On January 25, 2018, the Consumer Financial Protection Bureau (CFPB) issued the final prepaid accounts rule (which we wrote about here and here) under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z). The final rule, which will now become effective on April 1,…
On August 31, 2016, the Consumer Financial Protection Bureau (CFPB) released its Monthly Complaint Report for August 2016, this month focusing on complaints concerning bank accounts and related services. The report, which compiles data from the CFPB’s complaint database to compare consumer complaints by subject, geography, and company on a…
On September 10, 2014, the Federal Trade Commission (FTC) posted a comment in response to the Consumer Financial Protection Bureau’s (CFPB) request for information regarding the use of mobile banking services and products specifically utilized by economically vulnerable or underserved consumers. After briefly articulating some of the benefits of mobile…
On June 11, as a result of the growing use of mobile banking services across the country, the CFPB announced that it was conducting a request for information into the benefits and consequences of expanding mobile financial services. Its focus is underserved and remote communities, but any actions the CFPB…