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.
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.
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.
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.
Prepared Remarks of Director Rohit Chopra at the April 2023 Financial Literacy and Education Commission
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.
CFPB Fines U.S. Bank $37.5 Million for Illegally Exploiting Personal Data to Open Sham Accounts for Unsuspecting Customers
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).
Consumer Financial Protection Bureau Outlines Plan to Review Rules Under the Regulatory Flexibility Act
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.
CFPB Unveils Prototypes of "Know Before You Owe" Overdraft Disclosure Designed to Make Costs and Risks Easier to Understand
New CFPB Study Shows Opted-In Frequent Overdrafters Typically Pay Almost $450 More in Fees.
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.
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...
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...
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...