Category : Consumer protection laws

Carrington Mortgage Services Enters into Settlement with the Consumer Financial Protection Bureau
Consumer protection laws Mortgage News

Carrington Mortgage Services Enters into Settlement with the Consumer Financial Protection Bureau

Fintech News Desk
Carrington Mortgage Services is proud to have helped more than 134,000 consumers obtain relief during the COVID pandemic and, despite its business decision to settle, maintains that the CFPB’s position ignored key facts and the law Carrington Mortgage Services, LLC (Carrington) agreed to settle with the Consumer Financial Protection Bureau......
Australia Tightens the Competition and Consumer Act with Stricter Penalties
Compliance management Consumer protection laws Featured

Australia Tightens the Competition and Consumer Act with Stricter Penalties

Sudipto Ghosh
Last week, the Australian lawmakers passed the Treasury Laws Amendment Bill 2022 to strengthen the existing  Competition & Consumer Act 2010. The new amendments to CCA 2010 would now attract harsher penalties for companies that indulge in unfair practices with the consumers and small businesses. Corporations found to contravene the......
Consumer protection laws News Risk Management

Checkout.com Launches Fraud Detection Pro To Combat Rise In Online Fraud

Fintech News Desk
Checkout.com, the cloud-based payments service provider, today announces the next evolution in the fight against fraud with Fraud Detection Pro, a fully flexible solution used by businesses such as Curve and Delivery Hero to solve the rising problem of online payments fraud and optimise revenues. As the trend of consumers......
Consumer protection laws E-commerce News

New Visa Reports Underscore Importance Of Cybersecurity Amid Shifting Threats

Fintech News Desk
Visa Inc., the world leader in digital payments,  shared an updated look at how fraud has evolved since the height of the pandemic, with criminals simultaneously targeting online and offline vulnerabilities as our daily lives return to a blend of in-person and e-commerce experiences. “As in-person commerce returns to pre-pandemic......
Fintech Web Ads Should Comply with Federal Consumer Finance Protections
Compliance management Consumer protection laws Fintech Primers

Fintech Web Ads Should Comply with Federal Consumer Finance Protections

Sudipto Ghosh
Are fintech marketers overlooking Consumer Finance laws? Would it cost fintech money and reputation if they were found to be neglecting, or worse, exploiting the gaps in way fintech web ads are monitored? In this article, we have highlighted the reasons why CFPB had to sternly warn fintech web ads......
CFPB and Justice Department Caution Auto Finance Companies about Servicemember Protections
Consumer protection laws Featured

CFPB and Justice Department Caution Auto Finance Companies about Servicemember Protections

Fintech Staff Writer
The Department of Justice and the Consumer Financial Protection Bureau (CFPB) issued a joint letter las week, reminding auto finance companies of their responsibilities to recognize important legal protections for military families under the Servicemembers Civil Rights Act (SCRA). While servicemembers have the same rights as non-military borrowers, the SCRA......
Players Health Launches Breakthrough Sports Insurance Product on Socotra’s Modern Policy Core Platform
Compliance management Consumer protection laws Credit Bureaus Featured

Latest Advisory to Protect Privacy When Companies Compile Personal Data

Fintech Staff Writer
Advisory affirms that “permissible purposes” are required to use and share personal data linked with credit reports and background reports Today, the Consumer Financial Protection Bureau (CFPB) issued a legal interpretation to ensure that companies that use and share credit reports and background reports have a permissible purpose under the......
CFPB Seeks Ban Against Operator of Student Loan Debt Relief Scam Reboot
Compliance management Consumer protection laws Featured Insights

CFPB Seeks Ban Against Operator of Student Loan Debt Relief Scam Reboot

Fintech Staff Writer
Today the Consumer Financial Protection Bureau (CFPB) took action against the owner of a student-loan debt relief company for allegedly withdrawing hundreds of thousands of dollars from student borrowers’ bank accounts, without authorization. The CFPB alleges that Frank Gebase, Jr. controlled a company that took the borrowers’ money after obtaining......
CFPB Acts to Protect the Public from Black-Box Credit Models Using Complex Algorithms
Compliance management Consumer protection laws Featured

CFPB Acts to Protect the Public from Black-Box Credit Models Using Complex Algorithms

Sudipto Ghosh
Companies relying on complex algorithms must provide specific and accurate explanations for denying applications The Consumer Financial Protection Bureau (CFPB) confirmed that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or taking other adverse actions, even if the creditor is......
Future FinTech and China Foundation of Consumer Protection Begins Trial Operation of Blockchain Technology System
Blockchain Consumer protection laws News

Future FinTech and China Foundation of Consumer Protection Begins Trial Operation of Blockchain Technology System

Fintech News Desk
Future FinTech Group Inc., a leading blockchain-based e-commerce business and a fintech service provider, announced that its wholly-owned subsidiary Cloud Chain Network and Technology (Tianjin) Co., Ltd. (“Cloud Chain Network”, formerly known as Chain Cloud Mall Network and Technology (Tianjin) Co., Limited) and the Anti-Counterfeiting Committee of the China Foundation......
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