The CFPB is permanently banning BloomTech from consumer lending activities and its CEO, Austen Allred, from student lending for a period of 10 years.
In a shot across the bow to the buy now, pay later (BNPL) industry, the U.S. Consumer Financial Protection Bureau (CFPB) today issued a report suggesting that companies like Klarna and Afterpay, which
Today’s weather may be harsh, but the next phase of cyrpto is coming. Those who can inspire regulatory confidence will be better positioned to be on its leading edge.
Payment fraud is going mainstream, and anyone with an internet connection can join in.
BNPL services offer customers accessibility and flexibility for payments, but unregulated services mean people can unintentionally put their financial health at risk.
When the consumer opens an account and hits savings milestones for products they want to buy from their favorite brands, they can receive cash contributions from the brands.
Buy now, pay later (BNPL) is an old form of payment that is new again in a big way. And that could mean trouble for BNPL fintechs that are just getting to know the world of lending.
RSA Security has spun out its fraud and risk intelligence business into a standalone company called Outseer that will double down on payment security tools amid an “unprecedented” rise in
The Biden administration must clarify current laws pertaining to AI and machine learning models — how we will evaluate use by private actors and how we will govern AI usage within our systems.
Consumer fintech adoption in the U.S. lags well behind much of Europe, where forward-thinking regulation has sparked an outpouring of innovation in digital banking services and infrastructure.
In a move to correct the imbalance of power between technologically sophisticated corporations and the lawmakers who regulate them, presidential candidate Senator Elizabeth Warren is proposing that Co
Can subscriptions and everyday payments be used to help build or rebuild a credit score? The Los Angeles-based Grow Credit thinks so. The service, which launched earlier this month, is one of the slew
There’s another battle brewing in Washington, though it may not matter all that much to the many venture-backed online lending companies that sprang into existence in the wake of post-crisis reg
An obscure request for comments on regulatory standards, released by the Office of the Comptroller of the Currency (OCC) last March, has since evolved into a complex turf war between the states and Wa
Online payment processing startup Dwolla has been hit with a $100,000 penalty by the Consumer Financial Protection Bureau (CFPB). The CFPB, a government agency, said in a consent order that Dwolla mis