Payments News

On The Web

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Regulation

Payday Lenders Mobilize in Support of Rule’s Repeal, Consumer Group Says

May 14 2019

“Payday lenders have been mobilizing their customers to push the federal government to ease Obama-era regulations of the industry, according to research by a consumer advocacy group that favors the rules. Since the Consumer Financial Protection Bureau began soliciting public comment on a proposed rule governing small-dollar, high-interest consumer loans, the lenders have organized thousands […]
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Regulation

CFPB Expands Relief for Banks and Credit Unions From Remittance Rules

May 12 2020

“More banks will be able to estimate costs to consumers of remittance transfers rather than quote exact third-party fees and exchange rates under a final rule issued by the Consumer Financial Protection Bureau. The rule released Monday expanded and made permanent temporary protections established in an earlier 2013 regulation. The new rule establishes a safe […]
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Providers

The Prepaid Business Adopts a Sanguine Approach As the CFPB’s Big Rule Finally Takes Effect

April 2 2019

“The Consumer Financial Protection Bureau’s voluminous prepaid card rule finally took effect with sweeping provisions governing matters ranging from fee disclosures to error-resolution rights to consumers’ access to their accounts. But issuers of prepaid cards and digital wallets have had time to adjust to the CFPB’s rule, which a hostile Congress once tried to quash […]

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