California joined 20 other states and the District of Columbia on Monday in a lawsuit that seeks to prevent the federal Consumer Financial Protection Bureau from being defunded…
Read more California, other states file suit to prevent shutdown of federal consumer agencyWhen I first joined the Consumer Financial Protection Bureau, we were still building the agency from the ground up: its mission, its systems, its very identity. I remember…
Read more How AI could deliver a 21st-century regulator and a more efficient financial systemThe Consumer Financial Protection Bureau may run out of money to operate in early 2026 after the Department of Justice’s Office of Legal Counsel determined the agency cannot…
Read more DOJ directs CFPB to ask Congress for moneyThe US Consumer Financial Protection Bureau is seeking answers to questions around bank fees and customer authorization as it reshapes a rule governing personal-finance information after JPMorgan Chase…
Read more CFPB seeks comments on bank fees as consumer-data rule reworkedEmbedded finance and automated lending services are under threat as policy and regulatory changes continue under the Donald Trump administration. After nearly seven months, effects from the changes…
Read more Embedded finance changing along with CFPBThe Consumer Financial Protection Bureau today fined Navy Federal Credit Union for illegally charging customers overdraft fees, calling it the largest penalty the agency has levied against a…
Read more Navy Fed to pay $95M for charging illegal overdraft feesThe Consumer Financial Protection Bureau fined VyStar Credit Union $1.5 million today for the botched rollout of a new online banking system, which left clients unable to access…
Read more CFPB fines VyStar Credit Union $1.5M for ‘bungled’ platform rolloutLAS VEGAS — The Consumer Financial Protection Bureau Director Rohit Chopra hopes the financial services industry moves away from screen scraping although its Oct. 22 Section 1033 Open…
Read more CFPB director favors ‘the end of screen scraping’Banks should look to their core providers to ensure they have the API frameworks to be compliant with this week’s Consumer Financial Protection Bureau ruling on open banking. …
Read more Core providers can help FIs prepare for open bankingExperts are assessing the effects of the Personal Data Right rule on consumers, competition and innovation following the Consumer Financial Protection Bureau’s announcement of the finalized rule. …
Read more Final CFPB open banking rule to force innovationGoldman Sachs Group Inc. and Apple Inc. will pay more than $89 million to resolve a long-running investigation into their credit-card joint venture after the top US consumer…
Read more Goldman, Apple to pay $89M after CFPB card probeUS banks will now have to give customers access to their financial data after the top consumer watchdog finalized a long-awaited rule aimed at fueling more competition for…
Read more US banks prepare for new era of consumer financial data sharingTD Bank was ordered to pay $28 million in fines by the Consumer Financial Protection Bureau, which ruled the bank had shared inaccurate information about its customers to…
Read more CFPB fines TD Bank $28MThe Consumer Financial Protection Bureau is expected to finalize its Section 1033 regulation on open banking this fall, and financial institutions are weighing in on the standardization. As…
Read more FIs weigh in on US open banking regulationThe Consumer Financial Protection Bureau is facing additional challenges that call into question the legality of the bureau’s funding. The Supreme Court upheld the CFPB’s funding mechanism in May. In several recent lawsuits, companies sued by the…
Read more CFPB funding under new scrutiny | Bank Automation NewsThe Consumer Financial Protection Bureau has once again made it clear that new AI- and machine learning-based technologies are held to the same consumer protection regulations as established technologies. Lenders…
Read more CFPB probes emerging AI-based tech | Bank Automation NewsOpen banking regulation is quickly approaching but financial institutions are asking the Consumer Financial Protection Bureau to extend the timeline for implementation. FIs are expected to have an…
Read more Larger FIs may need more time to implement open banking | Bank Automation NewsFifth Third Bank applied legacy practices to its digital account opening process, which has led to regulatory scrutiny. The Consumer Financial Protection Bureau alleged that the Cincinnati-based bank…
Read more Fifth third must invest in tech to manage regulatory risk | Bank Automation NewsThe Consumer Financial Protection Bureau proposed an interpretive rule affecting earned wage products, or paycheck advance products, ensuring that employees are aware of costs and fees for these…
Read more CFPB proposes earned wage access rule | Bank Automation NewsFifth Third Bank was fined $15 million by the Consumer Financial Protection Bureau today for allegedly opening fake accounts in their customers’ names from an existing 2020 lawsuit.…
Read more Fifth Third, CFPB settlement a positive for bank, analyst says | Bank Automation News
