Aug 22, 2024 | Federal Regulation, News
CFPB Taking on Chatbots The Biden Administration is pushing the Consumer Financial Protection Bureau (CFPB) to investigate banks’ use of chatbots and to address customer service “doom loops” in a broader effort to prioritize consumers’ time. The White House said that...
Aug 14, 2024 | Congressional Legislation, Federal Regulation, News
Congressional Resolution Introduced to Undo CFPB’s Buy Now, Pay Later Guidance Earlier this month, members of the U.S. House of Representatives introduced H.J. Res. 195, a joint resolution providing for congressional disapproval under the Congressional Review...
Aug 8, 2024 | Federal Regulation, FinTech, News
Comment Period on CFPB BNPL Rule Closes, Leaving Future Unclear The comment period has officially ended for the Consumer Financial Protection Bureau (CFPB)’s interpretive rule on buy now, pay later (BNPL) products, with multiple companies and organizations weighing in...
Aug 6, 2024 | Federal Regulation, FinTech, News
Regulators Seeking More Details on Bank-Fintech Relationships Federal regulators have recently sought comments on the relationships between financial institutions and the third parties—especially fintechs—that often partner with them. Agencies seeking better...
Jul 31, 2024 | Federal Regulation, News
CFPB Issues Circular Saying NDAs that Deter Whistleblowing May Break the Law The Consumer Financial Protection Bureau (CFPB) recently issued a circular to regulators and law enforcement agencies, explaining that it could be unlawful for companies to require employees...
Jul 23, 2024 | Federal Regulation, FinTech, News
CFPB Says Earned Wage Access Apps are Providing Loans Last week, the Consumer Financial Protection Bureau (CFPB) said that apps that allow workers to access their paychecks early—and usually for a fee—are actually providing loans, thus making them subject to the Truth...
