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OCC and Fed Fine American Express $350 Million Over AML Deficiencies
American Express faces a $350M penalty for compliance failures, signaling a period of stricter oversight for consumer credit providers.
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Amex dinged by Fed, OCC
Amex faces a $350 million fine for compliance failures, signaling a stricter regulatory environment for all payment and credit providers.
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Fed, OCC order Amex to overhaul AML controls, fine $350M
Federal regulators fine American Express $350M over money-laundering failures, signaling tighter compliance for the consumer credit industry.
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Amex dinged by Fed, OCC; must pay $350M for AML failures
American Express faces $350 million in regulatory fines over anti-money laundering failures, signaling tighter compliance checks for consumer financing.
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home-improvement
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HUD probes Wells Fargo over ‘racialized’ lending
HUD is investigating Wells Fargo’s targeted lending programs, signaling a tighter regulatory environment for consumer credit and fair lending practices.
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Treasury taps data to fend off fraud
The U.S. Treasury is leveraging AI and real-time data to stop payment fraud, setting a new standard for security in the lending and payments industry.
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Singapore central bank issues risk rules on banks' AI use
Singapore's new AI audit requirements for banks signal a global shift toward stricter oversight of automated consumer lending decisions.
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OFAC Warns Sanctions Risk Can Hide Deep in the Payment Chain
New OFAC warnings mean your business could face frozen funds if payment providers use non-compliant routing paths.
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Wells Fargo HUD probe signals risk for race-based lending
A federal probe into Wells Fargo’s minority-focused lending programs signals new legal risks for race-based incentives in consumer credit.
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Fed consolidates bank supervision structure
The Federal Reserve is tightening its bank oversight structure, a move that could lead to more conservative lending habits from your financing partners.
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Fed’s Bowman Decries ‘Antiquated’ Analysis Blocking Rural Bank Mergers
Proposed changes to bank merger rules could reshape the landscape for local lenders and the consumer credit they provide to your customers.
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FDIC's Hill defends supervision and merger reforms
FDIC reforms aim to stabilize the banking sector through more transparent supervision and updated merger guidelines.
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Fed's Bowman unveils major overhaul of its bank supervision
The Federal Reserve's plan to relax bank oversight thresholds could lead to more stable and accessible consumer financing options for retailers.
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medical
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FTC Chairman Urges Healthcare Services Companies to Ensure Price Transparency
The FTC warns healthcare providers to provide clear pricing to prevent patient sticker shock and debt traps.
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home-improvement
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In oversight preview, Dems demand FHFA's Pulte testify
Political tension at the FHFA could impact home equity lending availability for home improvement customers.
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US Companies on Pace to Pay $1.4 Billion in Privacy Settlements
Retailers face a $1.4 billion surge in privacy settlements as tracking pixels on digital storefronts trigger new legal risks.
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OppFi’s Banking Ambitions Opposed By Senate Democrats
Senators Warren and Van Hollen challenge OppFi’s bank acquisition, citing concerns over high-interest lending and regulatory workarounds.
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ICBA urges court to rein in OCC over trust charters
Community banks sue the OCC to block non-traditional firms from getting national charters, potentially impacting future fintech lending options.
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Pricing tactics come under scrutiny in the age of AI
As AI-driven dynamic pricing faces a consumer and regulatory backlash, retailers must prioritize transparency to protect their financing programs.
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Fed extends deadline for Regulation O comments
The Federal Reserve gives stakeholders more time to weigh in on insider lending rules, signaling potential shifts in bank credit management.
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Northern Trust begins search for CFO to succeed Fox
Fintech advocates join state regulatory advisory group, signaling a new era of oversight for non-bank consumer financing.
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OCC Grants Clean Bill of Health to 13 Banks in Latest Community Lending Audit
Federal regulators cleared 13 banks for community lending compliance, ensuring continued stability for consumer credit access.
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Maryland Gov. Wes Moore Tees Up State Leaders’ AI Regulation Plan
A new bipartisan coalition of governors is developing state-level AI regulations that could impact automated consumer credit and data usage.
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Warren, Van Hollen pressure OppFi to ditch bank deal
Senate Democrats are pressuring nonbank lender OppFi to drop bank partnership plans, signaling a crackdown on high-interest consumer credit models.
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CFPB Proud to Support the National Strategy for Financial Literacy
The CFPB joins a national push for financial literacy, signaling a move toward higher transparency and customer awareness at the point of sale.
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home-improvement
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Pulte's FHFA to ease credit data rule for Fannie, Freddie
FHFA signals a shift toward modernized credit reporting rules, potentially lowering barriers for home buyers and home improvement spenders.
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NYC Launches Nation’s First Municipal Click-to-Cancel Rule
NYC merchants must now offer simple, one-click cancellations for all recurring subscriptions and memberships to comply with new consumer protection laws.
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New CDFI info collection would eliminate race as criteria
A new Treasury proposal could change how community lenders qualify for funding, potentially impacting 'second-look' financing options for retailers.
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Trump says IG report means Powell must be 'forced to resign'
Increased political pressure on Federal Reserve leadership could trigger volatility in consumer lending rates and credit availability.
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Fed finalizes stress-test changes
New Federal Reserve rules aim to stabilize bank capital requirements, potentially leading to more consistent consumer credit availability for retailers.
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Fed & FDIC cite 'significant uncertainty' in Amex living will
Federal regulators express doubt over American Express's emergency liquidation plan, signaling continued scrutiny of major consumer credit providers.
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Fed finalizes stress test reforms, takes comment on scenarios
New Federal Reserve stress test rules aim for stability, potentially preventing sudden credit freezes for consumer financing.
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Senate sends penny bill supported by banks to Trump's desk
New legislation allows retailers to round cash transactions to the nearest nickel, signaling the beginning of the end for the penny at the point of sale.
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SEC urges rigor as private credit market expands
The SEC is tightening oversight on the $1.7 trillion private credit market, potentially impacting how consumer finance programs are funded and managed.
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Bowman: AI cyber threats need 'proactive risk management'
Federal Reserve Governor Bowman warns that banks must tighten AI security, signaling potential shifts in how consumer financing platforms manage data and fraud.
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5G Funding and its Owner Sued By SEC Over “MCA” Business
The SEC sues 5G Funding for allegedly misrepresenting its Merchant Cash Advance business, signaling increased scrutiny on high-risk business lenders.
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Apple lawsuit becomes class action
A class-action lawsuit over Apple Pay fees and hardware restrictions could break Apple's mobile wallet monopoly and reshape payment costs for merchants.
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The FDIC's fintech certifications end where partnership risks begin
New FDIC certifications for fintechs aim to de-risk bank partnerships, but operational risks for merchant financing programs remain.
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SEC Calls for Greater Rigor in Valuing Private Credit Assets
The SEC is cracking down on private credit valuations, potentially impacting how non-bank lenders fund consumer financing programs.
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Fed watchdog flags gaps in security incident oversight
A new Fed audit reveals security oversight gaps, signaling a likely increase in compliance pressure for lenders and their merchant partners.
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OCC's Gould limiting examiner time at banks
The OCC is capping the time examiners spend inside banks, potentially streamlining operations for national consumer lenders.
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Another judge rejects Trump's attempt to halt CFPB funding
Federal courts uphold CFPB funding, ensuring the consumer credit watchdog maintains its enforcement and oversight authority over the financing industry.
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Fed proposes stablecoin rules
The Federal Reserve is drafting rules to turn stablecoins into a safe, mainstream payment method for businesses and households.
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US banks invited to join Apple Pay class lawsuit
A class-action lawsuit targeting Apple’s mobile wallet monopoly moves forward, potentially opening iPhones to competing payment and financing apps.
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Fed proposes stablecoin rules under GENIUS Act
The Federal Reserve’s new stablecoin proposal could pave the way for faster, cheaper digital payment settlements for retailers.
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Fed Prepares to Lift Thresholds That Trigger Stricter Bank Oversight
The Federal Reserve considers easing oversight on mid-sized banks, potentially sparking more competition in the consumer lending market.
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Fed proposes stablecoin rules
The Federal Reserve’s new stablecoin proposal aims to ensure digital payments remain pegged to the dollar, reducing risk for merchants and consumers.
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House Dems seek extended comment period on Trump CRA rewrite
House Democrats are requesting more time to review a sweeping 400-page overhaul of bank lending rules that could impact consumer credit availability.
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Bank examiners already have a good template for regulating AI
Federal regulators are using existing oversight tools to police AI in lending, signaling a crackdown on credit bias and opaque approval algorithms.
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Fed Proposes Stablecoin Reserve and Capital Rules Under GENIUS Act
New Federal Reserve proposals aim to secure stablecoin payments by requiring issuers to back digital assets with strictly regulated cash reserves.
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SBA faces blowback over plan to redefine small business
A proposed SBA rule change could allow larger firms to compete for small business loans, potentially shifting the landscape for merchant capital.
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AGs warn Congress that AI threatens the financial system
State attorneys general are calling for federal action to regulate AI in finance, targeting autonomous systems that could impact consumer lending and fairness.
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Democrats reintroduce bill to curb private equity
Reintroduced legislation targets private equity practices, potentially impacting the capital structures of retailers and consumer finance providers.
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How to Pay Off an MCA With an SBA Under The New Rules Effective Oct 1
New SBA guidelines effective October 1 impose strict waiting periods for businesses looking to refinance high-cost merchant cash advances.
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Court Shields Federal Credit Unions From Illinois Swipe Fee Law
A federal court ruling exempts federal credit unions from Illinois' swipe fee ban, creating new hurdles for retailers expecting transaction cost relief.
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State Bank Regulators Give Examiners a Road Map for AI Oversight
New state-level guidelines for AI oversight will force transparency and stricter compliance on consumer lending partners.
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Banks should be required to explain the reason for an account closure
New regulatory proposals aim to end 'silent' bank account closures, giving businesses more transparency when financial relationships are terminated.
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Nuvei Case Turns Chargebacks Into an FTC Warning Sign
The FTC’s crackdown on Nuvei signals a shift toward stricter merchant monitoring and lower tolerance for high chargeback rates across the industry.
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Judge adds credit unions to Illinois swipe fee injunction
A federal judge has expanded the block on Illinois’ swipe fee ban to include credit unions, stalling the state's attempt to lower merchant processing costs.
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Merchants call card-fee pact unconstitutional
Walmart and other major retailers challenge a $30 billion swipe-fee settlement, arguing it fails to provide meaningful relief for merchants.
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OCC Updates Cyber Audit Rules for Banks
New federal bank audit updates signal a stronger focus on cybersecurity for the lenders powering your customer financing programs.
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Fincen moves to rewrite banks' due diligence requirements
FinCEN's upcoming overhaul of due diligence rules will force lenders to tighten identity verification and business ownership checks.
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Digital Wallets Bring New Rules for Consumer Protection
New regulatory focus on digital wallets and AI-driven fraud means retailers must prepare for stricter security standards in mobile payments.
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OCC Opens Three Bank Doors to Stablecoins and AI Agents
The OCC’s approval of three tech-focused trust banks paves the way for faster, AI-driven payment settlements and stablecoin integration in retail.
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California Governor Mobilizes Expert Panel to Strengthen AI Safety Laws
California's new push for AI regulation signals upcoming transparency and security requirements for consumer financing algorithms.
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FDIC’s Hill pushes faster merger review process
The FDIC is considering faster merger approvals and new rules to protect the lending models used by many consumer financing providers.
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Fed's Bowman previews new twists in stress test reforms
Federal Reserve Governor Michelle Bowman outlines reforms to bank stress tests that could lead to more stable and predictable consumer lending environments.
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Fed Deadline Passes as Payment Access Debate Continues
The battle over Federal Reserve access could reshape the cost and speed of consumer financing for retail operators.
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Subprime auto lender agrees to $710M settlement with states
Credit Acceptance Corp. to pay $710 million in debt relief and restitution following a multi-state probe into predatory subprime auto lending.
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FDIC Proposes Fast Track for Bank Merger Reviews
New FDIC rules aim to speed up bank mergers, a move that could reshape the lender landscape and the financing programs available to retailers.
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House Votes to Modernize Bank Oversight and Kill the Penny
New House bill aims to modernize bank oversight with better technology, potentially speeding up innovation and reducing red tape for consumer lenders.
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House Passes Bill to Give Local Police More Tools Against Elder Financial Fraud
New federal legislation empowers local police to investigate senior financial fraud, signaling a tighter regulatory environment for merchants serving older adults.
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FDIC proposes faster merger reviews, preemption for state banks
New FDIC rules could stabilize cross-state lending and speed up bank mergers, ensuring more consistent financing options for retailers and their customers.
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State regulators float AI framework for banks, examiners
New state-level guidance for bank examiners signals a crackdown on how AI-driven lenders manage risk and fair lending compliance.
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CFPB director-designate Brian Johnson clears Senate Banking
Brian Johnson moves closer to leading the CFPB, signaling potential shifts in federal oversight for consumer credit and point-of-sale financing.
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automotive
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FleetCor enters $100M settlement
Corpay to pay $100M settlement over hidden fuel card fees, signaling a major FTC crackdown on lack of transparency in business payment solutions.
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tutoring
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Scammers fake student identities to siphon aid payments
FinCEN warns of a rise in student identity fraud, signaling a need for tighter identity verification in the education and tutoring sectors.
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Synapse victims look to small-claims court
As federal relief for the Synapse fintech collapse stalls, users turn to small-claims court to recover trapped funds from partner banks.
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Clarity Act bill stumbles
Federal crypto regulation stalls in the Senate, leaving retailers in a holding pattern for stablecoin payment integration and compliance.
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State bank examiners get a playbook for inspecting AI
State regulators issue a new AI audit roadmap, signaling tighter oversight for the technology powering consumer credit approvals.
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House Bills Aims to Give Financial Regulators Better Tech
New legislation moves financial regulators toward high-tech oversight, signaling a more data-intensive future for consumer lending compliance.
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UK Shifts AML Focus to Disrupting Illicit, Tech-Enabled Networks
The UK is investing £500M to disrupt tech-enabled financial crime, signaling tighter compliance for digital lenders and merchants.
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Visa, Mastercard settle Grubhub case
Visa and Mastercard settle a major swipe-fee lawsuit with Grubhub, signaling a continued legal shift in payment processing costs for retailers.
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Trade groups knock BNPL rules
New York’s proposed BNPL licensing rules could lead to tighter credit approvals and higher costs for retail merchants.
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Treasury Rethinks AML Rules for Banks That Know Their Customers
Proposed Treasury updates to AML rules could reduce compliance friction and speed up approvals for consumer financing and retail lending.
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home-improvement
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Fannie servicers can contact consumers about MI cancellations
FHFA orders Fannie Mae to notify homeowners when they can stop paying mortgage insurance, freeing up monthly cash flow for home projects.
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home-improvement
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Matt Jones nominated by White House to be FHA commissioner
The White House taps FHA insider Matt Jones to lead the agency, signaling policy continuity for the housing and home improvement markets.
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Enova Scraps Grasshopper Bank Acquisition After Pressure From State AGs
Enova abandons its bank acquisition bid following intense regulatory scrutiny and pressure from state Attorneys General.
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Amid protesters and a midterm, AI dominates Bessent hearing
Treasury Secretary Bessent signals a new regulatory era for AI in finance, focusing on transparency and fair lending for consumer credit tools.
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Why nonbank lender Enova pulled the plug on buying a bank
Enova drops its bid for Grasshopper Bank, highlighting the growing regulatory hurdles for non-bank lenders seeking banking charters.
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Walmart slams card fee pact, again
Walmart leads a massive merchant revolt against the Visa-Mastercard swipe fee settlement, calling the $30 billion deal inadequate for business owners.
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Merchants call on judge to reject Visa-Mastercard interchange fee settlement
A coalition of 1,000 U.S. merchants is fighting to block a Visa-Mastercard settlement, calling for deeper and more permanent cuts to swipe fees.
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Ez Britton appointed to steer UK open finance blueprint
UK appoints lead for Open Finance blueprint, paving the way for more accurate consumer credit data and higher financing approval rates.
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What banks can expect if Democrats sweep Congress
A Democratic congressional sweep could usher in stricter consumer protection laws and tighter oversight for point-of-sale financing providers.
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Federal Agencies Overhaul Bank Partner Rules to Drive Innovation
New federal guidance targets bank-fintech partnerships, signaling stricter compliance and oversight for consumer financing programs.
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New York tells banks to find their single points of failure
New York regulators are requiring lenders to identify vendor dependencies that could cause systemic outages for merchants and consumers.
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GENIUS Act Pushes Stablecoin Compliance Into Banks’ Back Offices
New stablecoin regulations are forcing banks to upgrade compliance, paving the way for digital tokens to become a standardized consumer payment method.
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Fed, Bowman sued over capital-requirements process
A new lawsuit alleges secret meetings between the Fed and big banks, a move that could delay regulatory clarity and impact consumer lending appetites.
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Regulators propose new guidance on core providers
Federal regulators propose stricter oversight for core tech providers to increase transparency and prevent disruptions in banking and credit services.
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California Starts Regulating the People Who Audit AI
California's new AI auditing laws will force consumer lenders to be more transparent about the algorithms used to approve customer financing.