The Consumer Financial Protection Bureau today finalized a policy under which companies may request “no-action” letters indicating that bureau staff have “no present intention” to initiate enforcement or supervisory actions based on a particular product or aspect of a product.
A responsibly regulated fintech industry is essential for ensuring consumer protection and allowing for greater cooperation between banks and alternative financial service providers, ABA President and CEO Rob Nichols said in an op-ed in American Banker today.
Marketplace lenders are already winning your customers, bankers say. Here’s how to respond.
Everyone uses a username and password; large shares use out-of-band authentication and challenge questions.
A new report from the Federal Trade Commission outlines several risks related to discrimination for companies using “big data” to make decisions about credit, employment and marketing.
Three in 10 bank customers used mobile banking on a weekly basis in 2015, exceeding for the first time the 24 percent who visit branches weekly, according to a new report from Javelin.
ABA filed a friend of the court brief yesterday in an appeal of the Federal Communications Commission’s recent order regarding the Telephone Consumer Protection Act.
ABA recently worked with Verizon Communications, Inc. to ensure that banks would be able to send data breach notifications, suspicious activity alerts, and other time-sensitive messages to their customers over Verizon’s network, without the bank having first to obtain the prior express consent of the customer. In July, the Federal Communications Commission released an order
A small group of state attorneys general sent a letter to the executives of major card companies on Monday urging them to implement chip-and-PIN technology in credit and debit cards, arguing that it would offer greater protection from fraud. However, the letter — signed by nine AGs — acknowledges that a PIN-based system could not