Bridgeforce Data Solutions’ Post

THE SCANNER: CFPB Finalizes Rule on Federal Oversight of Popular Digital Payment Apps to Protect Personal Data, Credit reports will be at least 20% more expensive in 2025, Lawsuit Filed Challenging CFPB’s Advisory Opinion on Medical Debt, Bank Regulators have No Plans to Move Forward with Major Rulemakings Until Next Year, and more top headlines Catch up on all of the top news from this week: https://hubs.la/Q02Z3X8M0 READER NOTE: If you find this of value, please like, comment, or repost it to your network. #banks #consumerlending #compliance #creditrisk #creditreporting #cfpb #fintech #news #industryupdates #TheScanner

The Scanner: CFPB Publishes Exam Supervisory Highlights Noting Continuing Accuracy Problems in the Credit Reporting System, U.S. District Court Addresses Federal Preemption For State Credit Reporting Laws, Courts Rule Against CFPB on Transfer of Credit Card Late Fee Rule Lawsuit to D.C and Prepaid Rule Disclosure Requirement, and more top headlines from this week. Catch up on all of the top news from this week: https://hubs.la/Q02sD25f0 #banks #consumerlending #compliance #creditrisk #creditreporting #cfpb #fintech #news #industryupdates #TheScanner

The Scanner: CFPB Finds 15 Million Americans Have Medical Bills on Their Credit Reports, Consumer Reports and WorkMoney Study Finds More Than a Quarter of People Find Serious Mistakes in Their Credit Reports, and Fulton Financial Acquires Republic First Bank After First US Bank Failure of 2024, and more top headlines from this week. Catch up on all of the top news from this week: https://hubs.la/Q02vXjWr0 READER NOTE: If you find this of value, please like, comment, or repost it to your network. #banks #consumerlending #compliance #creditrisk #creditreporting #cfpb #fintech #news #industryupdates #TheScanner

The Scanner: US Supreme Court Rules CFPB’s Funding Mechanism Constitutional, US Federal Judge Halts CFPB Late Fee Rule, Over 1 in 3 U.S. Homes are Bought with Cash, VantageScore Debuts Model that Can Consider Bank Account Data, and more top headlines from this week. Catch up on all of the top news from this week: https://hubs.la/Q02xs1CW0 #banks #consumerlending #compliance #creditrisk #creditreporting #cfpb #fintech #news #industryupdates #TheScanner

Why are Digital Financial Services (DFS) relevant to Financial Inclusion❓ The World Bank’s Reference Guide for Financial Regulators and Policymakers on Inclusive Digital Financial Services was recently published. I've always believed in combining #FinTech and #RegTech as the enabler for DFS and I'm glad to see the concept being clearly articulated in this comprehensive guide. Here are a couple of key considerations outlined in the guide: 1️⃣ Risk-Based Customer Due Diligence (CDD): Is there a risk proportionate anti-money laundering framework in place? 2️⃣ Financial Consumer Protection: Are consumer protection rules tailored to the full range of DFS providers and products? While the guide is meant for regulators and policymakers, I believe that industry players and service providers must also work towards the common goal to drive DFS adoption, and ultimately create a more inclusive and better world for all. 🌍 To read the full guide, check out the link in the comment 👇🏻 #FinancialInclusion #DigitalFinance #Regulation #Empowerment

The Scanner: Surge in Credit Report Lawsuits has Banks and Credit Agencies Scrambling, CFPB Extends Compliance Dates for Small Business Lending Rule, Approves Rule for Use of AI and Algorithms in Home Appraisals, and Releases its Annual Fair Lending Report to Congress, and more top headlines from this week. Catch up on all of the top news from this week: https://hubs.la/Q02DDTPC0 READER NOTE: If you find this of value, please like, comment, or repost it to your network. #banks #consumerlending #compliance #creditrisk #creditreporting #cfpb #fintech #news #industryupdates #TheScanner

Big day for #fintech today with the long awaited release of the Section 1033 open banking rules from the CFPB. I am at the Federal Reserve Bank of Philadelphia fintech event today where Rohit Chopra just finished speaking about the new rule. It is interesting to me that the first use case he cited for open banking was cash flow underwriting. I am very bullish on cash flow data and see the new rules being a huge tailwind for this new kind of underwriting. See the full rule here: https://lnkd.in/dpF6hC6B

The Scanner: Surge in Credit Report Lawsuits has Banks and Credit Agencies Scrambling, CFPB Extends Compliance Dates for Small Business Lending Rule, Approves Rule for Use of AI and Algorithms in Home Appraisals, and Releases its Annual Fair Lending Report to Congress, and more top headlines from this week. Catch up on all of the top news from this week: https://hubs.la/Q02DDVFS0 #banks #consumerlending #compliance #creditrisk #creditreporting #cfpb #fintech #news #industryupdates #TheScanner

Don't get left behind! In just 6 months, the CFPB 1033 ruling, also known as Open Banking, will compel the US financial services industry to comply with the new 'law of the land.' Join this free webinar to hear from one of the Top 5 Women-In-Tech worldwide about the technology building blocks you will need to integrate and get ready! #openbanking #openfinance Consumer Financial Protection Bureau OpenFinity https://lnkd.in/eGQyAr-e

Thanks to all our members who made their voices heard in our recent submission on the Scams Prevention Framework exposure draft legislation. Fintechs have long led the charge in scam detection and prevention and stand ready to continue to support consumers through proportionate, scalable reforms. Our submission includes actionable proposals, like testing via regulatory sandboxes, batch reporting and requiring consideration of competition impacts, that will help minimise the potential for unintended consequences while ensuring the Framework is effective in protecting consumers from financial harm. You can read the full submission here: https://lnkd.in/dfTHqY-J #scam #submission #fintech