Consumer Financial Protection Bureau (CFPB) - News, Articles & Research

CFPB expands oversight of Big Tech payment apps

The Consumer Financial Protection Bureau (CFPB) has finalised a rule that will see it supervise tech giants such as Apple and Google that offer digital payment apps and wallets.

21 November 2024

News/regulation

States should fill in gaps in federal law to protect customer financial data - CFPB

US states should assess gaps in their data privacy laws to ensure Americans are protected in an era when financial institutions are increasingly bidding to monetise their customers' data, according to the CFPB.

13 November 2024

News/crime

CFPB charges Navy Federal Credit Union $95 million for overdraft and junk fees

The Consumer Financial Protection Bureau (CFPB) has charged the US’s largest credit union for illegally charging users overdraft fees.

08 November 2024

News/regulation

VyStar Credit Union fined $1.5m over bungled online banking migration

Florida-based VyStar Credit Union has been hit with a $1.5 million penalty over the botched rollout of a new online banking system that saw members unable to access their accounts and money.

01 November 2024

News/regulation

CFPB faces lawsuit over new open banking rules in bank pushback

The Bank Policy Institute and Kentucky Bankers Association have filed a lawsuit against the Consumer Financial Protection Bureau, alleging that the regulatory agency overstepped its authority on the release of new open banking rules

23 October 2024

News/regulation

US moves to 'open banking' with Personal Financial Data Rights final rule

Consumers in the US will be given the right to instruct their banks to transfer their financial data to other institutions, under new open banking rules devised by the Consumer Financial Protection Bureau.

22 October 2024

News/regulation

Fintech association sues CFPB over BNPL rule

The Financial Technology Association (FTA) has filed a lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB) new buy now, pay later rules.

21 October 2024

News/regulation

Climb Credit sued by CFPB for “false promises and outright lies”

The Consumer Financial Protection Bureau (CFPB) has announced its suit against Climb Credit and its largest shareholder 1/0 for misrepresenting the quality of its training programmes at partner schools.

18 October 2024

News/ai

CFPB and American Fintech Council stake out AI positions to Treasury

Responding to a call from the US Treasury, the Consumer Financial Protection Bureau (CFPB) and the American Fintech Council (AFC) have both weighed in on the use of AI in financial services.

14 August 2024

News/security

JPMorgan ponders legal action over Zelle probe

JPMorgan Chase is considering taking legal action against the Consumer Financial Protection Bureau (CFPB) over an ongoing probe into the abuse of Zelle payments by scammers.

05 August 2024

News/markets

CFPB proposes rule for paycheck advance products

The interpretive rule is designed to help ensure US workers know the costs and fees of paycheck advance products.

19 July 2024

Company announcement/regulation

American Fintech Council responds to CFPB buy now, pay later rules

The American Fintech Council (AFC), the fastest growing premier industry association representing responsible fintech companies and innovative banks, submitted its response to the Consumer Financial Protection Bureau (CFPB) on the proposed Interpretive Rule and Request for Comment on the Use of Digital User Accounts to Access Buy Now, Pay Later Loans.

15 July 2024