The Consumer Financial Protection Bureau issued a final rule covering remittances transfers.
Consumer Financial Protection Bureau Paves Way for Consumers to Receive Economic Impact Payments Quicker
The Consumer Financial Protection Bureau took steps to make it easier for consumers to receive pandemic-relief payments, including the economic impact payments authorized in the CARES Act, through prepaid accounts.
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
Changes Provide More Flexibility and Extend Effective Date to April 2019
Proposal Would Adjust Error Resolution Requirements and Provide More Flexibility for Credit Cards Linked to Digital Wallets
Bank Obscured Fees, Adopted Loose Definition of Consent to Preserve Overdraft Revenue
Thank you for joining the call. Today, we are suing TCF National Bank for tricking consumers to opt in for costly overdraft services. We believe TCF trained its employees to use unlawful tactics in their marketing to consumers. They made overdraft seem mandatory when it was not. They obscured information about fees when opening accounts for new customers. They adopted a loose definition of “consent” to opt in existing customers, and they pushed back aggressively against any customer who questioned the process. In the end, many of their customers had no idea they had opted in for expensive services that exposed them to high fees.
New Rule Includes ‘Know Before You Owe’ Prepaid Disclosures