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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...
Frank Tian
Jun 16, 20231 min read
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💸 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
Mar 10, 20231 min read
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💳 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
Jan 31, 20231 min read
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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 11, 20221 min read
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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
Jun 8, 20221 min read
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An Active CFPB
A dormant authority being activated by the regulator CFPB invokes the authority to examine non-bank companies. This move clearly targets...
Frank Tian
May 10, 20221 min read
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