- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The CFPB is taking a fresh look at hardships for financial and consumer credit firms caused by a 2016 prepaid rule. The Bureau has also proposed updates to the rule.
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Data brokers have been getting away with selling Americans’ personal and financial data without adequate protections, an illegal practice that a new rule proposed by the Consumer Financial Protection Bureau will intend to stop, CFPB Director Rohit Chopra said.
Big Tech digital payment apps will be subjected to increased oversight and requirements–similar to that of banks and credit unions–under a finalized rule by the Consumer Financial Protection Bureau.
Navy Federal Credit Union will pay a $15 million fine and return $80 million in “surprise” overdraft fees to its members to resolve an enforcement action from the Consumer Financial Protection Bureau.
