Weekly Fintech Focus
- House Democrats latest relief bill includes protections for financial institutions working with marijuana-related businesses.
- The CFPB issues guidance providing flexibility for financial institutions dealing with billing error disputes and making changes to consumer accounts to respond to the challenges of the COVID-19 pandemic.
- The CFPB amends the Remittance Transfer Rule to permanently allow estimates of exchange rates and third-party fees.
- FinCEN is seeking comments about the burden of collecting, filing, and maintaining CTRs.
- U.S. credit card spending falls 40% in March and early April.
- Contactless payments are more likely to be used.