The Consumer Financial Protection Bureau proposed to block financial institutions from one potential source of new junk fee revenue – fees on instantaneously declined transactions.
CFPB propone bloquearles a las instituciones financieras una potencial fuente de ingresos por nuevas tarifas inesperadas; las penalidades por transacciones declinadas instatáneamente.
CFPB Proposes Rule to Close Bank Overdraft Loophole that Costs Americans Billions Each Year in Junk Fees
The CFPB today proposed a rule to rein in excessive overdraft fees charged by the nation’s biggest financial institutions.
La CFPB Propone Normativa para Cerrar el Vacío Legal sobre los Sobregiros Bancarios que le Cuesta Miles de Millones de Dólares a los Consumidores del País
CFPB propone normativa para regir las excesivas penalidades por sobregiros, cobrados por las instituciones financieras más grandes de la nación.
Director Chopra delivered remarks on the CFPB’s proposed overdraft lending rule.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the Final Rule to Protect the FDIC Name and Logo from Bad Actors
The FDIC Board of Directors is voting on a final rule to update the framework governing official FDIC signs and advertising requirements, as well as misrepresentations related to federal deposit insurance.
The Consumer Financial Protection Bureau (CFPB) today issued a new report finding that many consumers are still being hit with unexpected overdraft and nonsufficient fund (NSF) fees, despite recent changes implemented by banks and credit unions that have eliminated billions of dollars in fees charged each year.
The Consumer Financial Protection Bureau found that many college-sponsored financial products have higher fees and worse terms and conditions compared to typical market products.
The Consumer Financial Protection Bureau ordered U.S. Bank to pay nearly $21 million for keeping consumers from accessing unemployment benefits during the COVID-19 pandemic.
Prepared Statement of CFPB Director Rohit Chopra on the Financial Stability Oversight Council's 2023 Annual Report
Nine months ago, several large domestic systemically important banks (DSIBs) failed. The stress in the financial system led policymakers to take emergency actions to halt the contagion.
The Consumer Financial Protection Bureau (CFPB) today took action against Atlantic Union Bank for illegally enrolling thousands of customers in checking account overdraft programs.
Opening Statement of Director Rohit Chopra before the Senate Committee on Banking, Housing, and Urban Affairs
I am proud of the CFPB’s work in getting consumers the resolutions they deserve, often through referrals from local organizations, Congressional offices, and many others.
I am pleased to share that the CFPB has reached important milestones on critical priorities.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the Deposit Insurance Fund Restoration Plan and Designated Reserve Ratio
The government’s promise that insured deposits will be protected from loss in the event of a bank failure has been the backbone of banking system stability for 90 years. The Federal Deposit Insurance Corporation’s stewardship of the Deposit Insurance Fund is vital to keeping that promise and maintaining the public’s confidence.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Recouping Losses to the Deposit Insurance Fund from Protecting “Uninsured” Depositors of Silicon Valley Bank and Signature Bank
In March 2023, the failures of Silicon Valley Bank and Signature Bank threatened to create cascading stress throughout the banking system and inflict serious damage on the economy.
Statement of CFPB Director Rohit Chopra on the Financial Stability Oversight Council's Effort to Promote Market Discipline in the Shadow Banking Sector
The economic and psychological damage inflicted by a crisis can linger for many years, and most people will not receive the type of extraordinary government assistance that large financial firms tend to receive.
The Consumer Financial Protection Bureau (CFPB) published a new analysis on state Community Reinvestment Act laws, highlighting how states ensure financial institutions' lending, services, and investment activities meet the credit needs of their communities
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the Final Rule Implementing the Community Reinvestment Act
The final rule should help increase investment and lending in historically excluded communities, including rural communities.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the Final Guidance Regarding Climate-related Risks
Private industry and governments around the world are preparing for how climate change will erode, degrade, or otherwise threaten our economic infrastructure.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the Proposed Rule Regarding Lifetime Banking Bans for Certain Criminal Offenses
One of the biggest challenges that banks face today is recruiting and retaining qualified employees.
The Consumer Financial Protection Bureau (CFPB) proposed a rule that would accelerate a shift toward open banking, where consumers would have control over data about their financial lives and would gain new protections against companies misusing their data.
Director Chopra discussed the CFPB’s proposed rule to activate a dormant authority under a 2010 law to accelerate much-needed competition and decentralization in banking and consumer finance by making it easier to switch to a new provider.
Across the country, Americans are working hard to create and provide products sold here at home and around the world.
The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion regarding a provision enacted by Congress which generally prohibits large banks and credit unions from imposing unreasonable obstacles on customers, such as charging excessive fees, for basic information about their own accounts.
CFPB Exams Return $140 Million to Consumers Hit by Illegal Junk Fees in Banking, Auto Loans, and Remittances
The Consumer Financial Protection Bureau (CFPB) released a special edition of its Supervisory Highlights focused on the agency’s efforts to shutdown junk fees.