The payments and financial services landscapes remain in flux, and that continues to create opportunities for bad actors. With regulatory and cyber risk landscapes becoming increasingly complex, while at the same time financial crime tactics are growing more sophisticated, organizations cannot afford to remain reactive. The...
The Treasury Department said Sunday (March 2) that it will not enforce the Corporate Transparency Act’s penalties and fines associated with the beneficial ownership information reporting rule. It will not do so under the existing regulatory deadlines and will not enforce penalties or fines against...
Twenty-three state attorneys general have joined a lawsuit fighting the shutdown of the CFPB. In an amicus brief filed last week, the states argue that closing the Consumer Financial Protection Bureau (CFPB) would harm consumers and make consumer protection laws harder to enforce. “Eliminating the...
The Consumer Financial Protection Bureau’s (CFPB) acting director has reportedly agreed to pause a mass firing of agency employees. As ABC News reported Friday (Feb. 14), attorneys for Russell Vought, acting director of the CFPB, reached an agreement during a court conference to postpone the...
February 09, 2025
The Consumer Financial Protection Bureau’s (CFPB) new boss has put a hold on consumer protections. Workers at the financial regulator will work from home this week while their headquarters are closed down, CNBC reported Sunday (Feb. 9). That shutdown lasts through Feb. 14, the report said, the same day a judge is scheduled to hold […]
July 06, 2021
More businesses and consumers are conducting their daily tasks and transactions online, meaning offering seamless digital experiences is becoming increasingly important for today’s financial institutions (FIs). This also means banks...
September 04, 2018
U.K. payday lending startup Wonga has come to the end of the road, having filed for administration (similar in concept to bankruptcy in the U.S.) in the closing days of...
May 28, 2018
It’s not exactly dogs and cats living together in harmony, but FinTechs and banks — the upstarts and the traditionalists — are certainly cozying up, a trend that looks certain...
March 06, 2025
Treasury Secretary Scott Bessent reportedly said Thursday (March 6) that his department will work to see that financial regulators focus on material financial risks. Speaking at The Economic Club of New York, Bessent also addressed media reports that the Trump administration is considering consolidating the federal banking agencies, The Wall Street Journal (WSJ) reported Thursday. […]
March 03, 2025
The Treasury Department said Sunday (March 2) that it will not enforce the Corporate Transparency Act’s penalties and fines associated with the beneficial ownership information reporting rule. It will not...
February 24, 2025
Twenty-three state attorneys general have joined a lawsuit fighting the shutdown of the CFPB. In an amicus brief filed last week, the states argue that closing the Consumer Financial Protection...
February 16, 2025
The Consumer Financial Protection Bureau’s (CFPB) acting director has reportedly agreed to pause a mass firing of agency employees. As ABC News reported Friday (Feb. 14), attorneys for Russell Vought,...
