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2. CFPB expands oversight of digital payments services including ...

   www.aol.com/cfpb-expands-oversight-digital...

   The most popular apps covered by the rule collectively process more than 13 billion consumer payments a year, and have gained “particularly strong adoption” among low- and middle-income users ...

3. Consumer Financial Protection Bureau - Wikipedia

   en.wikipedia.org/wiki/Consumer_Financial...

   The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector.CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, for-profit colleges, and other financial companies operating in the ...

4. Tech groups sue US CFPB to block rule on payment apps ... - AOL

   www.aol.com/news/tech-groups-sue-us-cfpb...

   In announcing the final rule on Nov. 21, the CFPB said it would help give consumers who use big technology companies for processing payments the same protections against fraud, privacy violations ...

5. Durbin amendment - Wikipedia

   en.wikipedia.org/wiki/Durbin_amendment

   The Merchant Payments Coalition (MPC) argued that this rule was unfair as the Durbin amendment required the Federal Reserve to ensure that banks take effective steps against fraud and determine how much of the cost banks should bear themselves. The MPC said that banks should actually have to reduce fraud before receiving more funds.

6. Will CFPB’s $8 cap on credit card late fees encourage late ...

   www.aol.com/finance/cfpb-8-cap-credit-card...

   The CFPB said that, in 2022, late fees accounted for more than 10 percent of the $130 billion issuers charged customers on credit card interest payments and fees. As a result, the agency expects ...

7. Straight-through processing - Wikipedia

   en.wikipedia.org/wiki/Straight-through_processing

   Straight-through processing exists in numerous areas of financial services, such as payments processing. [2] [3] [4]Payments may be non-STP due to various reasons [5] such as missing information, information which is not in a machine "understandable" form (such as name and address rather than a code), or human-readable instructions, e.g.

8. Millions hurt by credit repair firms to share $1.8 billion in ...

   www.aol.com/millions-hurt-credit-repair-1...

   The CFPB said the payments are based on a pro-rata share of fees paid by consumers to CreditRepair.com and Lexington Law, but that the payments might not cover all the fees they incurred.

9. Payment Card Industry Data Security Standard - Wikipedia

   en.wikipedia.org/wiki/Payment_Card_Industry_Data...

   According to Visa's compliance validation details for merchants, level-4 merchant compliance-validation requirements ("Merchants processing less than 20,000 Visa e-commerce transactions annually and all other merchants processing up to 1 million Visa transactions annually") are set by the acquirer. Over 80 percent of payment-card compromises ...