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Tag: Consumer Financial Protection Bureau

FedNow and the Looming Challenge of Authorized Push Payment Fraud

The advent of FedNow, the Federal Reserve Bank's instant payments network, has ushered in a new era of real-time capabilities. However, alongside this innovation, concerns are mounting...

US Senators Urge FTC to Address AI-Enabled Scams Targeting Older Americans

Recently, four US Senators - Bob Casey (D-PA), Richard Blumenthal (D-CT), John Fetterman (D-PA), and Kirsten Gillibrand (D-NY) - expressed deep concern about the...

Spotlight on AI, digital assets at House subcommittee hearing

The House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion convened a pivotal hearing on Dec. 5, to hear from high-ranking representatives...

Bank of America To Pay $12,000,000 Fine for Repeatedly Breaking the Law, Sending False Information to Regulators – The Daily Hodl

One of the largest banks in the country is getting slapped with a multi-million dollar fine from the Consumer Financial Protection Bureau (CFPB). The agency...

Where is the Apple payment and Crypto suit headed?

Apple is facing a new class-action lawsuit by users of Venmo and CashApp, who claim that Apple conspired to limit peer-to-peer (P2P) payment options...

Major US Bank Will Hand Out $1,400,000 for Treating Group of Americans As Criminals, Giving ‘Fake Reasons’ To Deny Services: CFPB – The Daily...

The Consumer Financial Protection Bureau (CFPB) says it’s ordering financial giant Citibank to shell out over a million dollars to potential customers who were...

Lending Giant Fined $15,000,000 for Withdrawing Funds From Bank Accounts Without Consent, Deceiving Customers With False Statements – The Daily Hodl

One of the largest licensed lenders in the US will pay a $15 million fine for “widespread illegal conduct” including withdrawing funds from customers’...

Crypto && Coffee 146

Crypto && Coffee 146November 17, 2023CipherTrace EngineeringTechnology Recap:BitcoinThe term "Bitcoin" can either refer to Bitcoin the network, ... More:Ethereum:Christine Kim of Galaxy provides the...

CFPB Wants to Oversee Large Nonbank Digital Payment Providers

By Jeremy McLaughlin, Andrew Hinkes, and Josh Durham Yesterday the Consumer Financial Protection Bureau (CFPB) issued a Notice of Proposed Rulemaking...

Will Merchant Sites Continue to Adopt Flexible Payments?

The e-commerce landscape has witnessed a significant transformation in the way consumers make payments. Traditional methods, like credit and debit cards, are no longer the exclusive choices....

Elon Musk wants to make traditional banks obsolete

These developments are in line with Musk’s vision of transforming X into the next super app, akin to the current WeChat super app in...

The CFPB Formally Proposes 1033 Open Banking Rule – Finovate

The U.S. Consumer Financial Protection Bureau (CFPB) took a step in the direction of formalizing open banking regulation today. The agency proposed a...

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