Bank Failed to Stop Payments or Resolve Errors, Must Pay $12 Million in Restitution, $3.5 Million Fine
Person-to-person payment services are gaining popularity. Before using them, minimize potential risks by reading these tips.
Changes Provide More Flexibility and Extend Effective Date to April 2019
Lenders Must Determine If Consumers Have the Ability to Repay Loans That Require All or Most of the Debt to be Paid Back at Once
Thank you for joining us. After a long process of research, outreach, and review of over one million public comments, the Consumer Bureau today has issued a rule aimed at stopping debt traps on payday and auto title loans. The rule is guided by the basic principle of requiring lenders to determine upfront whether people can afford to repay their loans.
Proposal Would Adjust Error Resolution Requirements and Provide More Flexibility for Credit Cards Linked to Digital Wallets
Consumer Financial Protection Bureau Sues Payment Processor For Enabling Unauthorized Withdrawals And Other Illegal Acts By Clients
Intercept Corp. Ignored Red Flags for Potential Fraud and Illegal Activity by Clients
Payment Processor Deceived Consumers About the Data Security Risks of Using Its Online System WASHINGTON, D.C. – The Consumer Financial Protection Bureau today took action against online payment platform Dwolla for deceiving consumers about its data security practices and the safety of its online payment system. The CFPB ordered Dwolla to pay a $100,000 penalty […]
Before you give anyone your bank account number and permission to automatically withdraw money from your bank account on a regular basis, it’s good to know how automatic debits work, what to be careful about, and how to stop the automatic payments if you cancel the service or just change your mind about how you want to pay.
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 systems. I especially want to extend a warm welcome to the newest members, who are joining us for the first time since their appointment this year. I would also […]