Earned wage access fintechs say the Consumer Financial Protection Bureau's advisory opinion provides important clarity on the finance product, but legal experts warn that its practical impact could be minimal.

The effort by the Consumer Financial Protection Bureau, meant to benefit borrowers, has instead led to higher delinquency rates, increased defaults and more loans being sent to collections.

U.S. District Judge Amy Berman Jackson said the administration must request funds from the Federal Reserve, rejecting a Trump DOJ legal theory.

The Consumer Financial Protection Bureau in an advisory opinion said that "covered" earned wage access products should not be considered an extension of credit under the Truth in Lending Act. It also said that expedited delivery fees and tips should not be considered finance charges.

Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup.

A Consumer Financial Protection Bureau report on Pay in 4 buy now/pay later loans offered validation for an industry that has faced criticism for expanding into everyday spending, such as food delivery.

A comment deadline is approaching on a proposed Consumer Financial Protection Bureau rule that would dismantle longstanding rules meant to protect minorities from discrimination in the market for credit.

Capital One must reengage in settlement talks with lawyers for savings account holders after a judge found that an agreement between the two sides wouldn't provide adequate compensation to customers who were allegedly victimized by the bank.

The Consumer Financial Protection Bureau has seen a rapid drop in the effectiveness of its cybersecurity program, according to a new report from the Fed's Office of Inspector General.

In comment letters on the Consumer Financial Protection Bureau's new rulemaking on personal financial data rights, consumers begged the agency to protect their data from misuse.

A district court has agreed to halt compliance with the Consumer Financial Protection Bureau's Biden-era open banking rule while the Trump administration pursues its own rule.

The Consumer Financial Protection Bureau is rescinding two rules issued under former CFPB Director Rohit Chopra that required nonbanks to register court orders, plus terms and conditions of contracts.

The effort to establish rules governing consumers' access to their financial data has been effectively derailed by litigation, moves made by the Trump-era CFPB and JPMorganChase's decision to start charging data aggregators for access to customer data.

An appeals court upheld a nine-figure default judgment against Nexus Services, Libre by Nexus and three individuals who scammed immigrants held in custody by ICE.

The Consumer Financial Protection Bureau will delay its small-business lending data rule by a year, citing litigation and plans to rewrite the regulation in the interim as reasons for the delay.

Washington Federal Bank and Planet Home Lending are both off the hook for the remainder of their consent orders, which the bureau quietly terminated.

The embattled regulator has dropped more than half its Biden-era docket, including cases against Apple and U.S. Bank. But insiders at the bureau say that's just the beginning.

Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.

As state-level regulators rush in to fill the gap left by a shrinking Consumer Financial Protection Bureau, bank products will have to comply with dozens of potentially conflicting state requirements.

Rent-seeking banks looking to profit from their monopoly on access to customer data can't be allowed to stymie the development of open banking in the U.S.