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8 May 2024, 2:26 pm by Kevin LaCroix
Census Bureau’s Survey of Consumer Finances reveals that nearly half of Americans aged 55-65 have not saved anything ($0.00) in a qualified retirement account.[2]  The rest of the U.S. population has not done much better. [read post]
29 Apr 2024, 10:00 pm by Sherica Celine
Read here » Related Content Fair Debt Collection Practices Act Learn about the FDCPA including prohibited activities, regulatory compliance requirements, and recent amendments. 2021 CFPB Modernization Debt Collection Explore this practice note for an overview of the FDCPA and gain access to background information on CFPB’s authority in the Federal Fair Lending and Credit Practices Manual § 14.01 (2023) , provided by Matthew Bender & Company, Inc., a member of… [read post]
26 Apr 2024, 6:00 am by Michelle
Kathy Hochul that sought to ramp up state-level regulation of the buy-now, pay-later market, a fintech-heavy field that has surged in popularity as a credit card alternative. [read post]
19 Apr 2024, 6:00 am by Michelle
In addition, the regulators focused their attention on artificial intelligence and the use of AI by financial institutions in providing consumer financial services. . . . [read post]
5 Apr 2024, 6:00 am by Michelle
American Express Co., Discover Financial Services, and Visa Inc. soon followed. . . . [read post]
29 Mar 2024, 6:00 am by Michelle
The two card network giants have been battling the merchants in court for nearly two decades, fighting billions of dollars in claims that they overcharged merchants when customers swiped their credit cards to pay for products and services. [read post]
8 Mar 2024, 6:00 am by Michelle
CFPB Adopts Rule to Slash Credit Card Late Fees By BillionsLaw360 – March 5, 2024 (subscription required) The Consumer Financial Protection Bureau said Tuesday that it has finalized a new rule to sharply lower the typical credit card late fee from more than $30 down to just $8, a move that could save consumers billions of dollars annually and is expected to face a swift industry challenge in court. [read post]
4 Mar 2024, 5:56 pm
Pix credit here In a 53 page opinion, the United States District Court for Northern Alabama has ruled, in National Small Business Association v. [read post]
22 Dec 2023, 6:00 am by Michelle
When Apple Inc. was preparing to introduce its Apple Pay feature on the iPhone in 2014, Visa Inc. and Mastercard Inc. worried it would drive down the “lucrative” fees they charge merchants who use their point-of-sale transaction payment networks, but instead of competing, Apple and the credit card companies reached a mutually beneficial anti-competitive agreement, according to the complaint filed by Mirage Wine & Spirits Inc. . . . [read post]
8 Dec 2023, 6:00 am by Michelle
EST Jan. 16, will allow six organizations to publicly air their positions on the proposed rule: home maintenance services company Frontdoor, the Interactive Advertising Bureau, International Franchise Association, NCTA – The Internet & Television Association, the Performance Driven Marketing Institute and TechFreedom. [read post]
13 Nov 2023, 9:05 pm by renholding
On November 3, 2023, the 10 voting members of the Financial Stability Oversight Council (“FSOC” or “Council”)[1] voted unanimously to finalize (1) amendments to its existing interpretive guidance (“2019 Interpretive Guidance”)[2] governing the designation of nonbank financial companies for supervision by the Federal Reserve Board and application of prudential standards (“Interpretive Guidance”)[3]and (2) an “analytic framework” for… [read post]
10 Nov 2023, 6:00 am by Michelle
Surcharging is not allowed on debit cards, though some government entities may collect a service fee with either credit or debit cards. . . . [read post]
27 Oct 2023, 6:00 am by Michelle
The merchants alleged they were overcharged for credit and debit card transactions when consumers swiped their cards to pay for goods and services. [read post]
24 Oct 2023, 7:29 am by sydneygallek
Their financial offerings include mortgages, personal loans, banking services, credit cards, and investing options. [read post]
24 Oct 2023, 7:29 am by sydneygallek
Their financial offerings include mortgages, personal loans, banking services, credit cards, and investing options. [read post]
26 Sep 2023, 6:44 pm by Jack Bogdanski
Elizabeth Steiner, Oregon District 17Chair Jessica Vega Pederson, Multnomah County*David Anderson, NW NaturalMonique Claiborne, Greater Portland, IncGraciela Cowger, Schwabe*Shea Flaherty Betin, Prosper PortlandRobert Gootee, Moda Health*Stephen Green, Business for a Better Portland*Nkenge Harmon Johnson, The Urban League*Andrew Hoan, Portland Metro Chamber*Renee James, Ampere*Rachel Langford, Home ForwardCobi Lewis, Micro Enterprise Services of Oregon*Rob O'Neill, Moss AdamsLance… [read post]
15 Sep 2023, 6:38 am by Zak Gowen
Legal and Regulatory Developments SPOTLIGHT: The CFPB Eyes Tech Firms’ Role in Governing Tap-To-PayDigital Transactions News – September 8, 2023 The Consumer Financial Protection Bureau late Thursday released a report raising questions about the part restrictions imposed by big technology firms like Apple Inc. and Alphabet Inc’s Google subsidiary may play in hampering innovation, consumer choice, and the growth of open and decentralized banking and… [read post]