Remove Cards Remove Compliance Remove Lending Remove Retail
article thumbnail

CFPB sues Citizens Bank for failing to respond to credit card disputes

Bank Innovation

This week, the Consumer Financial Protection Bureau filed suit against Citizens Bank, alleging violations of the Truth in Lending Act (TILA), including implementing Regulation Z and the Credit Card Accountability Responsibility and Disclosure Act.

Cards 259
article thumbnail

Why Bread Thinks Private-Label Cards Are Ready For Disruption

PYMNTS

The reason private label works so well in stores, Bread CEO and Co-founder Josh Abramowitz told PYMNTS’ Karen Webster, is because they are so well-integrated with the physical retail environments for which they were created. This isn’t the case for retailers born in the online world, Abramowitz contends.

Cards 144
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Another Maryland threat to bank partner model lending

CFPB Monitor

According to the factual allegations in the OCFR’s Charge Letter : The Bank offers in-store retail credit financing as well as store-branded credit cards to Maryland consumers. The Bank retains ownership of the credit accounts and the debtor-creditor relationship with Maryland consumers for the life of the loan account.

article thumbnail

Fintech Deals to Watch: Back to School

Gonzobanker

Then, bad grades came in right as summer party season kicked off, mom and dad took away the car and credit card, and the Venmo transfers came to a screeching halt. Lending Tech With Almost Steady Grades (Even With Rough Semesters). First, there was the drama leading up to the breakup with the rich hottie.

Fintech 171
article thumbnail

Are Point-of-Sale Loans Putting Pressure on Credit Cards?

ABA Community Banking

Q1 2019 TransUnion Industry Insights Report explores latest consumer credit trends Consumer Credit The Economy Feature Lines of Business Retail Banking Financial Trends Customers Revenue Core Systems Cards Fair Lending Consumer Compliance Profitability Feature3.

Cards 40
article thumbnail

FTC and 18 state attorneys general settle action against national retail chain accused of unlawful practices targeting servicemembers

CFPB Monitor

and related entities (collectively, “Harris Jewelry”), a national jewelry retailer that markets and sells military-themed gifts, to resolve their lawsuit which alleged that Harris Jewelry had engaged in unlawful sales and credit practices targeting servicemembers.

article thumbnail

Regulators War on Banking

Jeff For Banks

Oliver Wyman said this in their Impact of Simultaneous Regulatory Proposals in Retail Banking : "The Fed proposes under Reg II to decrease the maximum allowed debit interchange fee from $0.22 + 5 basis points to $0.157 + 4 basis points for issuers above $10 billion in assets. What do regulators think will happen?