Payment Companies in Regulators’ Scope
🇺🇸 US CFPB recently reminded consumers that funds parked in payment apps are not subject to deposit insurance. The growth of non-bank...
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Frank Tian
- Mar 10, 2023
- 1 min
💸 16 Junk Fee Practices per CFPB
In early 2022, CFPB launched an initiative to target excessive fees charged in consumer finance. On March 8, 2023, the agency published a...
Frank Tian
- Jan 31, 2023
- 1 min
💳 CFPB Caps Card Late Fee
The details of card late fee rule-making are out. 👇 CFPB proposes an $8 cap, Within 25% of the required payment, No automatic annual...
Frank Tian
- Jun 11, 2022
- 1 min
CFPB on Black-Box Models
Your model is complicated, But you still need to explain it. That is the latest reminder from CFPB. ECOA mandates lenders to explain...
Frank Tian
- Jun 8, 2022
- 1 min
CFPB on Innovation
Innovation is great, but Competition is the launch pad. That is the message from the regulator CFPB Who just renamed one of its key...
Frank Tian
- May 10, 2022
- 1 min
An Active CFPB
A dormant authority being activated by the regulator CFPB invokes the authority to examine non-bank companies. This move clearly targets...
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