Rep. Andy Ogles, R-Tenn., on August 30, 2024 introduced in the House of Representatives a resolution under the Congressional Review Act (CRA) that would nullify the CFPB’s final nonbank registry rule.
A recent ruling by the U.S. Court of Appeals for the Seventh Circuit affirming a decision compelling arbitration provides a “how to” guideline for using online terms and conditions to form a binding agreement.
On July 18, 2024, the Consumer Financial Protection Bureau (CFPB) issued a Proposed Interpretive Rule and Request for Comment (Proposed Rule) addressing credit products in the paycheck advance marketplace, such as those marketed as “earned wage access” or “earned wage advance” products (EWA).
Businesses continue to be subjected to a steady stream of consumer class action lawsuits alleging improper collection or disclosure of information from their websites. A variety of laws and legal claims are used to support the suits. Some lawsuits assert violation of laws that are not particularly cutting edge, such as the Video Privacy Protection Act, or cite to non-disclosed use of more modern technology such as tracking pixels. In many of the lawsuits, both types of claims are asserted.
Small- to medium-sized businesses (SMBs) often find themselves in a constant struggle to manage cash flow, focusing more on survival than growth. Many SMBs use outdated cash management practices, which leads to mounting pressures from delayed payments and inefficient processes. The PYMNTS Intelligence report “From Cash Flow Pain to Working Capital Gain: Automated AR/AP Solutions for SMBs” found that the rise of digital automation offers a path to stability and expansion.
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