LendingClub, the online lender that was once a favorite of Wall Street investors, saw its stock hit a record low on Wednesday (April 25) after it faced allegations by regulators in the U.S. that it was adding on hidden fees and charging borrowers even after...
The Supreme Court has ruled that lawsuits filed by victims of terrorist attacks and their families against Arab Bank cannot proceed. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, urged executives in the banking industry to put pressure on lawmakers if they want to see their agendas realized, even saying as a lawmaker he would meet only with lobbyists that had contributed to...
Fiserv, the global provider of financial services technology, announced Wednesday (April 25) the launch of FinKit for Open Banking, which is aimed at helping financial institutions meet and keep pace with new regulations coming thanks to the open banking initiative. Get the Full Story Complete...
Seeking to inject more transparency into the Consumer Financial Protection Bureau (CFPB), Rep. Sean Duffy, R-Wis., has introduced legislation designed to do just that. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
Wells Fargo, the embattled bank, is gearing up to ask the Office of the Comptroller of the Currency for an extension to a deadline to meet an enforcement action that has to do with anti-money laundering controls at the bank. Get the Full Story Complete...
In a “coordinated action” with the Office of the Comptroller of the Currency (OCC), the Bureau of Consumer Financial Protection Bureau (CFPB) announced a settlement with Wells Fargo on Friday (April 20): The CFPB assessed a $1 billion penalty against the bank, but the bureau credited...
Aiming to fill the void resulting from the Consumer Financial Protection Bureau’s retreat from regulation, states are stepping up and going after big financial companies. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
A perfect storm of regulatory changes and card brand rule changes has left many merchants wondering to whom, exactly, they are beholden and what, exactly, they must do to comply. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
