The CFPB’s plan to repeal the Nonbank Registration Rule has divided stakeholders, with industry groups praising reduced compliance costs while…
Upstart’s Q1 results highlight AI-driven loan approvals amid regulatory scrutiny
Upstart’s Q1 2024 results show 92% of loans approved via AI algorithms, with super-prime borrowers making up 32% of originations.…
ValidiFI’s AI-driven fraud prevention meets CFPB compliance with 30% fewer false positives
ValidiFI’s vAccount+ suite, integrated with Early Warning’s real-time payment network, reduces false positives by 30% and boosts transaction approval rates.…
CFPB’s payment app and overdraft rules face congressional pushback
The CFPB’s new rules on payment apps and overdraft fees face opposition in Congress, with the Senate passing a resolution…
Jonathan McKernan’s potential ‘regulatory light’ approach at the CFPB
Jonathan McKernan, nominated for CFPB director, may introduce a ‘regulatory light’ approach, focusing on reducing prescriptive regulations and easing compliance…
Regulatory Shifts: Growing Oversight on Stablecoins and the CFPB
Recent legislative proposals, including one from Rep. Maxine Waters, aim to tighten regulations on stablecoins, with potential implications for the…
Tech industry sues CFPB over ‘chilling’ effect on digital wallets
TechNet and NetChoice have filed a lawsuit against the CFPB, claiming new regulations on digital wallets will hinder innovation. The…
CFPB data reveals BNPL’s growing appeal among credit-constrained consumers
CFPB data shows BNPL loans are popular among younger consumers and those with high credit card debt, with low default…
National Collegiate Student Loan Trusts settle with CFPB over illegal debt collection claims
National Collegiate Student Loan Trusts agree to a $2.25 million settlement with the CFPB for illegal debt collection practices, including…