Today the Consumer Financial Protection Bureau (CFPB) published a notice on how it plans to periodically review regulations under the Regulatory Flexibility Act (RFA) and to request public input.
Joint release with the Board of Governors of the Federal Reserve System
Joint release with the Federal Reserve Board of Governors and Office of the Comptroller of the Currency
Today the Bureau of Consumer Financial Protection (Bureau) filed in federal district court a proposed settlement with TCF National Bank regarding its marketing and sale of overdraft services.
Bureau Acting Director Mick Mulvaney issued the following statement after President Donald Trump signed the Economic Growth, Regulatory Relief and Consumer Protection Act into law.
For more than five years now, I have had the honor to serve our country as the first director of the new U.S. Consumer Financial Protection Bureau. In that time, we have built a brand-new federal agency from scratch. And we have sent a strong message to the banks and large financial companies that in a frank and fair way we are pushing them to clean up their act and put their customers first.
Consumers Harmed By Inferior Card Terms, Including Higher Interest Rates, Stricter Credit Cutoffs, and Less Debt Forgiveness, Receive Over $95 Million in Redress
New CFPB Study Shows Opted-In Frequent Overdrafters Typically Pay Almost $450 More in Fees
Thank you for joining us. In our fast-moving modern economy, it is increasingly common for consumers to use debit cards the way they used to use cash. They also write checks and arrange for money to be taken out of their account. This makes it harder to keep track of their checking account balances from day to day, even if they are diligent about checking their balances online or by phone. Consumers living on the edge can find themselves racking up numerous overdraft charges.
Bureau’s Order Requires Bank to Pay $4.6 Million Penalty
