Tech groups sue US CFPB to block rule on payment apps, digital wallets
Two technology trade groups sued the U.S. Consumer Financial Protection Bureau on Thursday to block a new rule giving the regulator supervisory authority over payment apps and digital wallets from large non-banks.
Trade associations sue US CFPB over payment supervision
The trade groups argue that Congress did not empower CFPB to supervise large non-banks offering consumer financial services.
US consumer finance watchdog sued for treating digital wallets like banks
TechNet and NetChoice have sued the Consumer Financial Protection Bureau, challenging a rule that gives the regulator more power over large payment platforms.
Tech Groups Sue to Block CFPB Rule Targeting Apple, Google (2)
A pair of trade groups representing Facebook parent Meta Platforms Inc., Apple Inc., and Google parent Alphabet Inc. sued to block a Consumer Financial Protection Bureau rule that’s set to bring those companies’ payment operations under the agency’s supervision.
US CFPB fines Cash App-parent Block over insufficient fraud protection
The Consumer Financial Protection Bureau on Thursday ordered payments firm Block to pay a penalty, citing fraud and weak security protocols on its mobile payment service Cash App.
CFPB orders Cash App parent Block to pay $175M for fraud failures
The Consumer Financial Protection Bureau ordered Block (NYSE:SQ) to pay restitution of up to $120M and a penalty of $55M over alleged weak security protocols for its Cash App, the agency said on Thursday.
Capital One sued by CFPB for allegedly cheating customers out of $2 billion
The Consumer Financial Protection Bureau (CFPB) is suing Capital One, alleging the bank illegally misled customers by not ...
Capital One allegedly cheated customers out of $2 billion in interest, CFPB claims
The CFPB is suing Capital One for allegedly misleading consumers about its offerings for high-interest savings accounts.
CFPB sues Capital One alleging it cheated customers out of over $2 billion in interest
Despite its relatively low interest rate, the CFPB alleged, the 360 Savings account was advertised as a high-interest savings ...
KTLA1mon
Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees
Some banks and banking trade groups are suing the Consumer Financial ... according to data from the CFPB and bank public records. Currently, there is no cap on the overdraft fees that banks ...
bankingdive4d
CFPB sues Capital One over $2B in unpaid interest to customers
The agency accused Capital One of obscuring a new, higher-paying savings product from some legacy savings account holders.
Becker's Hospital Review9d
Groups sue to block CFPB's medical debt credit reporting ban
Trade groups file lawsuit against CFPB over new rule banning medical debt from credit reports, arguing it exceeds statutory authority.
American Banker9d
Debt collectors sue the CFPB for 'overreach' on medical debt
Debt collection trade group ACA International and Specialized Collections Systems, a Houston-based debt collector, filed a ...