In 2013, the Consumer Financial Protection Bureau discovered that the six largest U.S credit card issuers had either never reported their customers’ actual monthly payments to any of the major credit bureaus, or they had abruptly stopped doing so altogether.
Efficiency and profitability were the key objectives for digital transformation before the pandemic, but with it came a shift in focus. Business continuity and resiliency are now top priorities as organizations consider their future trajectory. An astonishing 75% of executives believe that embracing digital transformation is essential to achieving success. This drastic shift has never been more apparent!
The financial services industry has seen a drastic shift in traditional payments systems thanks to the emergence of FinTechs. Taking advantage of their technical acumen and customer-centric approaches, Paytechs have become an increasingly relevant presence within the payment space – ranging from payment facilitators and PSPs to networks creating new propositions and tech providers.
The financial services industry has seen a drastic shift in traditional payments systems thanks to the emergence of FinTechs. Taking advantage of their technical acumen and customer-centric approaches, Paytechs have become an increasingly relevant presence within the payment space – ranging from payment facilitators and PSPs to networks creating new propositions and tech providers.
The Consumer Financial Protection Bureau (CFPB) is proposing to revise Regulation Z, for the purpose of ensuring that late fees charged on credit card accounts comply with Truth in Lending Act (TILA) standards by being “reasonable and proportional” to any overdue payments.
In October, the Consumer Financial Protection Bureau (CFPB) initiated a rule-making outline mandated by Section 1033 of Dodd-Frank Wall Street Reform and Consumer Protection Act.
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