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Providers

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

“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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Regulation

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

“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 […]