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10.05.17

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.

09.28.17

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.

09.15.17

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.   

09.14.17

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.

09.14.17

U.K. to Get New Payment Systems Operator by Year’s End

Payment Systems Regulator (PSR) and Bank of England have revealed that the U.K. will be getting the New Payment Systems Operator by the end of 2017, which the PSR says will be an important step in streamlining the U.K.’s payment systems and fostering competition and innovation.

09.12.17

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.

08.31.17

Wells Fargo Fake Bank Account Scandal Grows

The scandal of employees at Wells Fargo creating 2.1 million fake bank accounts and credit card numbers to boost sales figures has just gotten bigger.

08.28.17

Blockchain Roundup: The Good, the Bad and the Ugly

Nations, platforms and some bad news in our latest blockchain and bitcoin roundup. Find out more about the SEC’S suspension of First Bitcoin Capital Corp., an initial coin offering for cryptocurrency exchange platform KyberNetwork and more.

08.24.17

Simplify Back-to-School Season with E-Payments

Prepaid cards and alias-based payments that rely on email or mobile phone numbers can offer students and colleges and universities significant benefits over traditional check disbursement of financial aid.

08.21.17

Consumers Union Calls for More Prepaid Regs; NAFCU Wants Them Rescinded

Plagued by delays, threatened by Congressional repeal and finally opened to further comment and changes, the CFPB’s final rule on prepaid accounts now has consumer groups calling for the bureau to “strengthen” consumer protections while a credit union trade group wants the rule rescinded.