In an attempt to reassure the Silicon Valley, the Commissioner in charge of the EU’s digital economy, Andrus Ansip, claimed yesterday in an interview with the The Wall Street Journal that the EU’s single digital market is not about protectionism, but really about opportunities. Get the...
On June 11, 2013, the Consumer Financial Protection Bureau (CFPB) released a report that raised concerns about the ability of consumers to anticipate and avoid overdraft costs on their checking accounts. The report found, for instance, wide variations across financial institutions regarding the costs and...
The banking, lending, and debt collection industries will have to wait a bit longer than expected for the Consumer Financial Protection Bureau’s (CFPB) progress on the debt collection rulemaking. This is the second delay since the U.S. government independent agency launched its advanced notice of...
So here’s a question. When is a prepaid card actually a credit card? Here’s an answer: When the CFPB says so. The CFPB recently released nearly 900 pages of proposed rule changes for prepaid products which would reclassify some prepaid products as credit products. That...
Concerns over human and drug trafficking have led some big banks to make an extreme move in an attempt to avoid illegal money that is flowing over the border (or, more accurately, crawling under the border in dozens of long underground tunnels) and ending up...
New York’s – and consequently Wall Street’s – top financial regulator Benjamin Lawsky will be stepping down from his position as banking regulator in the state Department of Financial services. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Following an order from the Consumer Financial Protection Bureau announced Tuesday (May 19), PayPal has agreed to pay the imposed fine of $25 million related to deceptive credit accusations from the agency. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
JP Morgan Chase’s new global think tank is working with policy makers and economists in an attempt to tap into big data insights to better understand how changes in individual financial behaviors affect the economy as a whole, reported Financial Times Wednesday (May 20). Get the...
After years of debates, universities will be prohibited from forcing students to have federal aid dispersed on prepaid or debit cards that charge fees for overdrawing the accounts, according to rules issued Friday by the Education Department. The new set of restrictions could cost schools millions, as...
