Today, we took action against Mastercard and UniRush after preventable technological breakdowns in October 2015 left tens of thousands of RushCard users unable to access their money and without customer support.
If you’re trying to cut down your credit card debt, research shows it can help to keep a short guideline in mind.
We’re exploring the use of a list of companies that offer free credit
scores to their existing customers. Give us your input by commenting on the
Federal Register notice.
Cientos de miles de cuentas creadas en secreto por los empleados de Wells Fargo Bank resultan en una multa histórica de $100 millones por parte del CFPB
La Oficina para la Protección Financiera del Consumidor (CFPB, por sus siglas en inglés) multa a Wells Fargo por abrir cuentas secretas sin el conocimiento o consentimiento de los consumidores.
Hundreds of thousands of accounts secretly created by Wells Fargo Bank employees leads to historic $100 million fine from the CFPB
The Consumer Financial Protection Bureau fines Wells Fargo for opening secret accounts without consumers’ knowledge or consent.
If you have a card, you might have been using it a lot lately to purchase gifts, meals, and travel expenses. Credit cards can help you build and maintain good credit, as long as you use your cards responsibly and pay your bills on time each month.
Lately, we’ve received questions from people wanting to know what these chips are and how they work. As a new federal agency, we’re committed to providing you with trustworthy information about consumer financial products—including bank accounts and credit cards. Here are a few things you should know about chip technology.
Since 2011, we have secured over $10.8 billion dollars in relief for more than 25 million consumers harmed by illegal practices.
Today we’re ordering Citibank, N.A. and some of its subsidiaries to refund approximately $700 million to customers for unfair and deceptive credit card practices. This includes unfairly billing consumers for credit card add-on products, deceptively marketing those products, and deceptive collection practices. Generally, consumers who were signed up for these products on or after January 1, 2009, will receive full or partial refunds.
Chase has already begun compensating consumers and will contact you if you are eligible for payment.
Today, we’re releasing a report that looks at deals between financial institutions and colleges to market credit cards to students. This year we found that there are fewer schools marketing credit cards, and those that do are not making their agreements with credit card companies readily accessible to students.
We’re announcing a research pilot aimed at assessing the potential impact of early intervention credit counseling. We know that defaulting on credit card debt is a very stressful event for anyone and impacts consumers’ ability to access credit in the future. We’d like to use this opportunity to explore what ways may help consumers better manage their credit card debt and avoid default.
Home Depot has confirmed that there has been a breach of its payment data systems. According to the company, the breach could potentially impact any customer that has used their card for payment at a Home Depot in the U.S. or Canada since April 2014. Here’s what you can do to protect yourself if you spot unauthorized charges.
What could be better than zero percent interest for one year? Nothing, nada, free…right? Not exactly. Credit card companies market these promotions as a way for you to save money. But, what some credit card companies may not have been telling you is that new purchases could cost you more than you expect. Learn more about credit card promotion offers and see why they could cost you more than you think.
Youth in foster care are particularly susceptible to identity theft because they often lack a permanent address, and their personal information is frequently shared among numerous adults and agency databases.
Explainer: Compensating consumers for Bank of America’s illegal tactics for credit card add-on products
We’re ordering Bank of America to refund up to $727 million to approximately 2.9 million consumers for unfair billing and deceptive marketing and sales practices related to credit card “add-on” products. Read more to see who is eligible for compensation.
Some of these agreements were difficult to find, but here are a few examples of the different agreements financial institutions have with colleges and universities. We didn’t verify whether these agreements are current, but the examples give us a sense of how some of these agreements work.
Recently, many patients facing medical procedures have seen their health care providers suggest deferred interest rate credit cards as a payment option. Unfortunately, health care providers don’t always explain how these deferred interest credit cards work. We want to make sure that you get the facts you need.
The recent data breach and theft of credit and debit card information at Target retail stores could impact tens of millions of consumers, and we want to let you know what you can do to protect yourself if you spot fraudulent charges. Here’s what you can do if you think your credit or debit card data was hacked.
Today, Director Cordray is alerting financial institutions about the potentially risky practice of making secret payments to colleges and universities to market deposit accounts, prepaid cards, debit cards, and other financial products to students. We’re calling on financial institutions to voluntarily make these agreements available on their websites. We’re also releasing a report on college […]
We were in Chicago for a field hearing on credit cards. We heard remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public. The live event has now ended, but a recording of the event is available.
Acompáñenos al diálogo comunitario sobre el mercado de las tarjetas de crédito en Chicago, Illinois. La audiencia se llevará a cabo el miércoles, 2 de octubre a las 11 a.m. CDT a la siguiente dirección: Winter Garden, Harold Washington Library 400 S State St. Chicago, Illinois El Director de la Oficina para la Protección Financiera […]
Join us for a field hearing in Chicago on credit cards. The hearing will take place on Wednesday, October 2 at 11 a.m. CDT at the following address: Winter Garden, Harold Washington Library 400 S State St. Chicago, Illinois The event will feature remarks from CFPB Director Richard Cordray, as well as testimony from consumer […]
Releasing complaint data about credit cards, mortgages, student loans, bank accounts, services, and other consumer loans
What are you going to make with #CFPBdata? Last summer, we launched our Consumer Complaint Database featuring data about credit card complaints. Today, based on feedback from the public, we’re expanding it – and increasing the number of complaints from about 19,000 to more than 90,000. Here’s what we’re adding data about: Mortgage complaints submitted […]