Newsroom | Consumer Financial Protection Bureau

Press release

Published SEP 08, 2016

Consumer Financial Protection Bureau Fines Wells Fargo $100 Million for Widespread Illegal Practice of Secretly Opening Unauthorized Accounts

Bank Incentives to Boost Sales Figures Spurred Employees to Secretly Open Deposit and Credit Card Accounts.

Speech

Published FEB 03, 2016

Prepared Remarks of CFPB Director Richard Cordray at a Field Hearing on Checking Account Access

Thank you for joining us today in Louisville to talk about individual checking and savings accounts. When I think about these deposit accounts, I am...

By Richard Cordray

Press release

Published FEB 03, 2016

CFPB Takes Steps to Improve Checking Account Access

CFPB Concerned that Screening Inaccuracies and Lack of Account Options are Keeping Consumers Out of the Banking System Today the Bureau is taking steps to...

Speech

Published OCT 08, 2015

Prepared Remarks of CFPB Director Richard Cordray at a Meeting of the Credit Union Advisory Council

I want to welcome you all to this meeting of the Credit Union Advisory Council, which has been convened to talk about consumer challenges in payment...

By Richard Cordray

Speech

Published AUG 12, 2015

Prepared Remarks of CFPB Director Richard Cordray on the Citizens Bank Enforcement Action Press Call

Thank you for joining this call. Today the Bureau, along with our federal partners, is taking action against Citizens Bank for shoddy practices that...

By Richard Cordray

Press release

Published AUG 12, 2015

CFPB Orders Citizens Bank to Pay $18.5 Million for Failing to Credit Full Deposit Amounts

CFPB, OCC, and FDIC Take Action Against Bank For Ignoring Deposit Discrepancies Today the Bureau, the Federal Deposit Insurance Corporation (FDIC), and the...

Press release

Published JUL 09, 2015

CFPB Outlines Guiding Principles for Faster Payment Networks

CFPB Wants to Ensure Consumer Protections Are Built Into New Payment Systems From Outset Today the Bureau outlined guiding principles for protecting...

Press release

Published APR 28, 2015

CFPB Fines Regions Bank $7.5 Million for Unlawful Overdraft Practices

Bank Refunds $49 Million in Illegal Fees to Consumers Who Did Not Opt-In to Overdraft Today the Bureau took action against Regions Bank for charging...

Speech

Published APR 28, 2015

Prepared Remarks of CFPB Deputy Enforcement Director Cara Petersen on the Regions Bank Enforcement Action Press Call

Today the Bureau is taking its first enforcement action under the federal rules that protect consumers against illegal overdraft fees by their banks. We are...

By Richard Cordray

Press release

Published OCT 09, 2014

CFPB Takes Action Against M&T Bank for Deceptively Advertising Free Checking

M&T to Refund $2.9 Million to Approximately 59,000 Account Holders Who Paid Fees for Free Checking Today the Bureau took action against M&T Bank for...

Speech

Published OCT 08, 2014

Prepared Remarks of CFPB Director Richard Cordray at Forum on Access to Checking Accounts

Thank you for joining our forum to explore how consumers are affected by checking account screening policies and practices. Today we will look at how these...

By Richard Cordray

Press release

Published SEP 25, 2014

CFPB Orders U.S. Bank to Pay $48 Million Refund to Consumers Illegally Billed for Services Not Received

Approximately 420,000 Consumers Unfairly Charged for Identity Protection "Add-On" Products to Receive Full Refunds Today, the Bureau is ordering U.S. Bank...

Press release

Published JUN 11, 2013

CFPB Report Raises Concerns About Impact of Overdraft Practices on Consumers

The report shows big differences across financial institutions when it comes to overdraft coverage on debit card transactions and ATM withdrawals, drawing...

Press release

Published MAR 01, 2012

Consumer Financial Protection Bureau now taking complaints on checking accounts

Almost nine out of ten American households have at least one checking account, and many also maintain a savings account. Yet, despite the fact that they are...

Press release

Published OCT 05, 2011

Raj Date Statement on the Importance of Checking Account Transparency

The problem is that checking accounts often come with a wide variety of unexpected costs that can quickly add up for consumers.