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Press release
Published

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.
Press release
Published

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.
Press release
Published

CFPB Report Finds Many College-Sponsored Financial Products Charge High and Unusual Fees

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.
Press release
Published

CFPB, U.S. Department of Health and Human Services, and U.S. Department of Treasury Launch Inquiry into Costly Credit Cards and Loans Pushed on Patients for Health Care Costs

The CFPB, HHS, and U.S. Department of Treasury launched an inquiry into high-cost specialty financial products, such as medical credit cards and installment loans, that are pushed on patients as a way to pay for routine medical care and which drive up health care costs and medical debt.
Press release
Published

CFPB Joins Other Financial Regulatory Agencies in Issuing Statement on Completing the LIBOR Transition

Today, the Consumer Financial Protection Bureau (CFPB) joined four other federal financial regulatory agencies, along with state bank and state credit union regulators, in issuing a statement that the use of United States Dollar LIBOR (USD LIBOR) panels will end on June 30, 2023.
Testimony
Published

Written Testimony of James S. Rice, Assistant Director, Office of Servicemember Affairs, before the U.S. Senate Committee on Veterans’ Affairs

CFPB Office of Servicemember Affairs Assistant Director Jim Rice discusses recent CFPB efforts to understand the veteran financial experience, enforce the law, and coordinate efforts across the federal government and in the states.
Press release
Published

CFPB Proposes Rule to Rein in Excessive Credit Card Late Fees

Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule to curb excessive credit card late fees that cost American families about $12 billion each year. Major credit card issuers continue to profit off a junk fee protected by an immunity provision that allows issuers to escape scrutiny of otherwise illegal late fees.