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Advice | The U.S. wants to crack down on payday loans. Here’s what you need to know.
Washington Post· 2 hours agoFollowing a Supreme Court ruling in May, the federal government is expected to get tougher on regulating payday lenders and other firms that offer high-interest, short-term loans. This type ...
New CFPB Interpretive Rule to Regulate BNPL | JD Supra
JD Supra· 6 days agoThe re-energized CFPB had previously conducted a years-long study on BNPL credit, highlighting the market's post-Covid boom and perceived gaps in consumer protection
Why (some) Filipinos cling to online lenders - BusinessWorld Online
BusinessWorld· 21 hours agoNOT ALL are qualified for bank loans. Frankie Garcia, 52, a manager at an information technology...
CFPB Issues Interpretive Rule Classifying BNPL Products as ‘Credit Cards’
The National Law Review· 7 days agoOn May 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a significant Interpretive...
CFPB Supreme Court Decision Protects Consumer Protection Whistleblowers
The National Law Review· 5 days agoOn May 16, 2024, in a 7-2 opinion authored by Justice Clarence Thomas, the Supreme Court held that...
Utah, Colorado Pave Way for AI-Specific State Laws – Is Your Company Ready for the Impending ...
JD Supra· 5 days agoEarly state AI laws have the potential to exert an outsized influence on the trajectory of AI regulation in the US. The need to develop comprehensive AI laws inherently stems ...
CFPB Applies Consumer Credit Card Protections to Buy Now, Pay Later Plans | JD Supra
JD Supra· 6 days agoBuy Now, Pay Later (“BNPL”) payments are often presented by retailers and BNPL lenders to consumers as an alternative to traditional credit card...
Consumers and Small Businesses to Help Set Open Banking Standards
PYMNTS.com· 5 days agoNews came Wednesday (June 5) that the Consumer Financial Protection Bureau (CFPB) has set in motion...
CFPB Applies Credit Card Rules to 'Buy Now, Pay Later' Lenders | JD Supra
JD Supra· 5 days agoGiven that traditional BNPL products do not involve a finance charge and are repayable in four or fewer installments, many provisions of Regulation Z do not apply to BNPL ...
A Symptom of a Broader Issue: Politics vs. Constitutional Law in 'CFPB v. CFSA' | Daily Business...
Law.com· 3 days agoCommunity Financial Services Association of America (the CFSA case). As many commentators suggested,...