A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.

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October 4, 2024

Top Post

September 26, 2024

On the web

September 18, 2024

Top Post

September 17, 2024

On the web

CFPB Takes Action to Stop Banks from Harvesting Overdraft Fees Without Consumers' Consent

Consumer Financial Protection Bureau

"The Consumer Financial Protection Bureau (CFPB) published guidance to help federal and state consumer protection enforcers stop banks from charging overdraft fees based on phantom opt-in agreements. Phantom opt-ins occur when banks claim they have customers’ consent to charge overdraft fees but there is no proof they actually obtained that consent."

September 13, 2024

On the web

August 28, 2024

Top Post

August 16, 2024

On the web

What Buy Now, Pay Later Lenders Are Doing to Be Upfront With Borrowers

Consumer Financial Protection Bureau

"The CFPB released an interpretive rule in May that explained how some of the existing federal laws and regulations, like the Truth in Lending Act and Regulation Z, apply to Buy Now, Pay Later loans. While not required by law, the public was invited to submit comments on this interpretive rule. The Buy Now, Pay Later industry is responding favorably and constructively."

August 14, 2024

On the web

Agencies Roll out Initiative Making It Easier to Click Unsubscribe Button

The Hill

"The Federal Trade Commission is currently reviewing public comments about a proposed rule to require companies to make it as easy to cancel a subscription or service as it was to sign up for it. The Consumer Financial Protection Bureau is taking on a rulemaking process to require companies under its jurisdiction to let consumers talk to a real person by pressing just one button."

August 7, 2024

On the web

August 2, 2024

On the web

July 25, 2024

On the web

July 23, 2024

Top Post

July 18, 2024

On the web

July 1, 2024

Top Post

On the web

June 25, 2024

On the wires

June 13, 2024

On the web

CFPB Proposes to Ban Medical Bills from Credit Reports

Consumer Financial Protection Bureau

"The Consumer Financial Protection Bureau (CFPB) proposed a rule that would remove medical bills from most credit reports, increase privacy protections, help to increase credit scores and loan approvals, and prevent debt collectors from using the credit reporting system to coerce people to pay."

June 6, 2024

Top Post

CFPB Launches Process to Recognize Open Banking Standards

Consumer Financial Protection Bureau

"The Consumer Financial Protection Bureau finalized a rule outlining the qualifications to become a recognized industry standard setting body, which can issue standards that companies can use to help them comply with the CFPB’s upcoming Personal Financial Data Rights Rule."

June 4, 2024

On the web

May 22, 2024

Top Post

May 17, 2024

On the web

May 16, 2024

Top Post

May 15, 2024

On the web

How the U.S. Chamber Halted the CFPB's Credit Card Late Fees Rule

US Chamber

"On May 10, the U.S. Chamber scored a major win for the business community against federal agencies’ micromanagement of business decisions. The Northern District of Texas granted the Chamber's motion for a preliminary injunction and stayed the Consumer Financial Protection Bureau's (CFPB) credit card late fees rule."

May 14, 2024

On the web

Agencies Announce Inflation-Adjusted Dollar Thresholds for Regulation CC Funds Availability

Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau and the Federal Reserve Board jointly adjusted for inflation dollar amounts relating to the availability of customer funds. These changes in Regulation CC include the minimum amount of deposited funds that banks must make available for withdrawal by opening of business on the next day for certain check deposits as well as the amount of funds deposited by certain checks in a new account that are subject to next-day availability.

May 10, 2024

On the web

May 7, 2024

On the web

April 23, 2024

On the web

Banking in Video Games and Virtual Worlds

Consumer Financial Protection Bureau

"The Consumer Financial Protection Bureau (CFPB) is monitoring markets—regardless of the infrastructure used—where financial products and services may be offered, including video games and virtual worlds."

April 4, 2024

On the web

OCC’s HSU Suggests Requiring Banks, AI Companies to Reimburse Customers for Fraud

ABA Banking Journal

"A new U.K. regulation requiring banks to reimburse customers for losses resulting from push payment fraud “deserves greater discussion and debate” in the U.S., particularly when the fraud is powered by artificial intelligence, Acting Comptroller of the Currency Michael Hsu said...Hsu pointed to the U.K.’s Payment Systems Regulator, which recently issued a rule requiring banks to reimburse customers when criminals trick them to send money to a fraudulent account."

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