Perhaps the most frequently asked question that will come in the wake of the Consumer Financial Protection Bureau’s (CFPB’s) publication of a “frequently asked questions” (FAQs) page pertaining solely to buy now, pay later (BNPL) lenders might be this one: “What comes next?” The FAQ...
Klarna argues for a bespoke regulatory framework, while AARP supports the rule, emphasizing the need for consumer protections as buy now, pay later (BNPL) usage grows among older Americans. Time has expired for companies looking to comment on the Consumer Financial Protection Board’s (CFPB) interpretive...
With the Consumer Financial Protection Bureau (CFPB) winding down its commentary period for potential buy now, pay later regulations, Affirm Friday (July 26) submitted a detailed response advocating for adjustments that it says will better accommodate the unique aspects of BNPL products. The CFPB’s proposed...
The Connecticut Department of Banking has issued new industry guidance regarding the Small Loan Lending and Related Activities Act. These changes in the regulation are set to come into effect on Oct. 1, the regulator said in the document released Monday (Sept. 11). One of the key changes brought...
July 31, 2024
Klarna argues for a bespoke regulatory framework, while AARP supports the rule, emphasizing the need for consumer protections as buy now, pay later (BNPL) usage grows among older Americans. Time has expired for companies looking to comment on the Consumer Financial Protection Board’s (CFPB) interpretive ruling on BNPL plans. With the CFPB holding options open […]
July 29, 2024
With the Consumer Financial Protection Bureau (CFPB) winding down its commentary period for potential buy now, pay later regulations, Affirm Friday (July 26) submitted a detailed response advocating for adjustments...
October 15, 2024
The Consumer Financial Protection Bureau (CFPB) has announced rules related to threshold adjustments for mortgage loan appraisals, consumer credit transactions and consumer lease transactions. All three threshold adjustments will increase, effective Jan. 1, 2025. The exemption threshold for special appraisal requirements for “higher-priced mortgage loans” or HPMLs under Section 129H of the Truth in Lending […]
September 13, 2023
The Connecticut Department of Banking has issued new industry guidance regarding the Small Loan Lending and Related Activities Act. These changes in the regulation are set to come into effect on Oct. 1, the...
March 12, 2020
Plaintiffs in a case that alleged JPMorgan Chase charged clients too much for buying digital currencies with their credit cards have reportedly arrived at a settlement with the bank, CoinDesk...
January 31, 2020
The Consumer Financial Protection Bureau (CFPB) filed a lawsuit on Thursday (Jan. 30) against Citizens Bank over alleged violations of the Truth In Lending Act (TILA). It filed the complaint...
