On Nov. 5, 2024, the Federal Trade Commission (FTC) filed a lawsuit against Dave, Inc., a U.S. fintech company that offers short-term cash advances through a mobile banking application. The
Continue Reading FTC Alleges Fintech Dave, Inc. Deceived Consumers
On Oct. 22, 2024, the CFPB issued a final rule that will require covered financial institutions to provide consumers and authorized third parties with access and portability options for their
Continue Reading CFPB Issues Personal Financial Data Rights Rule
On May 16, 2024, the U.S. Supreme Court held 7-2 in Consumer Financial Protection Bureau v. Community Financial Services Association of America (CFSA) (Docket No. 22-448) that the CFPB’s funding
Continue Reading Supreme Court Holds That CFPB’s Funding Is Constitutional, Clearing Way for Rulemaking Agenda
On April 4, 2024, the CFPB issued a report titled “Banking in Video Games and Virtual Worlds” that examines the financial and privacy risks to consumers in online video gaming
Continue Reading CFPB Releases Report Highlighting Financial and Privacy Risks in Online Video Gaming Marketplaces
On April 16, 2024, the CFPB issued a revised rule aimed at streamlining its procedures for designating nonbank covered entities for supervision. The CFPB said the revised procedures “reflect changes
Continue Reading CFPB Streamlines Nonbank Supervisory Designation Procedures![cybersecurity[1]](https://consumerprotection.gtlawplatform.com/wp-content/uploads/sites/48/2022/02/cybersecurity1.jpg)
On April 2, 2024, CFPB Director Rohit Chopra delivered prepared remarks at a gathering hosted by the White House Office of Science and Technology Policy. Director Chopra’s remarks centered on
Continue Reading CFPB Signals New FCRA Rules Targeting Data Brokers Are Ahead
On March 27, 2024, the CFPB issued a circular warning remittance transfer providers that false advertising about the cost or speed of sending remittance transfers may violate federal law, including
Continue Reading CFPB Warns Remittance Transfer Providers About Deceptive Advertising and Marketing Practices
On March 13, at the Financial Data Exchange Global Summit, CFPB Director Rohit Chopra delivered a keynote address that focused on “the role of standard setters and standard-setting” as the CFPB pushes towards finalizing is its proposed Personal Financial Data Rights Rule.
Continue Reading Setting the Standard: CFPB to Codify Attributes for Standard-Setters Before Finalizing Personal Financial Data Rights Rule
On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rule intended to limit late payment fees on credit cards issued by the largest credit card issuers. The
Continue Reading CFPB Unveils Final Rule Banning ‘Excessive’ Credit Card Late Fees