PYMNTS
DECEMBER 12, 2019
In the lawsuit, filed in in the United States District Court for the District of Columbia, PayPal said the CFPB rule that requires disclosure for digital wallets and prepaid debit cards places “unreasonable restrictions” on consumers’ abilities to link certain credit products to PayPal accounts.
CFPB Monitor
APRIL 13, 2020
Complaints were received from servicemembers in all 50 states and the District of Columbia, with the largest number of complaints coming from California, Texas, and Florida (states that the OSA pointed out have the largest veteran concentrations). Noteworthy items include: Top Complaints Received from Military Consumers During FY19.
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Independent Banker
OCTOBER 1, 2022
However, the ambiguous legal landscape complicates compliance; 47 states, the District of Columbia and four U.S. Cogent Bank discovered that some merchant credit card providers code transactions in a way that masks what the CRB-related transaction really is in order to claim that they’re compliant. “We in Longview, Wash.
CFPB Monitor
MAY 3, 2021
Since the non-bank entity frequently is a fintech, these arrangements often are referred to as bank-fintech partnerships or marketplace lending arrangements. These speakers consistently conflated payday lending and bank-fintech partnership lending, and ignored correction of this mis-characterization by other witnesses.
CB Insights
OCTOBER 31, 2017
BTCjam, a P2P marketplace launched in 2012 to borrow and lend using bitcoin, announced the company has made “the difficult decision” to close up shop, according to multiple news sources. It did not close because the customer base isn’t there or due to a lack of demand for its lending products. -Kyle Hill, HomeCare CEO. Product: BTCJam.
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