CFPB Orders Regions Bank to Pay $191 Million for Illegal Surprise Overdraft Fees
Repeat offender will refund at least $141 million to customers and pay $50 million penalty.
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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.
Bureau of Consumer Financial Protection Settles With TCF National Bank
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.
CFPB Report Finds Continued Decline in College Credit Card Agreements
WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) released its annual report on college credit card agreements, which shows a nearly 70 percent decline in the number of agreements since Congress passed new disclosure requirements in 2009. These findings highlight the trend of marketing partnerships between colleges and financial institutions shifting from credit cards toward other products such as debit and prepaid cards, which generally have fewer sunshine protections. The report also found that most colleges with credit card agreements do not make those agreements readily accessible to students and families.
CFPB Finds Small Debit Purchases Lead to Expensive Overdraft Charges
Majority of Debit Card Overdraft Fees Incurred on Transactions of $24 or Less WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) released a report that raises concerns about the impact of opting in to overdraft services for debit card and ATM transactions. The study found that the majority of debit card overdraft fees […]
Prepared Remarks of CFPB Director Richard Cordray on the Overdraft Data Point Press Call
Thank you all for joining me today for the release of the Consumer Financial Protection Bureau’s data point on checking account overdrafts. This is our second report on overdraft that raises concerns about how consumers are being affected by overdraft practices.
CFPB Issues Consumer Advisory on Industry’s Data Breach
Advisory Offers Tips to Protect Accounts in Wake of Recent Payment Card Data Breaches WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) published a consumer advisory to help consumers protect themselves in the wake of the recent breaches of payment card and other data. The advisory also contains information on where to get […]
Consumer advisory: Accessing your scholarships and student loan funds
The Consumer Financial Protection Bureau is issuing a consumer advisory today to all students expecting to receive scholarship and student loan proceeds onto – what appears to be – a school-endorsed debit card.