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Consumer Financial Protection Bureau (CFPB) Fund Transfers

GeoDataVision

Electronic Funds Transfers-what you need to know when using cash applications such as Venmo

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Visit https://compliance911show.com for more episodes. Len and Dean focus on Electronic Funds Transfers, particularly person-to-person (P2P) payment apps like Venmo, Apple Pay, and Zelle. Dean elaborates on the December...more

Paul Hastings LLP

CFPB Takes Steps to Supervise Digital Payments Apps

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On November 7, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule that would allow it to exercise its supervisory authority over larger nonbanks offering digital consumer payment applications, such...more

Shipkevich PLLC

CFPB Proposes New Rule with Continued Significant Focus on Payments Space

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On November 7, 2023, the Consumer Finance Protection Bureau (“CFPB”) proposed a new rule that calls for federal regulatory oversight of large nonbank companies that offer digital wallets and payment apps to consumers. The...more

Seward & Kissel LLP

[Webinar] FinTech Forum: Emerging Trends in the Legal and Regulatory Landscape - May 18th, 1:30 pm - 5:30 pm ET

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Seward & Kissel and The Berkeley Center for Law and Business invite you to the inaugural FinTech Forum, which will be held Thursday, May 18, 2023. The event will highlight emerging trends in the legal and regulatory...more

Ballard Spahr LLP

Trade group urges CFPB not to impose liability on banks for fraudulent P2P payments

Ballard Spahr LLP on

The American Bankers Association has sent a letter to CFPB Director Chopra in which it urges the CFPB not to shift liability to banks for peer to peer (P2P) payments using an online-money transfer platform in which the...more

Ballard Spahr LLP

Director Chopra goes on the record with media

Ballard Spahr LLP on

Director Chopra gave interviews this week to several news reporting outlets including American Banker, Law 360, Politico, and Bloomberg.  Below are some of highlights of the interviews as reported by those outlets, several of...more

Wiley Rein LLP

Wiley Consumer Protection Download (November 29, 2021)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper

CFPB Updates Electronic Fund Transfers FAQs

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On June 4, the Consumer Financial Protection Bureau (CFPB) issued a frequently asked question and answer guide. Regulation E, in part, establishes limitations on a consumer’s liability and requires investigations of...more

Troutman Pepper

CFPB Investigating Venmo’s Funds Transfer and Debt Collection Policies

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In a recently filed Form 10-K, PayPal Holdings, Inc. (PayPal) announced that it received a Civil Investigative Demand (CID) from the Consumer Financial Protection Bureau (CFPB) on January 21 “related to Venmo’s unauthorized...more

Goodwin

CFPB Investigating Digital-Payment Company’s Collection Practices

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​On February 5, 2021, a digital-payment company disclosed in a filing with the Securities Exchange Commission (SEC) that they received​ a Civil Investigative Demand (CID) from the Consumer Financial Protection Bureau (CFPB)...more

Ballard Spahr LLP

Treasury’s fintech report recommends changes directed at payments

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A portion of the Treasury’s report entitled “A Financial System That Creates Economic Opportunities, Nonbank Financials, Fintech, and Innovation,” focuses on payments.  ...more

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