DOGE doubles down on eliminating the government agency that's cracking down on overdraft fees
Vivek Ramaswamy, a DOGE leader with Elon Musk, argued the Consumer Financial Protection Bureau is "un-American" after it ...
Federal Register19d
Consumer Financial Protection Bureau
In accordance with the Paperwork Reduction Act of 1995 (PRA), the Consumer Financial Protection Bureau (CFPB) requests the Office of Management and Budget's (OMB's) approval of an information ...
CNBC19d
Credit card late fees cost Americans billions a year — now they're capped at $8
On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rule limiting the penalty for late payment to $8 per incident, down from an industry average of $32. It is expected to ...
Business Insider19d
Americans who are charged overdraft fees are now on track to save $225 a year
However, the CFPB found that some banks charged higher fees than they needed to cover their losses, leaving consumers in a financial bind. The new rule updates federal regulations for banks with ...
Marketplace20d
New regulations will limit bank overdraft fees. Many banks have already done so.
The new limit, with some exceptions, will be $5, which the CFPB said will save U.S. households billions of dollars annually. The thing is, the banking sector has been moving away from charging ...
American Banker21d
CFPB has a new tool to examine customer service at banks
The new questions are part of a controversial advisory opinion, said James McCarthy, chairman of a financial services tech firm McCarthy Hatch who helped set up the complaint database as a CFPB senior ...
Inside Higher Ed22d
CFPB Bans Student Loan Debt Collector for Unlawful Practices
But the CFPB said that between 2015 and 2020, Performant abused its control over the rehabilitation process, encouraging employees to delay borrowers from filing their agreements through such measures ...
The Hill22d
Consumer watchdog faces daunting future under Trump
The Consumer Financial Protection Bureau (CFPB) is headed for a rocky future under President-elect Trump. The powerful financial watchdog agency is in for a reckoning during a second Trump ...
syracuse.com22d
CFPB will distribute $1.8B to victims of credit repair ‘scheme’
The CFPB says it will distribute $1.8 billion to 4.3 million consumers who were charged illegal advance fees by Lexington Law and CreditRepair.com, which used telemarketing to offer credit repair ...
Digital Transactions23d
Google Sues the CFPB After the Agency Slams Google Over a Wallet It No Longer Offers in the U.S. Market
Google Inc. has sued the Consumer Financial Protection Bureau following the CFPB’s action Friday asserting federal supervision of the company’s Google Pay wallet. In the suit, filed in U.S. District ...
bankingdive23d
CFPB sues Comerica for ‘systematically failing’ federal benefits recipients
The Consumer Financial Protection Bureau sued Comerica Bank on Friday for allegedly “systematically failing” 3.4 million cardholders who received federal benefits such as Social Security through ...
The Verge24d
Google sues to stop the US from monitoring it like a bank
CFPB is reportedly trying to put Google under bank-like supervision Apple Pay, Cash App, and other digital wallets will be regulated more like banks now The CFPB says its finding that Google ...