CFPB Makes Amendment For Truth In Lending Act

What's Next In Payments®
7:03 PM EDT February 4th, 2013

The Consumer Financial Protection Bureau has made an amendment to Regulation Z in accordance with the Dodd-Frank Act’s amendments of Truth in Lending Act.

The new rule implements tests that determine when loan originators can be compensated through profit-based arrangements, according to BankCreditNews.com. The rules also mandate that compensation received by loan originators directly from a consumer cannot be supplemented by compensation from another party involved in the same transaction.

Read the full story here.

Topics:
Comments
Also by This Author
What's Hot
News
Mobile Payments Fuel Starbucks Growth
Merchant Innovation
ATM Networks Join Forces Against Fraud
News
Amazon Stock Tumbles on Losses
Merchant Innovation
MoneyGram Beefs Up Exec Ranks
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Alternative Financial Services
The FI Payments’ Innovation Survival Kit
Alternative Financial Services
“Embrace Innovation” (Or Else Suffer The Consequences)
News
Mobile Payments Fuel Starbucks Growth
Hmmm
Visa Unveils Major Digital Moves
View All Articles ››