodd-Frank Act is now being employed to scrutinize nonbanks more...
Open banking will usher in a new age of data portability but gives rise to a burning question: Who is ultimately responsible for that data? MX Chief Advocacy Officer Jane Barratt told Karen Webster the answer would be crafted by frameworks that involve discussions and input...
August 16, 2022
In a policy letter that read like part announcement and part warning, the Consumer Financial Protection Bureau (CFPB) put FinTechs on notice in April, with CFPB Director Rohit Chopra saying a little-used provision of the Dodd-Frank Act is now being employed to scrutinize nonbanks more tightly. “Given the rapid growth of consumer offerings by nonbanks, […]
August 05, 2021
Open banking will usher in a new age of data portability but gives rise to a burning question: Who is ultimately responsible for that data? MX Chief Advocacy Officer Jane Barratt...
July 23, 2021
In financial services, the push for data portability is nothing new. Glenn Geil, senior vice president and head of payments for the Americas at Endava, told Karen Webster in an...
July 17, 2017
The CFPB opens the door to class action suits, and possibly trial lawyer riches, while across the pond, some warnings on regulatory compliance rumble, and Barclays begins ring-fencing efforts.
March 29, 2023
The White House plans to call for tougher regulation of midsize banks. The recommendations for congressional action could be announced within days and would follow the recent collapses of Silicon Valley Bank and Signature Bank, The Wall Street Journal (WSJ) reported Wednesday (March 29), citing unnamed sources. President Joe Biden has already called for laws […]
July 26, 2020
The nation’s consumer protection agency is seeking input on rule changes to third-party access to individual financial records. The announcement by the Consumer Financial Protection Bureau (CFPB) comes on the...
April 09, 2019
In what may be a rollback of at least some banking regulations put in place in the wake of the financial crisis a decade ago, the Federal Reserve Monday offered...
October 25, 2018
The U.S. Federal Reserve will consider some deregulation for all but the nation’s largest banks at a board meeting at the end of this month. According to Reuters, the central...
