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The CFPB Determines "Buy Now, Pay Later" Providers Are Card Issuers under Regulation Z | JD Supra
JD Supra· 2 days agoThe CFPB made this determination by interpreting the term “credit card” under Regulation Z to include a digital user account that a consumer can use through ...
CFPB Considering Increased Regulation of Credit Card Rewards Programs | JD Supra
JD Supra· 6 days agoOn May 9, 2024, the CFPB released a comprehensive report detailing its findings on challenges reported by consumers regarding their credit card rewards programs. This report ...
CFPB Interpretive Rule Holds That BNPL Lenders Are Credit Card Providers
The National Law Review· 1 day agoOn May 22, the CFPB announced an interpretive rule confirming that Buy Now, Pay Later (BNPL) lenders...
‘This is just the beginning of CFPB regulation of the BNPL industry’ – regulatory experts
Retail Banker International via Yahoo Finance· 3 days agoHowever, watch this space and watch the bad debt treatment unwind – the blatant stunt of comparing...
CFPB Issues “Interpretive Rule” Deeming BNPL Providers Card Issuers | JD Supra
JD Supra· 2 days agoThe result of the CFPB’s multi-year study of the BNPL industry is what the CFPB calls an interpretive rule in which it finds that: (1) “digital user accounts ...
CFPB Bites of the Month - May 2024 - CFPB: Light My Way, Virginia May | JD Supra
JD Supra· 2 days agoOn May 13, 2024, the CFPB and Federal Reserve Board ("FRB") jointly announced adjusted dollar amounts relating to the availability of customer funds. In 2019, the
CFPB tightens rules for buy now, pay later lenders
FOX Business· 4 days agoThe Consumer Financial Protection Bureau (CFPB) on Wednesday announced it will impose some of the same rules on buy now, pay later (BNPL) lenders that...
How to protect your credit card rewards as CFPB responds to a surge in customer complaints
Yahoo Personal Finance· 2 days agoAmid rising complaints, the CFPB is taking a close look at credit card reward programs. While...
CFPB Says BNPL Must Provide Consumer Protections Offered by Credit Cards
PYMNTS.com· 4 days ago“Regardless of whether a shopper swipes a credit card or uses buy now, pay later, they are entitled...
CFPB Director Targets Credit Reporting Fees
The National Law Review· 1 day agoThe CFPB is continuing its crusade against so called “junk fees,” and now is looking at crediting reporting fees. In a May 20 speech to the Mortgage Bankers Association, Director ...