New rule makes BNPL sustainable in long term, experts say
The new Consumer Financial Protection Bureau rule putting buy now, pay later providers in the same category as credit card ...
Tag: CFPB
75% of global banks unprepared for open banking
Most financial institutions are not ready for open banking, but the tedious task of prepping bank platforms can be streamlined ...
CFPB fines Chime $3.25M
Chime Financial was fined $3.25 million by the Consumer Financial Protection Bureau today as the digital bank has failed to ...
CFPB: Open banking update
Consumer Financial Protection Bureau Director Rohit Chopra released an update today on the bureau’s Personal Financial Data Rights rule-sharing based ...
Open banking: API ownership, liability
Data protection protocols were among the top concerns raised after the Consumer Financial Protection Bureau gave consumers and the industry ...
Open banking: Catalyst for innovation, competition
Open banking regulation is in the works — finally. The Consumer Financial Protection Bureau (CFPB) announced in October 2022 a ...
New CFPB proposal cracks down on payments providers
The Consumer Financial Protection Bureau proposed a new rule today that would subject large nonbank companies, including digital wallet providers ...
CFPB lags on information security updates
While the Consumer Financial Protection Bureau plans to step up enforcement action in the lending sector, the federal watchdog has yet to ...
Lenders using AI-based underwriting must comply to CFPB guidance
The Consumer Financial Protection Bureau has doubled down on adverse action requirements for lenders using AI-based underwriting with new guidance, marking a ...
CFPB highlights AI-driven chatbot risks for FIs
Financial institutions must consider the efficiencies and limitations of artificial intelligence when deploying chatbots as client adoption grows and regulators ...
