The Fed Officially Jumps into Real-Time Payments
← Previous Article Next Article → Last week, we told readers that Federal Reserve (Fed) Chairman Jerome Powell was “seriously considering” a real-time payments system. A week later, the Fed officially announced that it would begin developing a...
Parties Request Continued “Stay” on Small-Dollar Rule
← Previous Article Next Article → On August 2, 2019, the defendants and plaintiffs in a lawsuit over the Consumer Financial Protection Bureau’s (CFPB) Small-Dollar Rule asked a Texas district court to continue its stay of the Rule, including both the...
CFPB Extends Open Comment Period for Debt Collection Rule
← Previous Article Next Article → The Consumer Financial Protection Bureau (CFPB) announced yesterday that it would extend the open comment period for its proposed Debt Collection Rule. Interested parties now have until September 18, 2019 to submit... Fed Chairman Backs Real-Time Payments
← Previous Article Next Article → In a letter to Congress, Federal Reserve Chairman Jerome Powell indicated that the U.S. Federal Reserve (Fed) was “seriously considering” a real-time payments system, and that the Fed was uniquely structured to oversee the...
FTC and Ohio Join Forces to Protect Consumers
← Previous Article Next Article → A federal court in Texas recently shutdown a “rogue payment processor” and a “credit card interest reduction scheme” that allegedly took millions of dollars from consumers illegally, according to the Federal Trade Commission...
CFPB Proposes Settlement with Debt Collectors
← Previous Article Next Article → The Consumer Financial Protection Bureau (CFPB) along with the New York Attorney General (AG) proposed settlements with several debt collectors that were allegedly in violation of the Consumer Financial Protection Act, the... Small-Dollar Rule Compliance Guide
← Previous Article Next Article → The payment provisions of the Consumer Financial Protection Bureaus’ (CFPB) small-dollar rule (the Rule), also known as the payday rule, is set to go into effect on August 19, 2019. Last month, the CFPB updated its Small...
Equifax Reaches Settlement with Federal Regulators
← Previous Article Next Article → Equifax reached a large financial settlement with federal and state regulators last week, stemming from their mishandling of the 2017 data breach that impacted nearly 150 million Americans. The settlement would resolve a...
