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CFPB Finalizes Small-Dollar Lending Rule

After five years and more than a million comments on its proposed rulemaking, the CFPB has finalized its payday lending rules with the ability-to-repay test intact for many loan types.


CFPB Financial Well-Being Report Underscores Industry Opportunity

More than 40 percent of U.S. adults struggle to make ends meet, according to new data from the CFPB. While not great news on its own, the findings could help financial services providers design products directed at improving financial well-being.


Equifax Breach Fallout Far-Reaching

The fallout from Equifax’s data breach, which threatened personal data of 143 million U.S. consumers, continues with an FTC investigation and Mastercard and Visa reporting 200 million cards at risk. What’s more, public sentiment could stymie a Congressional push to repeal the CFPB’s final rulemaking on arbitration agreements.   


OCC Isn’t Ready for Fintech Charter Applications Just Yet

Acting Comptroller of the Currency Keith Noreika told FinovateFall attendees in New York this week that the agency is still in the exploratory phase of its fintech charter, according to news reports.

Pay Gov Newsletters


Pay Gov – June 2017, Vol. 11, Issue XI

In this issue: Industry Rallies on Innovation amid Uncertainty; N.J. Gets Tough on Prepaid; CFPB Slams Credit Repair Execs; Treasury Backs Reform; More


Pay Gov – June 2017, Vol. 11, Issue X

In this issue: Cross-Border Prepaid Headaches?; Dodd-Frank Overhaul Vote Friday; CFPB: Prepaid Complaints Dip; Defendant Challenges CFPB Constitutionality; Deutsche Bank’s AML Woes; More


Pay Gov – May 2017, Vol. 11, Issue IX

In this issue: CFPB in Court Today; OCC Loosening Financial Regulations?; 3 States with New Bitcoin Regs; More


Pay Gov – May 2017, Vol. 11, Issue VIII

In this issue: Industry Weighs in on Trump’s First 100 Days; Tick Tock on CRA for Prepaid Rule; Hensarling’s CFPB Bill Moves; Guess Who’s Suing OCC; more

Pay Gov State Update


What You Need to Know about Pa.’s Money Transmitter License Changes

The introduction of new bond requirements for money transmitters in Pennsylvania is in line with an overall trend across states to enforce stricter conditions on money transmitter license holders and applicants. See what the licensing requirements mean for your business.


New York Files Suit against OCC Fintech Charter

New York Department of Financial Services opposes the plan from the Office of the Comptroller of the Currency to enable fintech companies to become special purpose national banks. The NYDFS superintendent describes the proposal as “reckless folly.”


Digital Currency Roundup: Bitcoin Law Changes in Three States

Vermont, Washington state and Florida have significant developments on the digital currency regulation front.


Illinois Bill Would Require Retroactive Reporting of Gift Cards, Other Property

An Illinois bill could remove exemptions on unclaimed property reporting requirements for gift cards and property resulting from B2B transactions—and could require retroactive reporting of such property received as far back as 2003.