Newsroom

The Consumer Financial Protection Bureau (CFPB) issued a new circular affirming that a bank may violate federal law if it unilaterally reopens a deposit account to process transactions after a consumer has already closed it.

Director Chopra delivered remarks at the April 25, 2023, meeting of the Financial Literacy and Education Commission.

Repeat offender will refund at least $141 million to customers and pay $50 million penalty.

Today, the Consumer Financial Protection Bureau (CFPB) took action against U.S. Bank for illegally accessing its customers’ credit reports and opening checking and savings accounts, credit cards, and lines of credit without customers’ permission. U.S. Bank pressured and incentivized its employees to sell multiple products and services to its customers, including imposing sales goals as part of their employees’ job requirements.

Banks continue to rely heavily on overdraft and non-sufficient fee (NSF) revenue, which reached an estimated $15.47 billion in 2019, according to research released today by the Consumer Financial Protection Bureau (CFPB).

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.

Bank Failed to Stop Payments or Resolve Errors, Must Pay $12 Million in Restitution, $3.5 Million Fine.

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.

Press call on "Know Before You Owe: Overdraft" in Washington, D.C. on August 4, 2017.

New CFPB Study Shows Opted-In Frequent Overdrafters Typically Pay Almost $450 More in Fees.

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

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...

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...

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...

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

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

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

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...

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...

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...

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...

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

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

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...

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