This week, an official with the Financial Conduct Authority (FCA), an agency tasked with overseeing firms and markets in the U.K., compared her job to that of a juggler. “Juggling is, at least metaphorically, a skill we regulators have to master,” said Sarah Pritchard, executive...
Consumer protection officials for the United States and the European Commission have met to discuss three shared priorities: buy now, pay later (BNPL), digital payments and artificial intelligence (AI). The three meetings followed a July 2023 announcement by U.S. Consumer Financial Protection Bureau (CFPB) and...
The Consumer Financial Protection Bureau (CFPB) is monitoring the increasing payment of “discount points” by homebuyers and the potential risk this may pose to consumers. The percentage of homebuyers paying discount points doubled from 2021 to 2023, and the increase was even greater among those...
The Consumer Financial Protection Bureau detailed in its 2023 Consumer Response Annual Report that consumers have been the targets of fraudulent account openings, and installment loans were the most cited type of personal lending in complaints. The report, released Friday (March 29), noted that complaints...
January 17, 2024
Labels are popular on Capitol Hill. And this week the labels are flying fast and furiously, aimed at big banks and credit unions. The Consumer Financial Protection Bureau (CFPB) put forth a proposal Wednesday (Jan. 17) that would limit overdraft fees — in many cases, drastically so. In the release detailing the proposal, the CFPB […]
September 16, 2021
Nothing is as certain as death and taxes, they say. And when it comes to payments and credit innovations experiencing explosive growth, particularly buy now, pay later (BNPL) — perhaps...
August 25, 2021
As COVID-19 ebbs and flows and a sustainable re-opening for business and leisure remains shrouded in uncertainty, at least one thing has become clear; people everywhere are itching to pack...
December 02, 2019
Every merchant is looking for an edge – a way not only to make more money, but also to hit on fresh methods for building customer loyalty and trust. As...
May 22, 2024
The Consumer Financial Protection Bureau (CFPB) ruled Wednesday (May 22) that buy now, pay later (BNPL) vendors are credit card providers and must provide some key legal protections and rights delivered by conventional credit cards. That includes, for example, the consumer’s right to dispute charges and demand a refund from the lender, the agency said […]
April 11, 2024
Consumer protection officials for the United States and the European Commission have met to discuss three shared priorities: buy now, pay later (BNPL), digital payments and artificial intelligence (AI). The...
April 05, 2024
The Consumer Financial Protection Bureau (CFPB) is monitoring the increasing payment of “discount points” by homebuyers and the potential risk this may pose to consumers. The percentage of homebuyers paying...
March 26, 2024
The Consumer Financial Protection Bureau (CFPB) is recruiting more technologists and conducting additional research to address the role of transformative technologies in consumer financial markets. The agency aims to help...
