October 18, 2016
The Consumer Financial Protection Bureau said that a recent D.C. Circuit ruling that declared the bureau’s single-director structure unconstitutional would likely be overturned on appeal and should not be relied upon in litigation the CFPB brought against a payment processor.
August 30, 2016
The Consumer Financial Protection Bureau has sufficiently pled that a North Dakota-based payment processor ignored red flags and allowed companies to take money from consumers' bank accounts without authorization, the agency told a federal court Monday in urging it to keep the case alive.
August 18, 2016
An industry group for payment processing firms blasted a Consumer Financial Protection Bureau lawsuit against Intercept Corp., saying Wednesday that the bureau was engaging in a confusing effort to regulate the industry through enforcement.
June 06, 2016
The Consumer Financial Protection Bureau accused a North Dakota-based payment processor of ignoring blatant warning signs of fraud and other illegal activity and letting clients make unauthorized withdrawals from consumer accounts, according to a complaint filed Monday in North Dakota federal court.