The Consumer Financial Protection Bureau (CFPB) has recently issued an interpretive rule that classifies Buy Now, Pay Later (BNPL) lenders as credit card providers. This decision, announced through a press release, mandates that BNPL lenders extend key consumer rights and legal protections typically associated with traditional credit cards. This move aims to address growing concerns about consumer protection in the rapidly expanding BNPL market.
ACA International renewed its advocacy in opposition to the Federal Trade Commission’s rule that would ban employers’ noncompete agreements by joining hundreds of national and state associations in a request to delay the action.
The Electronic Fund Transfer Act provides important protections when consumers suffer unauthorized withdrawals from their accounts. For instance, so long as a person promptly notifies their bank that access to their account has been stolen, the law limits the person’s losses to $50. As the name suggests, the Electronic Fund Transfer Act applies to transfers initiated electronically, such as through a computer or mobile device.
HAUPPAUGE, N.Y., May 28, 2024 /PRNewswire/ -- Teachers Federal Credit Union, one of the largest credit unions in the United States with $9.8 billion assets and more than 460,000 members, successfully raised more than $600,000 through fundraising efforts and its Second Annual Teachers Federal Credit Union Golf Tournament benefiting Children's Miracle Network Hospitals®.
On Friday May 24, in response to the CFPB’s motion requesting the Fifth Circuit to accelerate the issuance of its mandate from July 9, 2024 with respect to its earlier dismissal of the plaintiffs’ appeal, the Fifth Circuit ordered that the mandate be issued “forthwith.” This restores full jurisdiction to the Federal District Court (Judge Pittman).
.jpg)
.jpg)