We’re releasing a report about consumers’ experiences with overdraft programs. Many of the people we spoke with were surprised about overdraft fees. Take control of your checking account with our tips and guides.
Last week, Director Cordray sent a letter to the CEO’s of several banks, credit unions, and financial companies encouraging them to enable consumers to exert greater control over their credit cards, debit cards, and other payment methods.
New data shows how costly (or cheap) it can be for students to use their college-sponsored bank account.
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
In order to make overdraft disclosure more straightforward, we’ve created four possible designs for a new disclosure form.
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.
Three key tips to keep in mind if you are denied access to basic financial services and products.
Bureau’s Order Requires Bank to Pay $4.6 Million Penalty
