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“Open Banking helps to make the eBay Seller Capital application process easier, faster and more holistic for small businesses, so we can help more eBay sellers start and grow their businesses,”

The Consumer Financial Protection Bureau (CFPB) has once again delayed its compliance timeline for the Section 1071 rule under the Equal Credit Opportunity Act, reflecting ongoing concerns over readiness, legal challenges, and operational impacts for small business lenders.

Banks argue that prohibiting charging fees for data access prevents them from recouping these expenses and managing related risks. Conversely, fintech firms advocate for the rule, emphasizing the benefits of seamless data sharing for developing innovative financial products and services.

Thus, the Court will stay the Section 1071 Rule and toll the Rule’s compliance deadlines with respect to Plaintiff and its members for the length of time that the Fifth Circuit stay order in Tex. Bankers Ass’n, No. 24-40705, is in effect, subject to modification at any time by the Court.

“Payment apps like PayPal, Stripe, Cash App, those sorts of things, they would get close to a free ride at the federal level,” said David...

Breaking: CFPB drops 'Zelle' case against JPMorgan, BofA, Wells Fargo

As unions challenge Vought’s directives in court and protests continue outside the shuttered CFPB headquarters, one thing is clear: The...

In a move that's sure to raise eyebrows and potentially reshape the regulatory landscape, Treasury Secretary Scott Bessent has been...

The Consumer Financial Protection Bureau's (CFPB) small business lending data collection rule has cleared another significant legal obstacle

The registry aims to identify repeat offenders and recidivism trends, enabling the CFPB to hold lawbreaking companies accountable and stop..

The ruling affirms that the CFPB’s funding, sourced from the Federal Reserve rather than the congressional budget process, does not violate

The overarching question at hand of rule 1071: is it truly protecting the entrepreneurs who are supposed to be protected against bias or...

including closed-end loans, lines of credit, business credit cards, online credit products, and merchant cash advances by banks, credit...