CFPB Sues Capital One for Cheating Consumers Out of More Than $2 Billion in Interest Payments on Savings Accounts
The CFPB sued Capital One for cheating millions of consumers out of more than $2 billion in interest.
Newsroom archive
CFPB Approves Application from Financial Data Exchange to Issue Standards for Open Banking
The CFPB issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body under the CFPB’s Personal Financial Data Rights rule.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Developments Regarding Large Asset Manager Ownership of Banks
Statement of CFPB Director Rohit Chopra on developments regarding large asset manager ownership of banks.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the FDIC's Policy Regarding Bank Capital Distributions During Unusual and Exigent Circumstances
Director Chopra presented a discussion draft of a new FDIC policy on Bank Capital Distributions During Unusual and Exigent Circumstances at the December 2024 meeting of the FDIC Board of Directors.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the FDIC's Policy Regarding the Annunzio-Wylie Anti-Money Laundering Act of 1992
Director Chopra presented a discussion draft of a new FDIC policy on the Annunzio-Wylie Anti-Money Laundering Act of 1992 at the December 2024 meeting of the FDIC Board of Directors.
CFPB Closes Overdraft Loophole to Save Americans Billions in Fees
The CFPB took action to close an outdated overdraft loophole that exempted overdraft loans from lending laws.
CFPB Sues Comerica Bank for Systematically Failing Disabled and Older Americans
The CFPB sued Comerica Bank for systematically failing its 3.4 million Direct Express cardholders - primarily unbanked Americans receiving federal benefits.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Deposit Insurance Reform and the Failure of The First National Bank of Lindsay
Director Chopra submitted this statement for the record in connection with a closed meeting of the FDIC Board of Directors held on November 12, 2024.
CFPB Orders Navy Federal Credit Union to Pay More Than $95 Million for Illegal Surprise Overdraft Fees
The CFPB took action against Navy Federal Credit Union for charging illegal overdraft fees.
CFPB Orders VyStar Credit Union to Pay $1.5 Million for Illegally Stranding Consumers from Accessing Their Money and Accounts
The CFPB took action against VyStar Credit Union for harming consumers through its botched rollout of a new online banking system.
Prepared Remarks of CFPB Director Rohit Chopra at Georgetown University’s DC Fintech Week
Director Chopra delivered remarks at Georgetown University’s DC Fintech Week.
Prepared Remarks of CFPB Director Rohit Chopra at the Federal Reserve Bank of Philadelphia on the Personal Financial Data Rights Rule
Director Chopra delivered remarks at the Federal Reserve Bank of Philadelphia about the CFPB’s Personal Financial Data Rights Final Rule.
CFPB Finalizes Personal Financial Data Rights Rule to Boost Competition, Protect Privacy, and Give Families More Choice in Financial Services
The CFPB finalized a rule to give consumers greater rights, privacy, and security over their personal financial data by requiring providers to unlock personal financial data for free.
Prepared Remarks of CFPB Director Rohit Chopra at Harvard Law School on the Asset Management Oligopoly
Director Chopra delivered remarks about the asset management oligopoly at Harvard Law School.
CFPB Takes Action to Stop Banks from Harvesting Overdraft Fees Without Consumers' Consent
The CFPB today published guidance to help federal and state consumer protection enforcers stop banks from charging overdraft fees based on phantom opt-in agreements.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Stopping Fintech Deposit Meltdowns
Over the past decade, we have seen a significant incursion into consumer deposit taking and payments activities by companies that aren’t banks or credit unions. These firms want the public benefits of being a bank or credit union, without the public obligations.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Actions to Strengthen Bank Merger Review
Today, the FDIC Board of Directors is voting to finalize its policy statement on bank mergers.
Prepared Remarks of Seth Frotman at the Poverty Law Conference
CFPB General Counsel Seth Frotman spoke at the Poverty Law Conference about consumer financial law and low-income families.
CFPB Orders TD Bank to Pay $28 Million for Breakdowns that Illegally Tarnished Consumer Credit Reports
The CFPB ordered TD Bank to pay $7.76 million to tens of thousands of victims because of the bank’s illegal actions.
CFPB Report Finds Large Retail Chains Charging Cash-back Fees to Customers Using Debit and Prepaid Cards
The CFPB published a new report finding Americans are paying tens of millions of dollars in fees to access their own money when getting “cash back” at large retail stores when making a purchase with a debit or prepaid card.
Remarks by CFPB Director Rohit Chopra at the Department of the Treasury’s Announcement on Cloud Service Provider Resilience
Director Chopra joined an event hosted by Deputy Secretary of the Treasury Wally Adeyemo to announce a series of steps that the U.S. government and the financial sector are taking to safeguard risks to the financial system with respect to cloud service providers. The transcript has been slightly edited for clarity.
CFPB Takes Action Against Fifth Third for Wrongfully Triggering Auto Repossessions and Opening Fake Bank Accounts
The CFPB took action against repeat offender Fifth Third Bank for a range of illegal activities that would result in the bank paying millions in penalties as well as paying redress to harmed consumers.
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Megabank Living Wills
CFPB Director Rohit Chopra issued a statement on megabank living wills
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the Final Rule to Avoid Costly Megamergers
CFPB Director Rohit Chopra issued a statement on the Final Rule to Avoid Costly Megamergers.
Opening Statement of Director Rohit Chopra before the House Financial Services Committee
Since the creation of the CFPB, the agency has returned $20.7 billion to consumers through law enforcement activity and created unquantifiable returns for the over 205 million Americans harmed by the illegal practices that we have stopped.
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