The Financial Technology Association (FTA) has filed a lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB) final interpretive rule on pay-in-four buy now, pay later (BNPL) products, saying the rule “oversteps legal bounds.” The CFPB ruled May 22 that BNPL vendors are credit card providers...
Gone are the days when financially constrained employees had to wait for the conventional two-week pay cycle to receive their wages. Nowadays, earned wage access (EWA), also referred to as early, instant, or on-demand pay, is rapidly gaining popularity, granting employees access to their earned wages before their...
A new trade group formed by FinTech leaders called the Financial Technology Association (FTA) launched Wednesday (March 10), according to a press release. Afterpay is a founding member alongside Betterment, Brex, Carta, Figure, Marqeta, Quadpay, Plaid, Ribbit Capital, Wise and Zest AI, the release noted....
October 21, 2024
The suit filed last week seeking to stop a new rule from the Consumer Financial Protection Bureau (CFPB) governing buy now, pay later (BNPL) loans has a number of what, to some observers, might be argued as technicalities. But a deeper dive into the suit also finds that the challenge presented by the Financial Technology […]
October 20, 2024
The Financial Technology Association (FTA) has filed a lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB) final interpretive rule on pay-in-four buy now, pay later (BNPL) products, saying the rule “oversteps legal bounds.” The CFPB ruled May 22 that BNPL vendors are credit card providers and must provide some key legal protections and rights delivered […]
March 10, 2021
A new trade group formed by FinTech leaders called the Financial Technology Association (FTA) launched Wednesday (March 10), according to a press release. Afterpay is a founding member alongside Betterment,...
