Payments

Keating: Customers Need Equal Protection in Financial Marketplace

Customers deserve the same level of protection whether they do business with nonbank payment startups or banks, ABA President and CEO Frank Keating said in an American Banker op-ed today. Keating was responding to arguments by former Treasury Secretary Larry Summers that nonbanks are at a regulatory disadvantage. “Banks provide extensive protections to consumers on all of the products and ...

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CFPB Lawsuit Targets Payment Processors

The Consumer Financial Protection Bureau yesterday announced it had filed a lawsuit against several individuals and companies involved in what it said was a robo-calling phantom debt collection operation.

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